Survey Of Accounting
5th Edition
ISBN: 9781259631122
Author: Edmonds, Thomas P.
Publisher: Mcgraw-hill Education,
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Chapter 8, Problem 10E
To determine
Record the events of Corporation M in a horizontal statement model.
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Compute for stockholders' equity using the following information:
5 points
Bonds payable
Additional paid in capital on common stock
Donated capital
Treasury stock at cost
Common stock, par P1
Common stock option warrants
Investments in marketable securities
P120,000
20,000
16,000
8,000
200,000
40,000
28,000
6,000
54,000
Additional paid in capital from treasury stock
Retained earnings
Problem #1
Effects of Transactions
Indicate the effects of each of the following transactions on Assets, Liabilities, Share
Capital and Retained Earnings. Use + for increase, - for decrease, and 0 for no effect.
Share
Retained
Assets
Liabilities
Сapital
Earnings
1.
Declaration of cash dividends
2.
Payment of cash dividends
3.
Declaration of share dividends
4.
Issuance of share dividends
5.
A share split
6.
Cash purchase of treasury stock
7.
Sale of tre
stock below cost
Problem #2
Effect of Cash Dividend
Indicate whether the following actions would (+) increase, (-) decrease, or (0) not affect
Bernal Inc.'s total assets, liabilities and shareholders' equity:
Shareholders'
Assets
Liabilities
Equity
1.
Declaring a cash dividend
Paying the cash dividend
declared in no. 1
2.
3.
Declaring a share dividend
4,
Issuing share certificates for the
share dividend declared in no. 3
5.
Authorizing and issuing share
certificates in a share split
Hh1.
Account
Question Content Area Treasury stock that had been purchased for $4,369 last month was reissued this month for $5,223. The entry to journalize the reissuance would include a credit to a. Treasury Stock for $854 b. Paid-In Capital from Sale of Treasury Stock for $4,369 c. Paid-In Capital from Sale of Treasury Stock for $854 d. Paid-In Capital in Excess of Par—Common Stock for $4,369
Chapter 8 Solutions
Survey Of Accounting
Ch. 8 - Prob. 1QCh. 8 - Prob. 2QCh. 8 - Prob. 3QCh. 8 - Prob. 4QCh. 8 - 5. What is the purpose of the articles of...Ch. 8 - 6. What is the function of the stock certificate?Ch. 8 - Prob. 7QCh. 8 - Prob. 8QCh. 8 - 9. What is a limited liability company? Discuss...Ch. 8 - Prob. 10Q
Ch. 8 - 11. What is the difference between contributed...Ch. 8 - Prob. 12QCh. 8 - Prob. 13QCh. 8 - 14. What is the meaning of each of the following...Ch. 8 - 15. What is the difference between cumulative...Ch. 8 - 16. What is no-par stock? How is it recorded in...Ch. 8 - 17. Assume that Best Co. has issued and...Ch. 8 - 18. If Best Co. issued 10,000 shares of 20 par...Ch. 8 - 19. What is the difference between par value stock...Ch. 8 - 20. Why might a company repurchase its own stock?Ch. 8 - 21. What effect does the purchase of treasury...Ch. 8 - 22. Assume that Day Company repurchased 1,000 of...Ch. 8 - 23. What is the importance of the declaration...Ch. 8 - 24. What is the difference between a stock...Ch. 8 - 25. Why would a company choose to distribute a...Ch. 8 - 26. What is the primary reason that a company...Ch. 8 - 27. If Best Co. had 10,000 shares of 20 par value...Ch. 8 - 28. When a company appropriates retained earnings,...Ch. 8 - Prob. 29QCh. 8 - Prob. 30QCh. 8 - Prob. 31QCh. 8 - 32. What are some reasons that a corporation might...Ch. 8 - Prob. 1ECh. 8 - Exercise 8-2 Effect of accounting events on the...Ch. 8 - Prob. 3ECh. 8 - Prob. 4ECh. 8 - Exercise 8-5 Characteristics of capital stock The...Ch. 8 - Exercise 8-6 Effect of issuing common stock on the...Ch. 8 - Exercise 8-7 Recording and reporting common and...Ch. 8 - Prob. 8ECh. 8 - Prob. 9ECh. 8 - Prob. 10ECh. 8 - Prob. 11ECh. 8 - Prob. 12ECh. 8 - Exercise 8-13 Recording and reporting treasury...Ch. 8 - Prob. 14ECh. 8 - Prob. 15ECh. 8 - Prob. 16ECh. 8 - Prob. 17ECh. 8 - Prob. 18ECh. 8 - Prob. 19PCh. 8 - Problem 8-20 Effect of business structure on...Ch. 8 - Prob. 21PCh. 8 - Prob. 22PCh. 8 - Problem 8-23 Recording and reporting stock...Ch. 8 - Prob. 24PCh. 8 - Prob. 25PCh. 8 - Problem 8-26 Treasury stock transactions and...Ch. 8 - Prob. 27PCh. 8 - Prob. 28PCh. 8 - Prob. 1ATCCh. 8 - ATC 8-3 Research Assignment Analyzing Skecherss...Ch. 8 - Prob. 4ATCCh. 8 - ATC 11-7 Ethical Dilemma Bad news versus very bad...
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