9. Preference shares has preference over ordinary shares relative to a) Dividends and voting rights b) Dividends and assets at liquidation c) Voting rights and assets at liquidation d) Dividends and maturity date
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- 10. These are issued shares, which are in the hands of the shareholders a) Issued Share Capital b) Outstanding Share Capital c) Share Capital d) Authorized ShareSubject: Financial Accounting and Reporting Required: Determine the followinga. Issue price of preference sharesb. Ordinary shares issuedc. Ordinary shares outstandingd. Issue price of ordinary sharese. Legal capital of the corporationf. Contributed capital of the corporationg. Total shareholders’ equityh. Cost per treasury shareQuestion 1What is the accounting treatment of the direct issue costs of shares of stocks?O Debit to the related share premiuin during organization stage and operating stageDebit to organizational cost during the organization stageDebit to revenue expenditure during the operating stageDebit to accumulated expenses during the operating stageDQuestion 2What is the total number of shares that a corporation may issue under its charter?O Authorized sharesIssued shareso Unissued sharesO Treasury sharesEQuestion 3In case shares are issued for outstanding liabilities, what is the measure of recording share capital and share premium?O Par value of the shares issuedAmount of liabilities set-offFair value of the shares issuedBook value of the shares issued
- 1. The issuer of an ordinary share dividend to ordinary shareholders should transfer from retained earnings to contributed capital an amount equal to the a. fair value of the shares issued. b. par or stated value of the shares issued. c. book value of the shares issued. d. minimum legal requirements. 2. Statement 1: Treasury shares are a company’s own shares that have been reacquired and retired. Statement 2: The cost method records all transactions in treasury shares at their cost and reports the treasury shares as a deduction from ordinary shares. a. Only statement 1 is correct b. Only statement 2 is correct c. Both statements are correct d. Both statements are incorrect. 3. The declaration and issuance of a share dividend a. increases ordinary shares outstanding and increases total equity. b. increases retained earnings and increases total equity. c. decreases retained earnings but does not change total equity. d. may increase share premium but does not change total…10. When shareholders may elect receive cash in lieu of share dividend, the amount to be charged to retained earnings is equal to the * a. Optional cash dividend b. Fair value of the shares c. Par value of the shares d. Book value of the sharesWho are entitled to dividends? a. Issued and subscribed shares b. Outstanding and subscribed shares c. Issued shares d. Issued and Outstanding shares
- Which of the following is entitled to dividends? a. Total shares issued b. Total shares issued, net of treasury shares c. Total outstanding liability d. Total authorized sharesIf the preference shares are cumulative and fully participating, how much is the dividends to be allocated to ordinary shareholders? 2.If the preference shares of OTSO CORP are cumulative and participating only up to 15%, how much is the dividends to be allocated to ordinary shareholders?1. Under Application Guidance 36 of IAS 32, an entity’s own equity instruments also known as treasury shares shall be presented as Group of answer choices a. Financial asset b. Financial liability c. Deduction in the shareholder’s equity at par value or stated value d. Deduction in the shareholder’s equity at cost
- From page 10-1 of the VLN, what is the difference between issued shares and outstanding shares? A. Authorized shares. B. Unissued share. C. Treasury shares. D. There is no difference between issued shares and outstanding shares.Match each of the following terms with the correct definition: a. additional paid-in capitalb. issued and outstandingc. retained earningsd. treasury stocke. authorized share capitalf. par value Correct Definitions:A. The price at which each share is recorded in the company’s booksB. Held by investorsC. Cumulative amount of profits that have been plowed backD. The difference between the amount of cash raised by an equity issue and the par value of the issueE. The maximum number of shares that can be issued without shareholder approvalF. The amount that the company has spent buying back stock that it has not subsequently resoldDetermine if this shall result in recognition of liabilities 7. declaration of share dividends on ordinary shares a. yes b. no