Financial Accounting
3rd Edition
ISBN: 9780133791129
Author: Jane L. Reimers
Publisher: Pearson Higher Ed
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Textbook Question
Chapter 8, Problem 7MCQ
The number of shares of stock designated as issued on the year-end
- a. were issued during the year.
- b. have been issued during the firm’s life.
- c. are authorized to be issued.
- d. have been repurchased during the year.
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Authorized shares are the
a) Number of shares that have been distributed to shareholders
b) Total number of shares that can be issued by the company at any time
c) Number of shares that are owned by shareholders at the balance sheet date
d) Number of shares the company has repurchased
can you please journalize the transactions and indicate the amount to be reported shares and for common shares at the end of the year
Discuss the accounting treatment, if any, that should be given to each of the following items in computing earnings per share of ordinary shares for financial statement reporting.
d. the declaration of current dividends on cumulative preference shares.
e. the acquisition of some of the corporation's outstanding ordinary shares during the current fiscal year. the shares were classified as treasury shares.
f. a 2-for-1 share split of ordinary shres during the current fiscal year.
g. a provision created out of retained earnings for a contingent liability from a possible lawsuit.
Chapter 8 Solutions
Financial Accounting
Ch. 8 - Prob. 1YTCh. 8 - Prob. 2YTCh. 8 - Prob. 3YTCh. 8 - Prob. 4YTCh. 8 - 1. Compare a stock split and a stock dividend. 2....Ch. 8 - Prob. 6YTCh. 8 - Prob. 1QCh. 8 - Prob. 2QCh. 8 - Prob. 3QCh. 8 - Prob. 4Q
Ch. 8 - Prob. 5QCh. 8 - Prob. 6QCh. 8 - Prob. 7QCh. 8 - Prob. 8QCh. 8 - Prob. 9QCh. 8 - Prob. 10QCh. 8 - Prob. 11QCh. 8 - Would treasury stock be considered authorized,...Ch. 8 - Prob. 13QCh. 8 - Prob. 14QCh. 8 - Prob. 15QCh. 8 - What are the two sections of the shareholders...Ch. 8 - Prob. 17QCh. 8 - Prob. 18QCh. 8 - Prob. 19QCh. 8 - Prob. 1MCQCh. 8 - Prob. 2MCQCh. 8 - Treasury stock is a. a companys own stock that it...Ch. 8 - Prob. 4MCQCh. 8 - Prob. 5MCQCh. 8 - Prob. 6MCQCh. 8 - The number of shares of stock designated as issued...Ch. 8 - Prob. 8MCQCh. 8 - Prob. 9MCQCh. 8 - Prob. 10MCQCh. 8 - Prob. 1SEACh. 8 - Prob. 2SEACh. 8 - Prob. 3SEACh. 8 - Prob. 4SEACh. 8 - Prob. 5SEACh. 8 - Prob. 6SEACh. 8 - Prob. 7SEACh. 8 - Prob. 8SEACh. 8 - Prob. 9SEACh. 8 - Calculate retained earnings balance. (LO 5)....Ch. 8 - Prob. 11SEACh. 8 - Prob. 12SEBCh. 8 - Prob. 13SEBCh. 8 - Prob. 14SEBCh. 8 - Prob. 15SEBCh. 8 - Prob. 16SEBCh. 8 - Prob. 17SEBCh. 8 - Prob. 18SEBCh. 8 - Prob. 19SEBCh. 8 - Prob. 20SEBCh. 8 - Prob. 21SEBCh. 8 - Prob. 22SEBCh. 8 - Prob. 23EACh. 8 - Prob. 24EACh. 8 - Prob. 25EACh. 8 - Prob. 26EACh. 8 - Prob. 27EACh. 8 - Prob. 28EACh. 8 - Prob. 29EACh. 8 - Prob. 30EACh. 8 - Prob. 31EACh. 8 - Analyze equity accounts. (LO 1, 2, 3, 5). The...Ch. 8 - Prob. 33EACh. 8 - Prob. 34EACh. 8 - Prob. 35EACh. 8 - Prob. 36EACh. 8 - Prob. 37EACh. 8 - Prob. 38EACh. 8 - Prob. 39EBCh. 8 - Prob. 40EBCh. 8 - Prob. 41EBCh. 8 - Prob. 42EBCh. 8 - Prob. 43EBCh. 8 - Prob. 44EBCh. 8 - Prob. 45EBCh. 8 - Prob. 46EBCh. 8 - Prob. 47EBCh. 8 - Prob. 48EBCh. 8 - Prob. 49EBCh. 8 - Prob. 50EBCh. 8 - Prob. 51EBCh. 8 - Prob. 52EBCh. 8 - Prob. 53EBCh. 8 - Prob. 54EBCh. 8 - Prob. 55PACh. 8 - Prob. 56PACh. 8 - Prob. 57PACh. 8 - Prob. 58PACh. 8 - Prob. 59PACh. 8 - Prob. 60PACh. 8 - Prob. 61PACh. 8 - Prob. 62PACh. 8 - Prob. 63PBCh. 8 - Prob. 64PBCh. 8 - Prob. 65PBCh. 8 - Prob. 66PBCh. 8 - Prob. 67PBCh. 8 - Prob. 68PBCh. 8 - Prob. 69PBCh. 8 - Prob. 70PBCh. 8 - Prob. 1FSACh. 8 - Prob. 2FSACh. 8 - Prob. 3FSACh. 8 - Prob. 1CTPCh. 8 - Prob. 2CTPCh. 8 - Prob. 1IECh. 8 - Prob. 2IECh. 8 - Prob. 3IECh. 8 - Prob. 4IECh. 8 - Prob. 5IE
