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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
debit to Cash for $60,000.
credit to Common Stock for $60,000.
credit to Common Stock for $112,500.
credit to Paid-in Capital in Excess of Par for $112,500.
5- Multiple Choice Question 169
The per share amount normally assigned by the board of directors to a
large stock dividend is
the average price paid by stockholders on outstanding shares.
the par or stated value of the stock.
zero.
the market value of the stock on the date of declaration.
6IFRS Multiple Choice Question 345
IFRS treats the purchase of treasury stock as any of the following
except
a decrease to retained earnings.
an increase to a contra equity account.
a decrease to share premium.