The following information pertains to Roku's initial public offering:

The following information pertains to Roku's initial public offering:

times•    Roku's initial public offering (IPO) was on September 28, 2017

times•    Issued 15,900,000 shares; $13.80 per share

times•    Net cash proceeds $219,420,000

times•    Par value per share $0.0001

Roku's IPO has a direct impact on its net income.

A. True

B. False

If stock is issued for an asset other than cash, the asset should be recorded on the books of the corporation at:

A.
Cost

B.
Par value of the stock

C. Fair market value

D.
Zero

Hudson Corporation issued 7,000 shares of its $5 par value common stock in payment for attorney services of $ 45,000. Hudson stock has been actively trading at $ 16 per share. This transaction would include a:

A. Credit to common stock $ 45 comma 000
B. Debit to legal expense $ 112 comma 000
C. Credit to common stock $ 112 comma 000
D.Debit to legal expense $ 45 comma 000

The following information pertains to Roku's initial public offering:

times•    Roku's initial public offering (IPO) was on September 28, 2017

times•    Issued 15,900,000 shares; $13.80 per share

times•    Net cash proceeds $219,420,000

times•    Par value per share $0.0001

What is the stock issuance impact on Roku's balance sheet?

A.
Assets remain the same, liabilities remain the same, stockholders' equity increases

B. Assets increase, liabilities remain the same, stockholders' equity increases

C.
Assets increase, liabilities decrease, stockholders' equity increases

D.
Assets decrease, liabilities remain the same, stockholders' equity increases

The statement of stockholders' equity includes:

A. Each stockholders' equity account

B.
Each liability account

C.
Each asset account

D.
Each revenue and expense account

The date when a cash dividend becomes a legal obligation is on the:

A. Declaration date

B.
Payment date

C.
Last day of the corporate year

D.
Date of record

The effect of the declaration of a cash dividend is a(n):

A.
Increase to stockholders' equity and a decrease to assets

B. Increase to liabilities and a decrease to stockholders' equity

C.
Increase to assets and a decrease to liabilities

D.
Increase to liabilities and a decrease to assets

When 50 shares of $1 par value Common Stock are issued at $28 per share, Additional Paid-in Capital will:

A.
Stay the same

B.
Increase by $ 1 comma 400$1,400

C.
Increase by $ 50$50

D. Increase by $ 1 comma 350

Which of the following is NOT considered to be an advantage of forming a corporation?

A. Government regulation

B.
Continuous life

C.
Limited liability of stockholders for corporation's debts

D.
Ability to raise more capital than a partnership or proprietorship