Answered: Which of the following is not a method…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Debt in the capital structure could be treated as if it were common stock in the weighted average cost of capital if debt was: a. participating b. callable c. convertible d. cumulative
Determine if this shall result in recognition of liabilities 6. Declaration of cash dividends on cumulative preference shares a. yes b. no
Determine if this shall result in recognition of liabilities 7. declaration of share dividends on ordinary shares a. yes b. no
Which of the following is not an undistributable reserve? A. Share premium account B. Capital redemption reserve C. Unrealised profits D. Accumulated realised profits
Treasury stock should be reported as: a. A Reduction of stockholders equity in the balance sheet b. A Fixed asset in the balance sheet c. A long term investment in the balance sheet d. A Current asset in the balance sheet
Which of the following is not a long term source of capital? a. Preferred stock b. Common stock c. Current liabilities. d. Long-term debt
How should a "gain" from the sale of treasury stock be reflected when using the cost method of recording treasury stock transactions? Choices; As ordinary earnings shown on the income statement. As an increase in the amount shown for common stock. As treasury shares premium As an extraordinary item shown on the income statement.
Q.6 (a): What is treasury stock? Why is it deducted from stockholders equity? Q.6 (b): How is an unconsolidated subsidiary presented on a balance sheet? And describe donated capital?
14) Which of the following is the least liquid current asset? A) Accruals B) Accounts receivable C) Marketable securities D) Inventory
Where can authoritative IFRS be found related to dilutive securities, stock-based compensation, and earnings per share?
Redeemable preference shares will be shown under: a. Equity in the statement of financial position b. Non current liability in the statement of financial position c. Current asset in the statement of financial position d. Current liability in the statement of financial position
Merchandise sold by Lang Company to its customers last year amounted to $13,720,000; sales returns and allowances were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Lang Company were a. b. C. d. Select one: a. $13,350,000. b. $13,720,000. C. $13,175,000. d. $13,035,000.

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Which of the following is not a method that may be used to account for treasury shares? a. Cost method b. Par value method c. Retained earnings method d. Constructive retirement methodC