"Which of the following statement is true about ""Cumulative Stock Dividends in Arrears™?Select all correct choices, do not select all choices, incorrect choices are penalized."They are reported in the Statement of Retained EarningsThey are reported in the Notes to the Financial Statements onlyAny missed dividends from prior years are reported as Long Term LiabilitiesThey are paid to preferred stockholders before any payment is made to common stockholdersAny missed dividend from the current year are reported as Current Liabilities

Cumulative stock dividend in arrears is dividend payable but not yet paid to preferred stock…

Answered: Which of the following statement is…

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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1. The pre-emptive right of a common stockholder is the right to Choices; share proportionately in corporate assets upon liquidation. share proportionately in any new issues of stock of the same class. receive cash dividends before they are distributed to preferred stockholders. exclude preferred stockholders from voting rights. 2. In computing diluted earnings per share, interest expense on convertible bond payable should be Choices ignored Added back to net income net of tax Added back to net income at gross Deducted from net income net of tax Clear selection
If a corporation fails to declare a dividend on cumulative preferred stock in a given year, the dividends in arrears accumulate from period to period. the dividends in arrears are recorded as liabilities. the common shareholders may still receive dividends in the current year. all of these options apply.
For each of the following statements regarding dividends, indicate whether it is true or false. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)check all that apply Cash and stock dividends reduce retained earnings.unanswered Dividends payable is recorded at the time a cash dividend is declared.unanswered The date of record is the date a cash dividend is paid to stockholders.unanswered Stock dividends help keep the market price of stock affordable.unanswered
Statement I. Appropriation reserve is used to restrict earnings available for dividends Statement II. The issuance of stock dividends increases share capital and total shareholders' equity a. Statement I and II are trueb. Statement I and II are falsec. Statement I is true, Statement II is falsed. Statement I is false, Statement II is true
If a company repurchases its own stock, the journal entry to record this transaction will cause 'Total Stockholders' Equity to increase on the Balance Sheet. True False
If a preferred stock is of the cumulative type, a. dividends cannot be passed if they are earned. b. unpaid dividends of one period must be carried forward and paid in subsequent periods before anything can be paid to common stockholders. c. dividends must be paid, and if not a liability is created. d.dividends must be paid on an equal basis with common stock, so long as earnings permit.
Financial Statements from the End-of-Period Spreadsheet Triton Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended April 30, 20Y3: During the year ended April 30, 20Y3, common stock of $5,000 vwas issued. Triton Consulting End-of-Period Spreadsheet For the Year Ended April 30, 20Y3 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 21,500 21,500 Accounts Receivable 51,150 51,150 Supplies 2,400 1,650 750 Office Equipment 32,000 32,000 Accumulated Depreciation 4,500 900 5,400 Accounts Payable 3,350 3,350 Salaries Payable 2,000 2,000 Common Stock 20,000 20,000 Retained Earnings 52,200 52,200 Dividends 10,000 10,000 Fees Earned 279,000 279,000 Salary Expense 240,000 2,000 242,000 Supplies Expense 1,650 1,650 Depreciation Expense 900 900 Miscellaneous Expense 2,000 2,000 359,050 359,050 4,550 4,550 361,950 361,950
Prepare a journal entry that summarizes the declaration and distribution of the stock split if it is not to be effected in the form of a stock dividend. What is the par per share after the split?
The journal entry to record a stock dividend causes the Common Stock account to increase. True False
Current year stock dividends and splits require retroactive restatement of EPS for all prior years presented in comparative financial statements. True or False True False Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Please answer this one
Adjusting for Negative Equity Phillip Morris reported the following information in its 2018 Form 10-K. $ millions Stockholders' (Deficit) Equity Common stock, no par value (2,109,316,331 shares issued in 2018 and 2017) Additional paid-in capital Earnings reinvested in the business Accumulated other comprehensive losses Total stockholders' equity before treasury stock Less: cost of repurchased stock (554,736,610 and 556,098,569 shares in 2018 and 2017, respectively) Total PMI stockholders' deficit Noncontrolling interests Total stockholders' deficit Net earnings Net earnings attributable to noncontrolling interests Net earnings attributable to PMI $ Numerator $ Dec. 31, 2018 Dec. 31, 2017 $0 2,715 43,420 (14,155) 31,980 a. Compute ROE for 2018 using the equity numbers as reported. Note: 1. Select the appropriate numerator and denominator used to compute ROE from the drop-down menu options. 2. Enter the numerator and denominator amounts to compute ROE. Denominator ROE ◆ 49,421 (17,441)…

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