All corporate capital stock transactions should ultimately be traced to thea. Minutes of the meetings of the board of directors.b. Cash receipts journal.c. Cash disbursements journal.d. Numbered stock certificates.

All corporate capital stock transactions should ultimately be traced to thea. Minutes of the meetings of the board of directors.b. Cash receipts journal.c. Cash disbursements journal.d. Numbered stock certificates.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 37MCQ

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Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

Question

All corporate capital stock transactions should ultimately be traced to the
a. Minutes of the meetings of the board of directors.
b. Cash receipts journal.
c. Cash disbursements journal.
d. Numbered stock certificates.

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