21.If the dividend amount of preferred stock, $50 par value, is quoted as 8%, then the dividends per share would be $4.
a.True
b.False
22.If 50,000 shares are authorized, 41,000 shares are issued, and 2,000 shares are reacquired, the number ofoutstanding shares is 43,000.
a.True
b.False
23.Preferred stockholders must receive their current-year dividends before the common stockholders can receive anydividends.
a.True
b.False
24.If a corporation is liquidated, preferred stockholders are paid before the creditors and before the commonstockholders.
a.True
b.False
25.Paid-in capital may originate from real estate transactions.
a.True
b.False
26.The par value of stock is an assigned per share amount defined in many states as legal capital.
a.True
b.False
27.A large public corporation normally uses registrars and transfer agents to maintain records of the stockholders.
a.True
b.False
28.When common stock is issued in exchange for land, the land should be recorded in the accounts at the par value ofthe stock issued.
a.True
b.False
29.When a corporation issues stock at a premium, it reports the premium as an other income item on the incomestatement.
a.True
b.False
30.When no-par stock is issued, Common Stock is credited for the selling price of the stock issued.
a.True
b.False