The bond interest expense for a period is more than interest paid when bonds are sold atO A. A premiumВ. РагO c. A discountO D. A yieldO E. At cost When the equity feature of a compound instrument is exercised, the related share premium isO A. transferred directly to retained earningsB. transferred to profit or lossc. transferred within equity

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Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 5MC

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2. Appropriation for accumulated profits, if reflected in separate account, shall be shown as a. Component of equity as part of share premium b. Component of total liabilities as current liability c. Component of total assets as noncurrent assets d. Component of equity as part of reserves
Appropriation for accumulated profits, if reflected in separate account, shall be shown as a. Component of equity as part of reserves b. Component of equity as part of share premium c. Component of total assets as noncurrent assets d. Component of total liabilities as current liability
Explain thoroughly why it is the answer.
Comprehensive income includes the following except: A. revenues and gains B. expense and loss C. unrealized gain or loss on trading securities D. dividends received from preference share E. answer not given
For fi nancial assets classifi ed as trading securities, how are unrealized gains and losses refl ected in shareholders’ equity? C . Th ey are a component of accumulated other comprehensive income.
Which is a correct statement below? A. Equity is the residual interest in the liabilities of the entity after deducting all of its assets.B. Subscriptions receivable shall preferably be reflected as a deduction from the related subscribed share capital.C. Share premium is also known as capital stock.D. A deficit is a credit balance in retained earnings.
A major difference between IFRS and GAAP relates to the Revaluation surplus account. Retained earnings account. Share capital account. Share premium account.
Liquidating dividends are credited to a. incomeb. Retained earningsc. Investment accountd. share capital
6. Unrealized gains and losses on investments in trading securities are reported a. as a current assetb. on the income statementc. on the balance sheet as part of stockholders' equityd. as a contra asset
Equity gains are normally ________ to the _________ account. credited; Share Premium debited; Retained Earnings debited; Share Premium credited; Retained Earnings
For fi nancial assets classifi ed as held to maturity, how are unrealized gains and losses refl ected in shareholders’ equity?C . Th ey are a component of accumulated other comprehensive income.

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The bond interest expense for a period is more than interest paid when bonds are sold at O A. A premium O B. Par O c. A discount O D. A yield