The term deficit is used to refer to a debit balance in which of the following accounts of a corporation? Group of answer choices Retained Earnings Treasury Stock Organizational Expenses Common Stock

Q: .Which of the following would not be found on the statement of changes in stockholders’ equity?   a.…

A: Shareholder's Equity: It is the sum of the share capital and reserves and surplus / retain earnings.…

Q: The wealth created by a company is reflected in the Select one: a. Current liabilities O b. Current…

A: The wealth is created by the business organization which provides value to the organization. The…

Q: Which of the following items is not a required component of US public firms financial statements? A…

A: The ASC (US GAAP) are a set of accounting standards maintained by the Financial Accounting Standard…

Q: Autry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet…

A: The various sections of cash flow statement are classified as operating, investing and financing…

Q: Which of the following users of accounting verifies accounting information to check the Tax…

A: Regulatory agencies check whether the company is complying with all the tax compliance of the…

Q: What are if any the differences between Stockholder's Equity, Retained Earnings, Common Stock,…

A: Owner’s equity is the difference between total assets and total liabilities. Owner’s equity is…

Q: All of the following terms can be used for a corporation to describe the difference between assets…

A: The balance sheet represents the financial position of the business with assets, liabilities and…

Q: Retained Earnings ii) Common Shares iii) Unrealised Gains iv) Mezzanine Debt   a. ii only b.…

A: An unrealised gain is a theoretical profit or deficit that exists on balance, resulting from an…

Q: Retained earnings refer to the portion of a corporation's profits that are paid out to shareholders.…

A: B.  false Retained earnings are not paid to shareholders.  Generally dividend paid to shareholders ,…

Q: The business document that reports assets, liabilities and stockholders’ equity is knows as:

A: Answer:   Balance sheet.

Q: mount of dividends that a corporation may declare? a. Cash flow test b. Book value test c.…

A: The right answer is d. Income to expense ratio test

Q: The total owners' equity is usually under a number of subcaptions on the corporations balance sheet.…

A: Shareholder equity is the section that foremost comes in the liability side of the balance sheet

Q: 1. Income statement?

A: Income tax is a type of direct tax that a government imposes on its people' earnings.Money gained in…

Q: Which of the following financial statements shows how net income (loss) and dividends impacted a…

A: Out of the profit earned by the business organization, some of the profit is distributed by them to…

Q: On a corporate income statement, income from continuing operations a. will exceed net income. b.…

A: Income from continued operations is the income which is calculated after subtracting operating and…

Q: Comparing dividends per share to earnings per share indicates the extent to which the corporation is…

A: Dividend is the amount distributed to the shareholders out of excess profits.

Q: Which of the following are the three basic elements of the balance sheet of a corporation?

A: Accounting Equation: accounting equation is the basis of accounting which is Total Asset = Total…

Q: Accounting estimates are those adopted by an entity in preparing and presenting its financial…

A: Explanation: Accounting estimates is a approximate amount that is used for measurement when there is…

Q: The date of record is the date: Group of answer choices A)On which the board of directors of a…

A: The date of record is the date on which the company checks its records to identify shareholders of…

Q: Which of the following would NOT be included as an asset on a corporate balance sheet? lect one: O…

A: Assets means It is a resource with economic value that an individual, corporation, or country owns…

Q: the issuance of its stock is an example of which type of business activity?

A: First we should know the meaning of all this terms,  a) Operating :- Its name is explaining…

Q: Which of the following is not an account appearing in the equity section of a corporation's…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: The accounting equation for a corporation is Total Assets = Liabilities + Stockholders’ Equity.…

A: Assets, liabilities, and stockholder's equity are part of the balance sheet of a company.  The…

Q: Hame the Sub-headings under which Shareholder's Funds shall be classified in pany's Balance Sheet,

A: Solution Concept In a balance sheet there are two sides , assets and liabilities and equity In…

Q: Dividends are (Select all that apply.) required amounts owed to shareholders reported on the Income…

A: The dividend is considered as a part of the distributable profit distributed by the company to its…

Q: The two main sources of stockholders' equity are investments by stockholders and dividends pald 9net…

A: Stockholders’ equity: The claims of owners on a company’s resources, after the liabilities are paid…

Q: Which one or more of the following is a company obliged to disclose when preparing financial…

A: Disclosures in the Financial Statements of the company :          The purpose of the financial…

Q: Retained earnings refers to Group of answer choices Cash and other assets The amount of net income…

A: Retained earnings are the portion of a company's net income that management retains for internal…

Q: The four major financial statements of a corporation consist of the a. Income statement, balance…

A: Income statement, also called as the Profit and Loss statement, is a performance report which…

Q: Stockholders’ equity represents the total value of a corporation’s stock plus retained earnings that…

A: It is the actual amount of total assets left to the shareholder after meeting up the liabilities of…

Q: How to make a shareholder's Equity? How to journalized retained earnings and dividends?

A: ‘’Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: demonstrate an understanding of accounting in corporations. describe types of corporations (e.g.,…

A: Accounting in corporation basically deals with the cash flow statements, financial statements, ratio…

Q: To determine the amount of debt a corporation has, the user should examine: O A. Income statement B.…

A: Introduction: Financial statements: 1 ) Income statement 2 ) Cash flows statement 3 ) Balance sheet.

Q: Shareholders' equity is the corporate accounting element when we subtracted corporate assets from…

A: Total Assets = Total Liabilities + Shareholders' equity Shareholders' equity = Total Assets - Total…

Q: In a limited company which of the following is shown in the statement of changes in equity?     a.…

A: Statement of changes in equity: The statement of change in equity includes profit earned or transfer…

Q: Explain how earnings per share should be computed and how the information should be disclosed in the…

A: Earnings per share: Earnings per share represent the amount of income earned per share of…

Q: Which financial instrument represents ownership in a corporation and entitles the holder to a share…

A: Option a. BondIncorrect. Bonds are fixed income securities where the issuer has a legal obligation…

Q: Which account from the Statement of Changes in Equity is reported on the Statement of Financial…

A: A statement of change in equity is prepared to determine the change in the owners’ funds (equity).…

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.