Duke Corporation Reports the Following Components of Stockholders' Equity on December

question 51

Multiple Choice

Duke Corporation reports the following components of stockholders' equity on December 31,2010.
$\begin{array}{lr} \text {Common stock- \( \$ 25 \) par value, 100,000 shares authorized, 45,000 shares issued}\\ \text { and outstandino}&\$1,125,000\\ \text { Paid-in capital in excess of par value, common stock } & 60,000 \\ \text { Retained earnings } & 460,000 \\ \text { Total stockholders' equity } & \$ 1,645,000 \\\end{array}$

In year 2011, the following transactions affected its stockholders' equity accounts.
Jan. 1 Purchased 4,500 shares of its own stock at $\$ 27$ cash per share.
Jan. 5 Directors declared a $\$ 3$ per share cash dividend payable on Feb. 28 to the Feb. stockholders of record.

Feb. 28 Paid the dividend declared on January 5
Mar. 3 Sold 1,000 shares of treasury stock for $\$ 28$ per share
May 25 Sold 1,000 shares of treasury stock for $\$ 16$ per share

What is the amount in the Retained Earnings account immediately after the May 25^th sale?

• A)$460,000
• B)$328,500
• C)$444,000
• D)$433,000
• E)$338,500

Identify and describe the characteristics of different biomes, including flora, fauna, and climate conditions.

Recognize and explain the significance of symbiotic relationships in marine ecosystems, with a focus on coral reefs.

Describe the conditions and ecosystems found in estuaries and their importance to marine life.

Explain the concept of monsoons and their impact on regional climates and weather patterns.

---

Definitions:

Estimated Overhead Cost

This refers to the projection or forecast of indirect costs associated with manufacturing processes, not directly tied to specific units of production.

Expected Activity

The projected level of activity or volume of work anticipated for a certain period, often used for planning and budgeting purposes.

Activity Rate

A measure used in activity-based costing to assign costs to activities based on their use of resources.