FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
7. Which of the following dividends are not considered current liabilities when declared?
a. property dividends
b. stock dividends
c. scrip dividends
d. cash dividends
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- For fi nancial assets classifi ed as held to maturity, how are unrealized gains and losses refl ected in shareholders’ equity?B . Th ey fl ow through retained earnings.arrow_forwardCash dividends are initially recorded on which date? Multiple Choice O Date of record. O Balance sheet date. O Date of declaration.arrow_forwardTreasury stock is classified as a(n) O Asset O Liability O Equity O Revenue or gain O Expense or loss Marrow_forward
- The Share Premium-Ordinary account represents the amount of legal capital. is reported as part of equity on the statement of financial position. is credited when a no-par share does not have a stated value. normally has a debit balance. OOOarrow_forwardThe date on which liability for dividends must be recorded. * a. Date of payment b. Date of record c. Declaration date d. Date of issuancearrow_forwardFor fi nancial assets classifi ed as held to maturity, how are unrealized gains and losses refl ected in shareholders’ equity?C . Th ey are a component of accumulated other comprehensive income.arrow_forward
- 8. Discount on Note Payable should be classified as a a. current asset b. contra account to Notes Payable c. part of stockholder's equity d. deferred debtarrow_forwardWhich of the following is the appropriate general journal entry to record the declaration of cash dividend? a. Retained Earnings XXX Cash XXX b. Cash Dividend Payable XXX Cash XXX c. Paid-In Capital Cash Dividend Payable XXX XXX d. Cash Dividends Cash Dividends Payable XXX XXXarrow_forwardDo you add or subtract total retained earnings with paid in capital when accounting stock?arrow_forward
- With regard to cash dividends, an entry is not made on the A.date or payment and date of declaration. B.date of record. C.date of declaration. D.date of payment.arrow_forwardWhy the dividend does exceeds the balance in retained earnings, the excess referred to as a liquidating dividend?arrow_forwardWhich of the following is the definition of return on common equity?A. Net income / Average common equityB. Operating income / Average common equityC. Comprehensive income / Average common equityD. None of the abovearrow_forward
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