Aim, Inc., has 10,000 shares of 5 %, $ 100 par value, noncumulative preferred stock and 40,000 shares of $ 1 par value common stock outstanding at December 31, 2013. There were no dividends declared in 2012. The board of directors declares and pays a $ 120,000 dividend in 2013. What is the amount of dividends received by the common stockholders in 2013?
$ 0 $ 50,000 $ 70,000 $ 20,000 3- Multiple Choice Question 201 A net loss occurs if operating expenses exceed cost of goods sold.
is closed to Retained Earnings even if it would result in a debit balance.
is closed to the paid-in capital account of the stockholders’ equity section of the balance sheet.
is not closed to Retained Earnings if it would result in a debit balance. 4- Multiple Choice Question 98
Hsu, Inc. issued 7,500 shares of stock at a stated value of $ 8 / share. The total issue of stock sold for $ 15 per share. The journal entry to record this transaction would include a