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MULTIPLE CHOICE: PLEASE ANSWER ASAP. THANK YOU! 13. Texas Inc. has 10,000 shares of 7%, $125...

MULTIPLE CHOICE: PLEASE ANSWER ASAP. THANK YOU!

13. Texas Inc. has 10,000 shares of 7%, $125 par value cumulative preferred stock and 97,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock?

a.$6,790 in total

b.$87,500 in total

c.$0.01 per share

d.$70.00 per share

15. A corporation has 50,000 shares of $28 par stock outstanding that has a current market value of $150 per share. If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately

a.$600.00

b.$7.00

c.$112.00

d.$37.50

20. The charter of a corporation provides for the issuance of 109,000 shares of common stock. Assume that 38,000 shares were originally issued and 4,200 were subsequently reacquired. What is the amount of cash dividends to be paid if a $3-per-share dividend is declared?

a.$12,600

b.$114,000

c.$101,400

d.$327,000

25. Calculator

Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:

Year 1 $10,000
Year 2 45,000
Year 3 90,000

Determine the dividends per share for preferred and common stock for the first year.

a.$0.50 and $0.10

b.$0 and $0.10

c.$2.00 and $0

d.$0.50 and $0

30. A company with 103,000 authorized shares of $6 par common stock issued 33,000 shares at $16. Subsequently, the company declared a 2% stock dividend on a date when the market price was $31 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

a.$63,860

b.$3,960

c.$20,460

d.$16,500

32. Alma Corp. issues 1,000 shares of $10 par common stock at $14 per share. When the transaction is recorded, credits are made to

a.Common Stock, $14,000

b.Common Stock, $4,000, and Paid-In Capital in Excess of Stated Value, $10,000

c.Common Stock, $10,000, and Paid-In Capital in Excess of Par—Common Stock, $4,000

d.Common Stock, $10,000, and Retained Earnings, $4,000

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