2. All of the following will affect the retained earnings account, except a. Declaration of 10% bonus issue b. Quasi-reorganization thru recapitalization c. Adjustment due to overstatement of depreciation expense from previous reporting period and was known only this current year d. Issuance of treasury shares at P 29 per share when its cost is P 25 per share
2. All of the following will affect the retained earnings account, except a. Declaration of 10% bonus issue b. Quasi-reorganization thru recapitalization c. Adjustment due to overstatement of depreciation expense from previous reporting period and was known only this current year d. Issuance of treasury shares at P 29 per share when its cost is P 25 per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
2. All of the following will affect the
a. Declaration of 10% bonus issue
b. Quasi-reorganization thru recapitalization
c. Adjustment due to overstatement of depreciation expense from previous reporting period and was known only this current year
d. Issuance of treasury shares at P 29 per share when its cost is P 25 per share
3. Which of the following changes the total shareholder's equity balance?
a. Declaration of large bonus issue
b. Declaration of cash dividends
c. Issuance of share certificates due to subscription receivable fully paid
d. Issuance of share rights
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education