Download - Chapter 07 SM (Incomplete)
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Chapter 7
Corporate Form of Business Organization
Multiple Choice Questions
1. D 6. C
2. B 7. C
3. A 8. A
4. D 9. C
5. B 10. A
Test Material
Test Material 7-1
Canada Corporation
Shareholders E!it"
#!ne 30$ 2007
Contri%!ted Capital
&re'eren(e shares ) &100 par *al!e$ 8+
(!,!lati*e (on*erti%le$ 2$000 share
a!thori-ed and o!tstandin &200$000
&aid/in (apital in e(ess o' par *al!e 10$000 &210$000
rdinar" shares ) &10 stated *al!e$ 50$000
shares a!thori-ed$ 30$000 shares
o!tstandin &300$000
rdinar" shares s!%s(ri%ed 100$000&aid/in (apital in e(ess o' stated *al!e 50$000 450$000
otal (ontri%!ted (apital &660$000
etained earnins de'i(it 20$000
otal shareholders e!it" &640$000
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2 Chapter 7
Test Material 7-2
ran(is(o Corporation
Shareholders E!it"
De(e,%er 31$ 2007
Contri%!ted Capital
&re'eren(e shares ) &100 par *al!e$ 9+
(!,!lati*e$ 20$000 shares a!thori-ed
ss!ed and o!tstandin$ 5$000 shares &500$000
S!%s(ri%ed %!t not iss!ed$ 1$000 shares 100$000
&aid/in (apital in e(ess o' par *al!e )
pre'eren(e 18$000 & 618$000
rdinar" shares ) &10 par *al!e$ 100$000shares a!thori-ed$ 70$000 shares
o!tstandin &700$000
&aid/in (apital in e(ess o' par *al!e 560$000 1$260$000
otal (ontri%!ted (apital &1$878$000etained earnins de'i(it 122$000
otal shareholders e!it" &1$756$000
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