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Showing posts with label Accounting Chapter 15. Show all posts
Showing posts with label Accounting Chapter 15. Show all posts
Friday, March 1, 2019

A mining company declared a liquidating dividend. The journal entry to record the declaration must include a debit to

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A mining company declared a liquidating dividend. The journal entry to record the declaration must include a debit to a. Retained Earnings. ...

If management wishes to "capitalize" part of the earnings, it may issue a

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If management wishes to "capitalize" part of the earnings, it may issue a a. cash dividend. b. stock dividend. c. property dividen...

Which dividends do not reduce stockholders' equity?

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Which dividends do not reduce stockholders' equity? a. Cash dividends b. Stock dividends c. Property dividends d. Liquidating dividends ...

The declaration and issuance of a stock dividend larger than 25% of the shares previously outstanding

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The declaration and issuance of a stock dividend larger than 25% of the shares previously outstanding a. increases common stock outstanding ...

Which of the following statements about property dividends is not true?

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Which of the following statements about property dividends is not true? a. A property dividend is usually in the form of securities of other...

Houser Corporation owns 4,000,000 shares of stock in Baha Corporation. On December 31, 2010, Houser distributed these shares of stock as a dividend to its stockholders. This is an example of a

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Houser Corporation owns 4,000,000 shares of stock in Baha Corporation. On December 31, 2010, Houser distributed these shares of stock as a d...

A dividend which is a return to stockholders of a portion of their original investments is a

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A dividend which is a return to stockholders of a portion of their original investments is a a. liquidating dividend. b. property dividend. ...

According to the FASB, redeemable preferred stock should be

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According to the FASB, redeemable preferred stock should be a. included with common stock. b. included as a liability. c. excluded from the ...

Cumulative preferred dividends in arrears should be shown in a corporation's balance sheet as

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Cumulative preferred dividends in arrears should be shown in a corporation's balance sheet as a. an increase in current liabilities. b. ...

At the date of the financial statements, common stock shares issued would exceed common stock shares outstanding as a result of the

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At the date of the financial statements, common stock shares issued would exceed common stock shares outstanding as a result of the a. decla...

An entry is not made on the

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An entry is not made on the a. date of declaration. b. date of record. c. date of payment. d. An entry is made on all of these dates. Answer...

Cash dividends are paid on the basis of the number of shares

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Cash dividends are paid on the basis of the number of shares a. authorized. b. issued. c. outstanding. d. outstanding less the number of tre...

Which of the following best describes a possible result of treasury stock transactions by a corporation?

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Which of the following best describes a possible result of treasury stock transactions by a corporation? a. May increase but not decrease re...

Which of the following features of preferred stock makes the security more like debt than an equity instrument?

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Which of the following features of preferred stock makes the security more like debt than an equity instrument? a. Participating b. Voting c...

The cumulative feature of preferred stock

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The cumulative feature of preferred stock a. limits the amount of cumulative dividends to the par value of the preferred stock. b. requires ...

Porter Corp. purchased its own par value stock on January 1, 2010 for $20,000 and debited the treasury stock account for the purchase price. The stock was subsequently sold for $12,000. The $8,000 difference between the cost and sales price should be recorded as a deduction from

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Porter Corp. purchased its own par value stock on January 1, 2010 for $20,000 and debited the treasury stock account for the purchase price....

How should a "gain" from the sale of treasury stock be reflected when using the cost method of recording treasury stock transactions?

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How should a "gain" from the sale of treasury stock be reflected when using the cost method of recording treasury stock transactio...

In January 2010, Finley Corporation, a newly formed company, issued 10,000 shares of its $10 par common stock for $15 per share. On July 1, 2010, Finley Corporation reacquired 1,000 shares of its outstanding stock for $12 per share. The acquisition of these treasury shares

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In January 2010, Finley Corporation, a newly formed company, issued 10,000 shares of its $10 par common stock for $15 per share. On July 1, ...

Treasury shares are

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Treasury shares are a. shares held as an investment by the treasurer of the corporation. b. shares held as an investment of the corporation....

When treasury stock is purchased for more than the par value of the stock and the cost method is used to account for treasury stock, what account(s) should be debited?

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When treasury stock is purchased for more than the par value of the stock and the cost method is used to account for treasury stock, what ac...