Contingent liabilities appear in the 1. Balance sheet 2. Chairman's report 3. Share holders notice 4. Notes on account to balance sheet
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- The date on which liability for dividends must be recorded. * a. Date of payment b. Date of record c. Declaration date d. Date of issuance5. How is the treasury share account presented in the Statement of Financial Position? a. deducted from accumulated profits b. deducted from shareholders’ equity c. part of reserves d. current assetThe date on which liability for dividends must be recorded. a. Date of record b.Date of issuance c. Declaration date d. Date of payment
- Question 3 Explain the following accounting terms used in the preparation and presentation of published financial statements: Reserves Earnings per share Debenture interest Share premiumWe credit Dividends Payable on: a. Payment date. b. Record date.c. Declaration date. d. Never.Which one of the following journal entries is correct when payment for share issue expenses are made? Select one: a. Debit: Share issue expense; Credit: Bank b. Debit: Trade payables; Credit: Bank c. Debit: Bank; Credit: Trade payables d. Debit: Bank; Credit: Share- issue expense
- In column A, identify the account to which element it belongs whether Current Asset (CA), Noncurrent Assets (NCA), Current Liabilities (CL), Noncurrent liabilities (NCL) or Shareholders’ equity (SHE). In column B, indicate the line item to which the account belongs. Column A Column B1. Share Capital2. Accounts Payable 3. Plant Expansion Fund4. Trading Securities 5. Employees income tax payable6. Goodwill 7. Raw Materials8. Share Premium 9. Advances from customers 10. Serial bonds not collectible currently 11. Investment in Bonds 12. Notes Payable 13. Prepaid Insurance 14. Income Tax Payable 15. LandQuestion Content Area Which of the following entries journalizes the issuance of common stock? a.debit Fees Earned; credit Common Stock b.debit Common Stock; credit Accounts Receivable c.debit Cash; credit Common Stock d.debit Dividends; credit CashOrganize the following under Income Statement, Share Holder's Equity, and Balance Sheet. a. Interest Receivable b. Interest Revenue c. Accounts Payable d. Accumulated Depreciation e. Wage Payable
- Question: 63 Dividends appear on which financial statement? a) Balance Sheet b) Income Statement c) Statement of Retained Earnings d) Statement of Cash FlowssThe journal entry to record the amount receivable when a call is made by the company is: Select one: a. DR Allotment CR Share capital b. DR Cash Trust CR Call c. DR Call CR Share capital d. DR Share capital CR Call
