美國CPA模擬習(xí)題：股東權(quán)益、現(xiàn)金流量和比率分析（三）

為了幫助參加2014年美國cpa考試的學(xué)員鞏固知識，提高備考效果，正保會計網(wǎng)校特為大家整理了美國cpa考試模擬試題，幫助廣大考生一起學(xué)習(xí)一起進(jìn)步。

　　In September，Year 1，West Corp. made a dividend distribution of one right for each of its 120，000 shares of outstanding common stock. Each right was exercisable for the purchase of 1/100 of a share of West's $50 variable rate preferred stock at an exercise price of $80 per share.On March 20，Year 5，none of the rights had been exercised，and West redeemed them by paying each stockholder $0.10 per right. As a result of this redemption，West's stockholders' equity was reduced by：

　　a.$36，000

　　b.$12，000

　　c.$120

　　d.$2，400

　　Explanation

　　Choice “b” is correct. In Year 1，no dividend was recorded since none of the rights were exercised and no value was assigned. In Year 5，redemption reduced equity by $12，000 [120，000 rights x $.10 per share].

　　Choice “c” is incorrect. Since each right is exercisable for 1/100 of a share，the total potential shares to be purchased with the rights totals 1，200 shares （120，000 rights @ $.10 per share）。This choice erroneously multiplies the redemption price of $.10 times 1，200 shares.

　　Choice “d” is incorrect. This choice erroneously divides the 120，000 rights by the $50 par value. This is a meaningless amount.

　　Choice “a” is incorrect.This choice erroneously multiplies the 1，200 shares by the $30 difference between $50 par and $80 exercise price.This amount would be credited to APIC if the rights were exercised.