
1.
Identify the number of
2.
Identify the number of preferred shares were authorized and issues at the end of 2017 and identify the par value per share.
3.
Identify the term the company used for its additional paid in capital and state the amount at the end of 2017.
4.
Identify the number of
5.
Identify the number of shares that company reacquire in 2017 and state the average cost per share.
6.
Describe the Company’s 2014 equity plan. Identify the weighted average fair value of the share options the company granted in 2017. State the stock based compensation of company for 2017 and where it was reported. Identify the number of share options were granted and exercised in 2017, and identify the number of outstanding options at the end of 2017. State the weighted average price per share were the options exercised in 2017.

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Chapter 15 Solutions
INTERM.ACCT.:REPORTING...-CENGAGENOWV2
- Which statement about a "treasury shares" is correct? Question 10 options: These shares continue to have voting rights. These shares must be cancelled upon re-purchase. The company does not pay dividends on these shares. These shares are disclosed as issued and outstanding.arrow_forwardWhich statement best describes the accounting when a company cancels its own shares at an amount higher than the average share value? Question 9 options: Contributed surplus and retained earnings will be debited. Contributed surplus will be debited, thereby decreasing equity. Contributed surplus and retained earnings will be credited. Contributed surplus will be credited, thereby increasing equity.arrow_forwardWhich statement is correct? Question 8 options: A corporation need only pay dividends when it declares them to be payable. A company can avoid a cumulative dividend on preferred shares if it declares dividends on common shares. Dividends are never discretionary payments. Companies must pay the shareholders interest to compensate for the time value of money lost on the deferral of dividend payments. No entryarrow_forward
- Which statement is correct about the derecognition of a matured obligation? Question 7 options: There will be a gain on retirement. There could be either a gain or loss on retirement. There will be no gain or loss on retirement. There will be a loss on retirement.arrow_forwardWhat is a bond indenture? Question 5 options: Guarantee of the price to the borrower. Promise from the borrower to restrict certain activities. Contract that outlines the terms of the borrowing agreement. Feature that permits the borrower to redeem before maturity.arrow_forwardWhich of the following would be a "non-current liability"? Question 4 options: Payment due to a supplier 45 days after year-end for supplies received before year-end. Payment due to a supplier in 18 months for goods to be received 3 months after year-end. Payment due after 3 years, on which the debt covenants have been not been violated. Payment due after 3 years, but the company has violated the debt covenants. Previous PageNext Pagearrow_forward
- Which statement about contingencies is correct? Question 3 options: If the future outcome is probable and reliably measurable, a provision is recorded. If the future outcome is possible, a provision is recorded even if it is not reliably measurable. If the future outcome is possible and reliably measurable, a provision is recorded. If the future outcome is probable, a provision is recorded even if it is not reliably measurable. Previous PageNext Pagearrow_forwardWhat is the manufacturing overhead?arrow_forwardWhich of the following characteristic is required for a liability under IFRS Framework? Question 1 options: A past obligation. A future obligation An unknown obligation A present obligationarrow_forward
- Helparrow_forwardShoreline Production Inc. estimated its manufacturing overhead costs for 2023 to be $675,000, based on 225,000 estimated machine hours. The actual machine hours for 2023 were 240,000. The manufacturing overhead account contains debit entries totaling $690,000. Determine whether the manufacturing overhead for 2023 was overallocated or underallocated. (Round your immediate calculations to one decimal place.)arrow_forwardPlease explain the solution to this general accounting problem with accurate principles.arrow_forward
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