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- Authorized stock represents the: number of shares that are currently held by stockholders. number of shares that have been sold. number of shares that have been repurchased by the corporation. maximum number of shares that can be issued.arrow_forwardThe par value per share of common stock represents the a. minimum selling price of the stock established by the articles of incorporation O b. amount of dividend per share to be received each year O C. minimum amount the stockholder will receive when the corporation is liquidated O d. dollar amount assigned to each share Previous paoearrow_forwardWhen are ordinary shares issued as part of a business combination included in the earnings per share (EPS) calculation? A. From the midpoint of the accounting yearB. From the end of the accounting periodC. The beginning of the accounting periodD. From the date of acquisitionarrow_forward
- 1. What amount should be recognized as share premium at year-end? 2. What amount should be reported as share capital at year-end? 3. What is the total shareholders’ equity at year-end? 4. How many shares are outstanding at year-end?arrow_forward3. Authorized shares represent the a.number of shares that have been sold. b.number of shares that are currently held by shareholders. c.number of shares that have been repurchased by the corporation. d.maximum number of shares that can be issued.arrow_forwardAt the date of the financial statements, ordinary shares issued would exceed ordinary shares outstanding as a result of the a. Payment in full of subscribed shares b. Purchase of treasury shares c. Declaration of stock split d. Declaration of stock dividendarrow_forward
- Subject: Financial Accounting and Reporting Required:a. Determine the number of shares issued and outstanding on: Jan1 Mar31 Jun30 Sep30 b. Prepare the journal entries for the above transactionsarrow_forwardAssuming a company has net income for the year, the end of year dollar balance in the "Total Stockholders' Equity" column of the statement of stockholders' equity should exactly match which of the following: Select one: a. The total cash balance on the balance sheet b. The total paid-in capital balance on the balance sheet c. The total liabilities balance on the balance sheet d. the total stockholders' equity balance on the balance sheet e. The total assets balance on the balance sheet f. The net income amount on the income statementarrow_forwardA company has cumulative preferred stock. When computing earnings per share, the current year's dividends not declared on the preferred stock should be: A. Deducted from earnings for the year. B. Deducted, net of tax effect, from earnings for the year. C. Added to earnings for the year. D. Ignored.arrow_forward
- a. What is the amount of total shareholders' equity?b. What is the balance of retained earnings at year-end?arrow_forwardWhen are ordinary shares issued as part of a business combinationincluded in the EPS calculation? A. From the midpoint of the accounting yearB. From the end of the accounting periodC. The beginning of the accounting periodD. From the date of acquisitionarrow_forwardAs of the date of the financial statements, the number of common shares issued will exceed the number of shares outstanding as a result of the: o. purchase of treasury stocks. b. declaration of a large stock dividend. c. declaration of a "Stock split" or fractionation of shares. d. immediate purchase and withdrawal of common shares.arrow_forward
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Stockholders Equity: How to Calculate?; Author: Accounting University;https://www.youtube.com/watch?v=2jZk1T5GIlw;License: Standard Youtube License