True or False : Passed dividends on cumulative preferred stock are recorded as a liability.
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(18) True or False :
Passed dividends on cumulative
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- What amount of the proceeds from the issuance of no-par, no-stated-value stock is recorded in the Capital Stock account?Which of the following is true of a stock dividend? A. It is a liability. B. The decision to issue a stock dividend resides with shareholders. C. It does not affect total equity but transfers amounts between equity components. D. It creates a cash reserve for shareholders.Which of the following is not a characteristic that sets preferred stock apart from common stock? A. voting rights B. dividend payments C. transferability D. ownership
- 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 equityWhich of the following is a current liability? a. Preferred dividends in arrears. b. A dividend payable in the form of additional shares of stock. c. A cash dividend payable to preferred stockholders. d. All of these answers are correct.Dividends in arrears pertain to non-cumulative preferred stock. True or False
- 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 shares1. 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 decreases total equity? A. A stock split B. Recording Revenue C. The purchase of Treasury Stock D. Issuance of Convertible preferred stock
- [18] True or False (Provide explanation). Preferred stock dividends are calculated as a percentage of common stock dividends, although the preferred stock dividend must be paid first.Which of the following does not represent a pair of GAAP/IFRS-comparable terms? a. Additional paid-in capital/Share premium. b. Treasury stock/Repurchase reserve. c. Common stock/Share capital—ordinary. d. Preferred stock/Preference shares.5. Assuming that the share dividends declared in item f was 20%, what is the amount debited to retained earnings as a result of the declaration of stock dividends?
