FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Which of the following is not an undistributable reserve? A. Share premium account B. Capital redemption reserve C. Unrealised profits D. Accumulated realised profitsarrow_forwardWhat is the difference between common stock, preferred stock and capital? Do all of these accounts appear in equity? Do they have DR or CR balances?Finally how many and what other accounts can be under equity?arrow_forwardwhen shares are issued at a premium the value of the share premium should be : a- taken to the profit and loss account b- shown under current liabilities in the balance sheet c- shown under capital & reserves in the balance sheet d- taken to the trading accountarrow_forward
- 14) Which of the following is the least liquid current asset? A) Accruals B) Accounts receivable C) Marketable securities D) Inventoryarrow_forwardSpecify the section of a classified balance sheet in which each of the following accounts would be found.1) Preferred Stock2) Machinery3) Additional Paid-in-Capitalarrow_forward14. Which of the following would be classified as a financing activity on a statement of cash flows? Sale of a loan receivable Payment of interest to a creditor Payment of a bond payable Declaration and distribution of a stock dividendarrow_forward
- Common Stock investments using the fair value method are: A. reported at fair value on the balance sheet. B. reported at cost on the balance sheet. C. reported with property, plant and equipment on the balance sheet. D. not reported on the balance sheet.arrow_forwardThe 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_forward3. Which of the following categories of investments are reported at their fair values on the balance sheet and have unrealized holding gains and losses included as a separate component of stockholders' equity? a. held-to-maturity debt securitiesb. marketable securitiesc. available-for-sale securitiesd. trading securitiesarrow_forward
- Do you add or subtract total retained earnings with paid in capital when accounting stock?arrow_forwardwhich of the follwoing are financial claims? bonds pension obligations equity both bonds and equityarrow_forwardWhich of the following would NOT be reported for capital stock in the contributed capital section of a classified balance sheet? Group of answer choices A.Dividends per share B.Shares issued C,Shares outstanding D.Shares authorizedarrow_forward
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