Dividends payable is credited for the amount of cash dividends on: Date of Payment B. Date of Record C. Last date in the fiscal period D.

Dividends payable is credited for the amount of cash dividends on:

A.   Date of Payment

B.    Date of Record

C.    Last date in the fiscal period

D.   Date of Declaration

Burger King has 100,000 authorized shares of $5 par common stock. Burger King issued 40,000 shares at $7. Subsequently, the company declared a 2% stock dividend on a date when the market price was $9 a share. The effect of the declaration and issuance of the stock dividend is to:

A.   Retained Earnings: Decrease; Common Stock: Increase; APIC in Excess of Par: Increase

B.    Retained Earnings: Increase; Common Stock: Decrease; APIC in Excess of Par: Decrease

C.    Retained Earnings: Increase; Common Stock: Decrease; APIC in Excess of Par: Increase

D.   Retained Earnings: Decrease; Common Stock: Increase; APIC in Excess of Par: Decrease

What is the total stockholder's equity balance of McDonald's based upon the following account balances listed below: 

Common Stock

$1,000,000

Paid-In Capital Excess of Par

$80,000

Retained Earnings

$380,000

Treasury Stock

$40,000

A.   $1,040,000

B.    $1,060,000

C.    $1,420,000

D.   $1,500,000

Taco Bell purchases 20,000 shares of its own $20 par common stock for $35 per share. What will be the effect on Taco Bell's Total Stockholders' equity?

A.   Increase by $400,000

B.    Increase by $700,000

C.    Decrease by $400,000

D.   Decrease by $700,000

Treasury Stock represents stock that is:

A.   Authorized but not issued

B.    Issued but not outstanding

C.    Issued and outstanding

D.   Authorized and outstanding