Inted acct 2
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| show | consists of par value of shares and the amount in excess of this value (additional paid in capital) added together.
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| Preemptive right | show 🗑
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| The residual interest in a corporation belongs to the | show 🗑
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| Total Stockholders equity is made up of | show 🗑
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| Treasury Common Stock (at cost) | show 🗑
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| show | Common stockholders of a business. Bear the ultimate risks and uncertainties and receive the benefits of enterprise ownership
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| show | a claim against a portion of the total assets of the company
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| The issuance of no-par stock has no effect on | show 🗑
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| Treasury Stock ( Treasury Shares) | show 🗑
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| Under the cost method when treasury stock is sold for more than its cost, the excess is credited to | show 🗑
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| show | Treasury stock for the purchase price
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| Which of the following best describes a possible result of treasury stock transactions by a corporation? | show 🗑
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| show | Cumulative preferred stock
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| show | applicable to the preferred stock before paying any dividends on the common stock.
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| show | Redeemable
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| The payment of a dividend does not have to be in the | show 🗑
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| show | Outstanding
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| The statement of changes in equity has columns for each of the following | show 🗑
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| show | different than U.S. GAAP in that it allows the increase in valuation
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| show | a charge for the excess to paid-in capital, depending on the original transaction related to the issuance of the stock.
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| The Revaluation Surplus of IFRS is | show 🗑
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| At what amount should retained earnings be capitalized for the additional shares issued? | show 🗑
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| The statement of stockholders' equity is frequently presented in the following basic format. | show 🗑
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| show | true
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| show | common shares outstanding.
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| Which of the following country systems of finance have relied more heavily on debt financing, interlocking stock ownership, banker/directors, and worker/shareholder rights? | show 🗑
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| 3 special characteristics of the corporate fore that effect accounting | show 🗑
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| In the absence of restrictive provisions each share carries the following rights | show 🗑
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| In the absence of restrictive provisions each share carries the following rights | show 🗑
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| In the absence of restrictive provisions each share carries the following rights | show 🗑
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| show | 4. To share proportionately in any new issues of stock of the same class - call the preemptive right.
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| show | right protects an existing stockholder from involuntary dilution of ownership interest.
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| Preferred stock always sacrifices some of the | show 🗑
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| Examples of preferred stock sacrifice to obtain right to rec assured dividend usually at a stated rate before common stockholders | show 🗑
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| show | 1. Capital stock, 2. Additional paid in capital. 3. Retained earnings.
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| show | represent earned capital of the company. Profits added from year to year,
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| Two primary sources of Equity | show 🗑
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| Disadvantage of no par stocks is that some states levy a high tax on these issues and | show 🗑
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| show | Avoids contingent liability and avoids confusion over recording par value versus fair market value
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| show | Proportional method and Incremental method
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| Stocks issued in Non cash Transactions should record stock for services or property other than cash at the | show 🗑
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| Characteristics of Preferred Stock | show 🗑
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| show | underwriting costs, accounting & legal fees, printing costs and taxes
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| show | should be reported as a reduction of the amounts paid in (Paid-in Capital in Excess of Par).
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| Corporations may attach whatever preferences or restrictions | show 🗑
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| Features of Preferred Stock | show 🗑
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| show | Provide tax-efficient distributions of excess cash to stockholders
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| show | Increase earnings per share and return on equity
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| show | Provide stock for employee stock compensation contracts or to meet potential merger needs.
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| show | Thwart takeover attempts or to reduce the number of stockholders
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| show | make a market in the stock
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| show | Stock re- purchased and held to sell again and is not considered an asset. It is essential the same as unissued capital stock.
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| To re-purchase stock (treasury) two methods are used | show 🗑
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| show | results in debiting the treasury Stock account for the re-acquisition cost and in reporting this account as a deduction from the total paid-in capital & retained earnings on the balance sheet.
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| Par (stated) value method | show 🗑
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| Under incremental method the market value of the securities is used as a basis for those classes that are known | show 🗑
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| A corp cannot show a gain or loss dealing with its own stock | show 🗑
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| If treasury stock is reissued at a price in excess of the acquisition cost | show 🗑
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| Preferred dividends in arrears are not liabilities till declared by board of directors & | show 🗑
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| show | a feature of preferred stock enabling the stockholder to share ratably with common stockholders in any dividends beyond the rate specified on the preferred stock.
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| property dividend | show 🗑
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| show | dividend not based on retained earnings implying that stockholder share are receiving a return of their investment, rather than profits.
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| show | while stock dividend does not affect par or stated value.
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| From accounting standpoint no entry is recorded for a stock split | show 🗑
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| show | dividends/ by average common stockholders equity.
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| By law capital is considered the portion of stockholders equity | show 🗑
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