30. The par value of ordinaryshare capital representsa. the liquidation value of the sharecapital.b. the book value of the sharecapital.c. the legal nominal value assignedto the share capital.d. the amount received by thecorporation when the share wasoriginally issued.

>The corporations get their finance mainly from the issuance of share capital.>The share…

Answered: 30. The par value of ordinary share…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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Describe the accounting and reporting for reacquisition of shares.
TRUE OR FALSE Outstanding shares are the number of shares sold or conveyed to owners.
Which of the following is a current liability? A dividend payable in the form of additional ordinary shares. Dividend in arrears on preference shares. A cash dividend payable to preference shareholders. All of these.
Record the issuance of shares when sold for cash and for noncash consideration
Which of the following is a reserve of a limited liability company? A. DebenturesB. Ordinary share capitalC. Retained earningsD. Ordinary stock
Par value of a stock refers to the ________. Dividend to be paid by the corporation Issue price of a stock Value assigned by the incorporation documents Maximum selling price of a stock
Treasury shares are recorded at * acquisition cost fair value at balance sheet date fair value at date of acquisition fair value at original issue
Which 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 methodC
Which of the following is issued to shareholders to acquired unissued or treasury shares within a specified tie period at a specified price?a. Share optionb. Share warrantc. Stock dividendd. Share subscription
Treasury stock should be reported in the financial statements of a corporation as a(n) Oa. investment Ob. liability Oc. current asset Od. deduction from stockholders' equity
Property or services received in exchange for capital stock should be recorded at the par or stated value of the shares issued. True or False
Repurchased shares which a company has bought back from stockholders with the intention of reissuing at a later date are known as: Select one: a. capital shares. b. treasury shares. c. inventory shares. d. unissued shares. e. preferred shares.

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30. The par value of ordinary share capital represents a. the liquidation value of the share capital. b. the book value of the share capital. c. the legal nominal value assigned to the share capital. d. the amount received by the corporation when the share was originally issued.