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- For fi nancial assets classifi ed as trading securities, how are unrealized gains and losses refl ected in shareholders’ equity? C . Th ey are a component of accumulated other comprehensive income.Subscription receivable and other receivables from sale of shares which are collectible currently shall be presented as Choices; current assets deduction from the related subscribed share capital long-term investment other assetsThis account represents that portion of the subscribed share capital which remains uncollected Choices; Subscription receivable Subscribed capital stock authorized capital stock share premium
- Mandatorily redeemable preferred stock (preference shares) is reported among liabilities and their dividends are reported in the income statement as interest expense using a. U.S. GAAP. b. IFRS. c. Both U.S. GAAP and IFRS. d. Neither U.S. GAAP nor IFRS.Subject: Financial Accounting and Reporting Required: Determine the followinga. Issue price of preference sharesb. Ordinary shares issuedc. Ordinary shares outstandingd. Issue price of ordinary sharese. Legal capital of the corporationf. Contributed capital of the corporationg. Total shareholders’ equityh. Cost per treasury shareIndicate how each of the following accounts should be classified in the equity section.(a) Share Capital—Ordinary. (e) Share Premium—Treasury.(b) Retained Earnings. (f) Share Capital—Preference.(c) Share Premium—Ordinary. (g) Accumulated Other Comprehensive Income.(d) Treasury Shares.
- How would the share dividends distributable account balance be presented on the statement of financial position? * a. as part of current liabilities b. as addition to share capital c. as addition to retained earnings d. as addition to additional paid in capitalThe term reserves is used under IFRS with reference to all of the following except:(a) gains and losses on revaluation of property, plant, and equipment.(b) capital received in excess of the par value of issued shares.(c) retained earnings.(d) fair value differencesWhich of the following best represents the hierarchy of creditor and stockholder claims? Group of answer choices A. Senior secured debt, subordinated debentures, common stock B. Senior debentures, subordinated debentures, junior secured debt C. Common stock, senior secured debt, subordinated debentures D. Preferred stock, secured debt, debentures
- In computing basic EPS, the amount of preference dividends onnoncumulative preference shares should be A. deducted from net income whether declared or notB. deducted from net income only when declaredC. added to net income only when declaredD. ignoredSpecify the section of a classified balance sheet in which each of the following accounts would be found.1) Preferred Stock2) Machinery3) Additional Paid-in-CapitalFifo, Lifo and weighted average methods are related to? A. Inventory valuation B. Non current liabilities C. Issue of shares