HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
7th Edition
ISBN: 9780136505273
Author: MILLER-NOBLES
Publisher: PEARSON
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Chapter 13, Problem 2QC
To determine
To find: the two basic sources of stockholders’ equity.
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The accounting equation can be stated as:
OA. Assets = Liabilities + Paid - in Capital + Retained Earnings.
OB. Assets = Liabilities + Paid - in Capital
Common Stock.
C. Assets = Liabilities - Paid-in Capital - Dividends.
D. Assets + Liabilities = Stockholders' Equity.
-
The two basic sources of stockholders’ equity are
a. assets and equity.
b. preferred and common.
c. retained earnings and dividends.
d. paid-in capital and retained earnings.
For each item below, indicate to which category of elements of financial statements it belongs.
a. Retained earnings.
b. Sales.
c. Additional paid-in capital.
d. Inventory.
e. Depreciation.
f. Loss on sale of equipment.
g. Interest payable.
h. Dividends.
i. Gain on sale of investment.
j. Issuance of common stock.
Chapter 13 Solutions
HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
Ch. 13 - Prob. 1QCCh. 13 - Prob. 2QCCh. 13 - Suppose Value Home and Garden Imports issued...Ch. 13 - Prob. 4QCCh. 13 - Prob. 5QCCh. 13 - Assume that a company paid 6 per share to purchase...Ch. 13 - Prob. 7QCCh. 13 - A small stock dividend a. decreases common stock....Ch. 13 - Jackson Health Foods has 8,000 shares of 2 par...Ch. 13 - Prob. 10QC
Ch. 13 - Prob. 1RQCh. 13 - Prob. 2RQCh. 13 - How does authorized stock differ from outstanding...Ch. 13 - What are the four basic rights of stockholders?Ch. 13 - How does preferred stock differ from common stock?Ch. 13 - Prob. 6RQCh. 13 - What are the two basic sources of stockholders'...Ch. 13 - Prob. 8RQCh. 13 - If stock is issued for assets other than cash,...Ch. 13 - Prob. 10RQCh. 13 - Where and how is treasury stock reported on the...Ch. 13 - What is the effect on the accounting equation when...Ch. 13 - What are the three relevant dates involving cash...Ch. 13 - How does cumulative preferred stock differ from...Ch. 13 - What is a stock dividend?Ch. 13 - Prob. 16RQCh. 13 - What are some reasons corporations issue stock...Ch. 13 - Prob. 18RQCh. 13 - What does the statement of retained earnings...Ch. 13 - What is a prior-period adjustment?Ch. 13 - Prob. 22RQCh. 13 - What does earnings per share report, and how is it...Ch. 13 - What is the price/earnings ratio, and how is it...Ch. 13 - What does the rate of return on common stock show,...Ch. 13 - Prob. 13.19E
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- Owners equity represents which of the following? A. the amount of funding the company has from issuing bonds B. the sum of the retained earnings and accounts receivable account balances C. the total of retained earnings plus paid-in capital D. the business owners/owners share of the company, also known as net worth or net assetsarrow_forwardOn which financial statement would the Dividends account appear? A. Balance Sheet B. Income Statement C. Retained Earnings Statement D. Statement of Cash Flowsarrow_forwardClassification of Financial Statement Items Classify each of the following items according to (1) whether it belongs on the income statement (IS) or balance sheet (BS) and (2) whether it is a revenue (R), expense (E), asset (A), liability (L), or stockholders equity (SE) item.arrow_forward
- Stockholders equity consists of which of the following? A. bonds payable B. retained earnings and accounts receivable C. retained earnings and paid-in capital D. discounts and premiums on bond payablearrow_forwardThe metrics based on financial numbers produced by the accounting system are ________. A. quantitative factors B. qualitative factors C. stakeholders D. stockholdersarrow_forwardName the two main components of stockholders; equity. Describe the main sources of change in each component.arrow_forward
- Comprehensive income: includes transactions that affect stockholders equity with the exception of those transactions that involve owners. is considered an appropriation of retained earnings. includes all transactions that are under managements control. is the result of all events and transactions reported on the income statement.arrow_forwardCash dividends declared out of current earnings were distributed to an investor. How will the investors investment account be affected by those dividends under each of the following accounting methods?arrow_forwardRetained earnings is accurately described by all except which of the following statements? A. Retained earnings is the primary component of a companys earned capital. B. Dividends declared are added to retained earnings. C. Net income is added to retained earnings. D. Net losses are accumulated in the retained earnings account.arrow_forward
- Stockholders' equity a.is shown on the income statement b.is usually equal to cash on hand c.includes paid-in capital and liabilities d.includes retained earnings and paid-in capitalarrow_forwardWhich of the following is a stockholders’ equity account? a. Common Stock b. Sales revenue c. Cash d. Landarrow_forwardStockholders' equity a.is usually equal to cash on hand b.includes retained earnings and paid-in capital c.is shown on the income statement d.includes paid-in capital and liabilitiesarrow_forward
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