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problem1: Carter Company had net income of $250,000 and paid dividends of $50,000 to common stockholders and $20,000 to preferred stockholders in 2008. Carter Company's common stockholders' equity at the beginning and end of 2008 was $870,000 and $1,130,000, respectively. There are 100,000 weighted-average shares of common stock outstanding.

Carter Company's return on common stockholders' equity was

[A] 20%

[B] 18%

[C] 25%

[D] 23% 

problem2: Rancho Company sold 100 shares of treasury stock for $40 per share. The cost for shares was $30. The entry to record the sale will include a

[A] Debit to Paid-in Capital in Excess of Par Value for $1,000

[B] Credit to Treasury Stock for $4,000

[C] Credit to Gain on Sale of Treasury Stock for $3,000

[D] Credit to Paid-in Capital from Treasury Stock for $1,000

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M922892

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