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- Which of the following is False in regards to Share premium account? a. It will be shown under the shareholders equity b. It will be collected when the issue price is more than the par value of shares c. It will be collected when the par value of share is more than the issue price d. It will not be shown under current assets in the balance sheetingWhich of the following items is not presented under the equity section of the statement of financial position? Share options outstanding Share warrants outstanding Share appreciation rights payable Share dividend payable/distributable43 The purchase of treasury share does not affect Group of answer choices the amount of share issued. total assets. the amount of share outstanding. total shareholders’ equity.
- Which of the following does not affect accumulated profits? A. Stock dividendB. Share splitC. Conversion of preference share to ordinary shareD. Treasury share transactionWhich of the following is not a method that may be used to account for treasury shares?a. Cost methodb. Par value methodc. Retained earnings methodd. Constructive retirement methodCProvide differences of Treasury Share with Ordinary Share or Preference Share. Give the accounting treatment for the following cases: Treasury Shares are sold below its cost Treasury Shares are sold above its cost Treasury Share retires (Cost < Par Value ) Treasury Shares retires (Cost > Par Value)
- 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.Which of the following statement is false in regards to Share premium? a. It will be shown under equity section in the balance sheet b. It will be credited at the time of issue of new shares along with premium c. It cannot be distributed as dividend to the shareholders d. It can be distributed as dividend to the shareholdersWhich of the following does not appear under the heading: Capital and reserves in a company balance sheet? A. Ordinary share capital B. Debentures C. Share premium account D. Non- voting shares.
- In computing basic earnings per share (EPS), the amount of preference dividends on noncumulative preference shares should be:A. deducted from net income whether declared or notB. deducted from net income only when declaredC. added to net income only when declaredD. ignored1. What is the accounting for treasury share transactions? a. On repurchase or re-issuance of previously purchased own shares, no gain or loss is recognized. b. Treasury shares are accounted for as financial assets. 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. . 2. If a no-par value share is issued... a. The value of each share is automatically ₱5. b. The corporation is automatically in violation of its state charter. c. There is no legal capital. d. The entire proceeds is considered as legal capital. . 3 Which of the following statements relating to bonds is incorrect? a. None of the choices b. A bond’s face value is the amount the issuer must pay…Contributed capital does not include a. Preference shares b. Share premium on preference shares c. Capital accumulated by retention of earnings d. Ordinary shares