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14) Which of the following is a following is constatement concerning the reporting of a defined a pension planche of the employer balance A Only plan assets are separately B) Only the projected C) Both the presected benefit obligation (PBO) is separately reported Projected benefit obligation (PBO) and the plan assets are separately. reported D) The projected be projected benefit obligation (PBO) and plan assets are reported as a net amount either a pension liability or pension asset upany initially issued 300,000 shares of $1 par stock for $1,500,000 in the company purchased 30,000 shares for $300,000. Repurchased not retired, but were held as treasury stock. In 2021, 15,000 of the shares were resold for $240,000. In its balance sheet dated December C) $300,000 D) $ 60,000 15) Worthy Company initially issued 2018. In 2020, the company LOL shares were not retired, but L Worthy's treasury stock account shows a balance of A) $1,200,000 B) $150,000 At the beginning of 2016 Frily Cormation issued $1,000,000, 5%, cumulative acred stock. No dividends were paid to preferred or common shareholders in 16 and 2017. What amount of dividends will preferred shareholders receive in 2018 if Emily Corp pays $1,000,000 in dividends? A) $50,000 B) $150,000. C) $100,000 D) $1,000,000 17) When dividends are declared in one fiscal year and paid in the next fiscal year, the liability for the dividend should be recorded as of the A) Date of payment B) Date of record C) Date the dividend is declared. D) Last day of the fiscal year. 17) 18) - 18) Rick Co had 30 million shares of Si par common stock outstanding at January 1, 2018. In October 2018, Rick Co.'s Board of Directors declared and distributed a 1% common stock dividend when the market value of its common stock was $60 per share. In recording the stock dividend, Rick Co. would: A) Credit retained earnings for $18 million. B) Debit retained earnings for $300,000. C) Debit retained earnings for $18 million D) Credit retained eamings for $300,000 19) 19) "Share issue costs" refer to the costs of obtaining the legal, promotional, and accounting services necessary to effect the sale of shares. Share issue costs reduce the net cash proceeds from selling the shares. Share issue costs are: A) Recorded as a reduction of shareholders equity. B) Recorded as an asset. C) Recorded as a liability. D) Amortized over time

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