Answered: Determine if this shall result in…

Determine if this shall result in recognition of liabilities 7. declaration of share dividends on ordinary shares a. yes b. no

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 26GI: What additional disclosures about preferred and common shares does the FASB require?

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Determine if this shall result in recognition of liabilities

7. declaration of share dividends on ordinary shares

a. yes

b. no

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Which of the following are not part of common equity? a. preferred stock c. retained earnings b. common stock d. treasury stock
Treasury stock is listed as a(n) __________ on the balance sheet. (a) current liability (b) current asset (c) deduction from stockholders equity (d) addition to stockholders equity
What additional disclosures about preferred and common shares does the FASB require?
Mandatorily redeemable preferred stock (preference shares) is reported among liabilities and their dividends are reported in the income statement as interest expense using a. U.S. GAAP. b. IFRS. c. Both U.S. GAAP and IFRS. d. Neither U.S. GAAP nor IFRS.
Determine if this shall result in recognition of liabilities 8.Declaration of property dividends on ordinary shares. a. yes b. no
Which of the following affects the total Shareholders’ Equity? a. Declaration of a scrip dividend b. Declaration of share split c. Appropriation of retained earnings d. Retirement of treasury shares
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1. What is the accounting for treasury share transactions? a. Treasury shares are accounted for as financial assets. b. On repurchase or re-issuance of previously purchased own shares, no gain or loss is recognized. c. On re-issuance of treasury shares, a gain or loss is recognized equal to the difference between the previous repurchase price and the re-issuance price. d. On repurchase of treasury shares, a gain or loss is recognized equal to the difference between the amount at which the shares were issued and the repurchase price for the shares.
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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
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