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