For the Current Year Ended, ABC Had the Following Transactions

question 208

Multiple Choice

For the current year ended, ABC had the following transactions:
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Issued 10,000 shares of $2 par common stock for $12 per share.Issued 3,000 shares of $50 par, 6% preferred stock for $70 per share.Purchased 1,000 shares of previously issued common stock for $15 per share.Reported net income of $200,000.
Declared and paid a total dividend of $40,000.
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Assume that retained earnings had a beginning balance of $75,000. Match the following amounts to the appropriate term (a-h) .
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-$20,000

• A)Treasury stock
• B)Retained earnings
• C)Preferred stock
• D)Excess of issue price over par (preferred)
• E)Common stock
• F)Total paid-in capital
• G)Excess of issue price over par (common)
• H)Total stockholders' equity

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Definitions:

Same-sex Orientation

A romantic or sexual attraction to individuals of the same sex.

Homophobia

Prejudice or discrimination against individuals who are homosexual or perceived to be homosexual.

Sexual Minority

Individuals whose sexual orientation, identity, or practices differ from the majority, often including but not limited to gay, lesbian, bisexual, and transgender people.

Physical Contact

The act of touching or being in close proximity to another individual or object.