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MAN1110 Week 5

Authored by Yoo Ri Kim

Mathematics

University

Used 3+ times

MAN1110 Week 5
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5 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A company issues 60,000 £1 shares at a price of £1.50 per share. How much should be credited to the share premium account?

£30,000

£90,000

£60,000

£40,000

Answer explanation

=60,000 x (£1.50-£1)

= 60,000 x £0.5

= £30,000

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In the published accounts of ZYX Co, the profit for the period is £4,500,000. The balance of retained profits at the beginning of the year is £1,500,000. If dividends of £2,500,000 were paid, what is the closing balance of retained profit?

£4,000,000

£1,500,000

£3,500,000

£3,000,000

Answer explanation

Profit – Dividends = Retained profits at the end of the year

4,500,000-2,500,000=2,000,000

Retained profit at the start of the year + at the end of year

1,500,000+2,000,000=3,500,000

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If shares are sold for more than par value, the stock is sold at a:

Discount

Gain

Premium

Loss

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Exteriors PLC issues 5,000 ordinary shares of £2 for £2.80 per share. The amount credited to share premium account is:

£10,000

£14,000

£6,000

£4,000

Answer explanation

= 5,000 x (£2.80-£2)

= 5,000 x £0.8

= £4,000

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Earnings that a stockholder receives from a company is an example of which stockholder right?

Vote

Dividends

Liquidation

Preemption

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