HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
7th Edition
ISBN: 9780136505273
Author: MILLER-NOBLES
Publisher: PEARSON
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Chapter 13, Problem 5QC
To determine
Stock: It refers to a security issued in a form of certificate. It implies the right of ownership of an investor over a portion of company’s earnings and assets.
To find: what is called a company’s own stock that it has issued and repurchased.
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A company’s own stock that it has issued and repurchased is called
a. outstanding stock.
b. dividend stock.
c. issued stock.
d. treasury stock.
When a company issues a stock dividend which of the following would be affected? a. Earnings per share. b. Total assets. c. Total liabilities. d. Total stockholders’ equity.
Stock Dividends Distributable is classified on the balance sheet as a(n)(a) asset.(b) liability.(c) expense.(d) stockholders’ equity.
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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- Treasury stock is listed as a(n) __________ on the balance sheet. (a) current liability (b) current asset (c) deduction from stockholders equity (d) addition to stockholders equityarrow_forwardStockholders 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_forwardWhich of the following measures the portion of a corporations profit allocated to each outstanding share of common stock? A. retained earnings B. EPS C. EBITDA D. NOPATarrow_forward
- Which of the following are not part of common equity? a. preferred stock c. retained earnings b. common stock d. treasury stockarrow_forwardThe total amount of cash and other assets received by a corporation from the stockholders in exchange for the shares is ________. A. always equal to par value B. referred to as retained earnings C. always below its stated value D. referred to as paid-in capitalarrow_forwardWhich of the following is true of a stock dividend? A. It is a liability. B. The decision to issue a stock dividend resides with shareholders. C. It does not affect total equity but transfers amounts between equity components. D. It creates a cash reserve for shareholders.arrow_forward
- Treasury stock should be reported in the financial statements of a corporation as a(n) Oa. investment Ob. liability Oc. current asset Od. deduction from stockholders' equityarrow_forwardA company’s own stock that it has issued and repurchased is called outstanding stock. dividend stock. issued stock. treasury stock.arrow_forwardStockholders are eligible for a dividend if they own the stock on the date ofa. declaration.b. record.c. payment.d. issuance.arrow_forward
- When a stock dividend is declared, which of the following accounts is credited? O a. Common Sock O b. Dividend Payable O c. Stock Dividends Distributable O d. Retained Earningsarrow_forwardIndicate how each of the following accounts should be classified in the stockholders’ equity section. a. Common Stock. b. Retained Earnings. c. Paid-in Capital in Excess of Par—Common Stock. d. Treasury Stock. e. Paid-in Capital from Treasury Stock. f. Paid-in Capital in Excess of Stated Value—Common Stock. g. Preferred Stock.arrow_forwardTreasury Stock is a(n) * contra asset account. O retained earnings account. asset account. contra stockholders' equity account.arrow_forward
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