When shares are forfeited, the share capital account is debited with the A) Nominal value of shares B) Paid up value of shares C) called up value of shares D) Maximum value of shares
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- When a company buys shares of its own stock to be held in treasury, it records a reduction in: B . both assets and shareholders’ equity.1. The issuer of an ordinary share dividend to ordinary shareholders should transfer from retained earnings to contributed capital an amount equal to the a. fair value of the shares issued. b. par or stated value of the shares issued. c. book value of the shares issued. d. minimum legal requirements. 2. Statement 1: Treasury shares are a company’s own shares that have been reacquired and retired. Statement 2: The cost method records all transactions in treasury shares at their cost and reports the treasury shares as a deduction from ordinary shares. a. Only statement 1 is correct b. Only statement 2 is correct c. Both statements are correct d. Both statements are incorrect. 3. The declaration and issuance of a share dividend a. increases ordinary shares outstanding and increases total equity. b. increases retained earnings and increases total equity. c. decreases retained earnings but does not change total equity. d. may increase share premium but does not change total…Under IFRS, a purchase by a company of its own shares results in: a. an increase in treasury shares. b. a decrease in assets. c. a decrease in equity. d. All of the above.
- Cash dividends are paid on the basis of the number of shares? instructions: what is the correct answer a. authorized b. issued. c. outstanding d. outstanding less the number of treasury shares1. What is the accounting for treasury share transactions? a. On repurchase or re-issuance of previously purchased own shares, no gain or loss is recognized. b. Treasury shares are accounted for as financial assets. c. On re-issuance of treasury shares, a gain or loss is recognized equal to the difference between the previous repurchase price and the re-issuance price. d. On repurchase of treasury shares, a gain or loss is recognized equal to the difference between the amount at which the shares were issued and the repurchase price for the shares. . 2. If a no-par value share is issued... a. The value of each share is automatically ₱5. b. The corporation is automatically in violation of its state charter. c. There is no legal capital. d. The entire proceeds is considered as legal capital. . 3 Which of the following statements relating to bonds is incorrect? a. None of the choices b. A bond’s face value is the amount the issuer must pay…When treasury shares are reissued as dividends, what amount shall becharged to accumulated profits? A. Cost of the treasury sharesB. Par value of the treasury sharesC. Fair value of the treasury shares on the date of declarationD. Fair value of the treasury shares on the date of issuance
- When a company buys shares of its own stock to be held in treasury, it records a reduction in: C . assets and an increase in shareholders’ equity.The Share Premium in excess of par account normally arises in the accounting records when? the fair value of the shares rises above par value. the number of shares issued equals the number authorized. share capital is issued at an amount greater than par value. the stated value of share capital is greater than the par value.Share capitalization referes to the issue of shares to new shareholders in lieu of dividend. OA. True OB. False
- Which of the following affects the total Shareholders’ Equity? a. Declaration of a scrip dividend b. Declaration of share split c. Appropriation of retained earnings d. Retirement of treasury sharesBy default, issuance costs of shares is debited to Share Capital Retained Earnings Issuance Cost Share PremiumWhich of the following affects the total Shareholders’ Equity? Appropriation of retained earnings Declaration of a scrip dividend Declaration of share split Retirement of treasury shares
