Hello! May I please have help with my exam? (Price suggested


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Hello! May I please have help with my exam? (Price suggested based on time given and type of questions in test) Keep in mind this is without tip!! Thank you! Test_5.docx SECTION 1: MULTIPLE CHOICE 1. A bond that may be retired before maturity at the option of the issuing corporation is a a. Debenture bond b. collateral bond c. bearer bond d. registered bond e. callable bond 2. A bond that is unsecured is called a a. Debenture bond b. serial bond c. bearer bond d. registered bond e. callable bond 3. A bond that pays the interest and face value payments to the person that is physically holding the bond is called a a. Debenture bond b. serial bond c. bearer bond d. registered bond e. callable bond 4. It is better to start saving for retirement as soon as possible so that it has more time to increase in value True False 5. Depreciation would be added back to net income in the operating section of the statement of cash flows because there is no cash outflow. True False 6. Treasury stock is found in the liability section of the balance sheet True False 7. Stock splits will increase the par value of the common stock True False 8. When a large stock dividend is declared and distributed, which accounts are affected overall a. Retained earnings and cash b. Retained earnings, common stock c. Retained earnings, common stock, paid in capital in excess of par valuecommon stock d. Retained earnings, common stock, cash 9. When a small stock dividend is declared and distributed, which accounts are affected overall a. Retained earnings and cash b. Retained earnings, common stock c. Retained earnings, common stock, paid in capital in excess of par value-common stock d. Retained earnings, common stock, cash 10. When a cash dividend is declared and paid out, which accounts are affected overall a. Cash, retained earnings b. Cash, retained earnings, common stock c. Cash, retained earnings, dividend revenue d. Cash retained earnings, common stock, paid in capital in excess of par valuecommon stock 11. A partnership can be made up of a total of 10 limited partners True False 12. When a partner leaves, the partnership must be totally liquidated and all assets sold off. True False 13. If partners A, B, C share profits and losses in the ratio of 6:5:9 and there was $100,000 to distribute, the partners would receive the following a. b. c. d. A 33,333 40,000 30,000 60,000 B 33,333 20,000 25,000 50,000 C 33,334 60,000 45,000 ( 10,000) 14. A $100,000 bond is sold at 98. How much did the bond sell for? ______ SECTION 2 SHORT ANSWER 1. The Zipper Company has 40,000 shares of preferred 10% $100 par value cumulative stock. The years of 20×0, 20×1, 20×2 are in arrears. The current year is 20×3. The Zipper Company must declare a dividend of how much before any dividends can be paid to the common shareholders: _______________ 2. The Flakes on Your Shoulder Company has $15,000 worth of 12% noncumulative, preferred stock outstanding and $90,000 of common stock outstanding. In the first year of operations, no dividends were paid but during the second year, dividends of $46,000 were paid. How much was allocated to Preferred and to Common. Preferred Common ______________ _____________ 3. The Sip Your Drink Comp sold 40,000 shares of its $10 par value common stock at a cash price of $22 per share. The entry to record this transaction was: 4 On May 31, 20X1, the XYZ company declared a cash dividend of $2.00 per common share outstanding to the stockholders on record on June 10 to be paid on June 30. They have 20,000 authorized common shares and 13,000 issued and outstanding common shares. What is the necessary journal entry that should be made on May 31, 20X1 5. On May 31, 20X1, the XYZ company declared a cash dividend of $2.00 per common share outstanding to the stockholders on record on June 10 to be paid on June 30. They have 20,000 authorized common shares and 13,000 outstanding common shares. What is the necessary journal entry t

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