ACC2363_Assignment 8_Q #11 Purchase of Company's Own Shares

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Accounting type Question: Bonus shares cannot be issued out of: A. Profit and Loss a/c B. Capital Redemption reserve C. General reserve D. Dividend equalisation fund

Select all that apply Which of the following items are classified as noncash investing and financing activities? (Check all that apply.) Conversion of preferred stock to common stock Lease of assets in a long-term lease transaction Repayment of a note with cash Retirement of debt by issuing stock

Which of the following is NOT correct regarding trading securities *   a. Unrealized holding gains or losses are reported in profit or loss b. Share in profit of the investee increases carrying value of the investment c. These are classified as current assets. d. Cash dividends shall be recognized as dividend income

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The Share Premium-Ordinary account represents the amount of legal capital. is reported as part of equity on the statement of financial position. is credited when a no-par share does not have a stated value. normally has a debit balance. OOO

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A company’s publicly listed shares:   a. Can be traded on any share market around the world   b. Represent an ownership claim on the company’s real assets (net of liabilities)   c. Are guaranteed to provide a dividend cash-flow   d. All of the above   e. None of the above

1. Identify the most acceptable value of share capital in exchange of non-cash asset.  options •Fair market value of share issued •Fair market value of non-cash asset received •Par value of share capital issued. •Carrying value of the non-cash asset received. 2. Which of the following is included in the equity section of a corporate business?  •Investment in equity shares •Treasury shares •Subscription Receivable – current •Unearned revenue

S1: The conversion of preference share capital into ordinary share capital increases the total shareholders' equity. S2: The Donated Capital account is shown as part of share premium of the reserves section of the shareholders' equity. a. Only S1 is correct   b. Only S2 is correct   c. Both statements are correct   d. Both statements are incorrect.

Subscriptions receivable from sale of shares which are not collectible currently shall be presented asRequired to answer. Single choice. a. current assets b. deduction from the related subscribed share capital in the shareholder's equity section c. long-term investment d. other asset.

A debenture is ABU DA equity capital of the company another name for share capital a loan convertible into shares in the future a loan usually secured on the business' assets