Practice Quiz 9B
Complete the following quiz for the lesson: Debt and Equity Financing
Bonds are issued by a company: *
1 point
Debentures are *
1 point
Serial bonds are bonds that require periodic interest and principal payments over the term of the bonds. *
1 point
On 9/1/X1 XYZ Company issued \$10,000,000 of bonds at face value, bearing interest at an annual rate of 6% payable semi-annually on 3/1 and 9/1 each year through maturity on 9/1/X6. The entry to record the issuance of the bonds on 9/1/X1 would be: *
1 point
Given the information provided in the previous problem what, if any, adjusting entry would be required on the books of XYZ Company on 12/31/X1? *
1 point
The par value of a company's common stock reflects *
1 point
River, Inc. issued for \$13 per share 6,000 shares of \$1 par value common stock. The journal entry to record this transaction is *
1 point
If XYZ Corp. issued 10,000 shares of \$10 par value 7% cumulative preferred stock at a price of \$12 per share the amount of cash received by XYZ upon issuance would equal *
1 point
Benji, Inc. has outstanding 5,000 shares of 5% \$100 par value, cumulative preferred stock, and 10,000 shares of \$50 par value common stock. If dividends in arrears amount to \$25,000, and the total cash dividend declared this year is \$110,000, the total amounts distributed to preferred and common stockholders are, respectively, *
1 point
Dividends in arrears applies only to *
1 point
Dividends in arrears are always recorded as a liability on the issuing company's balance sheet. *
1 point
Which of the following sequences of dividend-related dates is in the correct chronological order (earliest date first)? *
1 point
Dividends are recorded as a liability only *
1 point