v2.cengagenow.comApps Dashboard | Georgia Northwestern Technical Coll...Bb My Grades - ACCT1105: Financial Accounting II (...a. Declaring a cash dividendb. Paying the cash dividend declared in (a)c. Declaring a stock dividendd. Issuing stock certificates for the stock dividend declared in (c)Indicate whether the following actions would (+) increase, (-) decrease, or (0) not affect a company's total assets, liabilities, and stockholders' equity.LiabilitiesStockholder's EquityAssets) +C CengageNOWv2 | Online teaching and learning res

Assets are the resources owned by the entity. These can be non-current and current. Liabilities are…

Answered: Indicate whether the following actions…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings

Section: Chapter Questions

Problem 2MC

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Identify the account(s) needed to enter the transaction. Indicate whether entry is debit (DR) or credit (CR). 1. Declared stock dividend based on market price or lower than par ______________ 2. Distribution of no.1 stock dividends. _______________ 3.Cash sale of bond between interest date _______________ 4. Payment of interest on No. 3 above. _______________
Current Attenipt in Progress The stockholders' equity accounts of Bramble Corporation on January 1, 2022. were as follows Preterred Stock (8N. $48 par. 10.000 shanes authorized) $ 384.000 Common Stock ($1 stated value. 2.050.000shares authorized) 1.500.D00 Paid-in Capital in Excess of Par-Preferred Stock 140.000 Paid-in Capit. in Ecess of Stated Value-Common Stock 1450000 Retained Earmings 1.750.000 Treasury Stock (10,500 common sharesl 52.500 During 2022. the corporation had the following transactions and events pertaining tots stockholders eguity Feh. Issued 25.000 shares of common stock for $124,000. Apr. Sold 6.000 shares of treasury stockcommon for $33.700. 14 Sept Issued 4,900 shares of common stock for a patent valued at $35,100 3. 10 Purchased 1.100 shares of common stock for the treasury at a cost of $5.700. Nov Dec 31 Determined that net income for the year was $420.000. No dividends were declared during the year.
Choose the correct classification for the following accounts: A forfeited shares account; A forfeited shares reserve: 1. Liability Asset2. Income Equity3. Expense Liability5. Asset Income5. Liability Equity a. 1 b. 2 c. 3 d. 4 e. 5
Indicate whether each of the following transactions increases (+), decreases (−), or has no effect (NE) on total assets, total liabilities, and total stockholders’ equity. The first transaction is completed as an example. Transaction TotalAssets TotalLiabilities TotalStockholders’ Equity Issue common stock + NE + Issue preferred stock Purchase treasury stock Resell treasury stock
Ma4. A company prepares its financial statements according to IFRS its financial statements include ordinary share capital and share premium the company used US gaap what would be likely account titles for these accounts, respectively •Common stock, par value, additional paid-in capital, Share purchase •Common stock additional paid-in capital •Preferred stock additional paid-in capital preferred stock •Common stock, par value, additional paid-in capital stock options 2) what is the term for actuaria gains and losses and how are they accounted for in the IFRS •Actuarial gains and losses accounted for as an OCI item •Remeasurement gains and losses accounted for as an OCI item •Remeasurement gains and losses accounted for as a profit or loss •Actuarial gains and losses accounted for as a profit or loss
Match each of the following terms with the correct definition: a. additional paid-in capitalb. issued and outstandingc. retained earningsd. treasury stocke. authorized share capitalf. par value Correct Definitions:A. The price at which each share is recorded in the company’s booksB. Held by investorsC. Cumulative amount of profits that have been plowed backD. The difference between the amount of cash raised by an equity issue and the par value of the issueE. The maximum number of shares that can be issued without shareholder approvalF. The amount that the company has spent buying back stock that it has not subsequently resold
Match each of the following terms with the correct definition: a. additional paid-in capitalb. issued and outstandingc. retained earningsd. treasury stocke. authorized share capitalf. par value Correct Definitions:A. The price at which each share is recorded in the company’s booksB. Held by investorsC. Cumulative amount of profits that have been plowed backD. The difference between the amount of cash raised by an equity issue and the par value of the issueE. The maximum number of shares that can be issued without shareholder approvalF. The amount that the company has spent buying back stock that it has not subsequently resold SELECTED FORMULAS PVIFA = PVIF = requity = rassets + (rassets – rdebt) PV of tax shield = = Tc *DWACC = (1-Tc) * *() + *()
The entry to record common stock issued at its par value includes a: A. credit to Cash B. debit to Retained Earnings C. credit to the Common Stock account D. debit to Paid-in Capital in Excess of Par Value-Common
Which of the following decreases total equity? A. A stock split B. Recording Revenue C. The purchase of Treasury Stock D. Issuance of Convertible preferred stock
Treasury Stock Refer to the information for Heitman Company above. Required: 1. How will this transaction affect stockholders equity? How will this transaction affect net income?
1. It represents the cumulative balance of periodic earnings, dividend distributions, prior period adjustments and other capital adjustments. a. Income summaryb. net incomec.dividends d. accumulated profits 2. The date on which liability for dividends must be recorded a. Date of recordb.Date of issuance c.Date of payment d. Declaration date 3. The amount attributable to every share of ordinary share capital outstanding during the period. a. Par value b. Stated value c. Carrying value d. Bookvalue 4. The date which determines who gets the dividend a. Date of payment b. Date of declaration c. Date of record d. Date of issuance 5. How is the treasury share account presented in the Statement of Financial Position? a. deducted from accumulated profitsb. deducted from shareholders’ equityc. part of reservesd. current asset
On December 31, the stockholders' equity section of the balance sheet of Monk Associates reflected the following: Common stock (par $10; 60,500 shares authorized; 25,500 issued and outstanding) Additional paid-in capital Retained earnings $ 255,000 12,500 77,500 On February 1 of the following year, a 12 percent stock dividend was issued. The market value of the stock on February 1 was $18 per share. Required: 1. For comparative purposes, prepare the stockholders' equity section of the balance sheet (a) immediately before the stock dividend and (b) immediately after the stock dividend. 2. If the stock dividend were 100%, would the additional paid-in capital account be affected?

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