College Accounting, Chapters 1-27
23rd Edition
ISBN: 9781337794756
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Chapter 20, Problem 3MC
To determine
Identify the shares of stock reacquired by the issuing company.
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a. Which of the following disclosures regarding stock is not required to be reported on the balance sheet or in the notes to the financial statements?
the par value and the number of shares authorized, issued, and outstanding.
preferred stock characteristics, including dividend rate.
any dividends in arrears.
a list of names of stockholders.
Treasury stock shares are shares of stock that are:
Select one:
a. Authorized and issued, but not outstanding.
b. Authorized but not issued.
c. Authorized and issued, and outstanding.
d. Authorized and outstanding.
A stock's par value refers to the:
O A. Issue price of the stock.
O B. Value assigned per share by the corporate charter.
O C. Market value of the stock on the date of the financial statements.
D. Maximum selling price of the stock.
Chapter 20 Solutions
College Accounting, Chapters 1-27
Ch. 20 - Prob. 1TFCh. 20 - Prob. 2TFCh. 20 - Dividends are not taxable because these earnings...Ch. 20 - Prob. 4TFCh. 20 - Prob. 5TFCh. 20 - Prob. 1MCCh. 20 - Prob. 2MCCh. 20 - Prob. 3MCCh. 20 - Stock subscriptions receivable are listed as...Ch. 20 - Treasury stock is listed as a(n) __________ on the...
Ch. 20 - Prob. 1CECh. 20 - Genous Company has 20,000 shares of common stock...Ch. 20 - Prepare general journal entries for the following...Ch. 20 - Prepare the stockholders equity section of the...Ch. 20 - Prob. 1RQCh. 20 - Prob. 2RQCh. 20 - Prob. 3RQCh. 20 - Prob. 4RQCh. 20 - Prob. 5RQCh. 20 - If a corporation issues only one class of stock,...Ch. 20 - Prob. 7RQCh. 20 - Prob. 8RQCh. 20 - How is common stock subscriptions receivable...Ch. 20 - Prob. 10RQCh. 20 - Prob. 11RQCh. 20 - ORGANIZATION COSTS BB Electric decided to...Ch. 20 - DIVIDEND ALLOCATIONS Situation 1 Nguyen Company...Ch. 20 - STOCK ISSUANCE (PAR, NO-PAR, AND STATED VALUE) The...Ch. 20 - Prob. 4SEACh. 20 - STOCKHOLDERS EQUITY SECTION After closing its...Ch. 20 - PAR AND NO-PAR, COMMON AND PREFERRED STOCK...Ch. 20 - STATED VALUE, COMMON AND PREFERRED STOCK, AND...Ch. 20 - STOCK SUBSCRIPTIONS Juneau Associates had the...Ch. 20 - STOCK SUBSCRIPTIONS AND TREASURY STOCK Nash Roth...Ch. 20 - STOCKHOLDERS EQUITY SECTION After closing its...Ch. 20 - Prob. 1SEBCh. 20 - Prob. 2SEBCh. 20 - STOCK ISSUANCE (PAR, NO-PAR, AND STATED VALUE) The...Ch. 20 - STOCK ISSUANCE (NONCASH ASSETS, SUBSCRIPTIONS, AND...Ch. 20 - STOCKHOLDERS EQUITY SECTION After closing its...Ch. 20 - PAR AND NO-PAR, COMMON AND PREFERRED STOCK Valdez...Ch. 20 - STATED VALUE, COMMON AND PREFERRED STOCK, AND...Ch. 20 - STOCK SUBSCRIPTIONS Athletics West had the...Ch. 20 - STOCK SUBSCRIPTIONS AND TREASURY STOCK Rogers ...Ch. 20 - STOCKHOLDERS EQUITY SECTION After closing its...Ch. 20 - Prob. 1MYWCh. 20 - Prob. 1ECCh. 20 - Stockholders equity accounts and other related...Ch. 20 - Prepare general journal entries for the following...
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- What amount of the proceeds from the issuance of no-par, no-stated-value stock is recorded in the Capital Stock account?arrow_forwardTreasury stock is listed as a(n) __________ on the balance sheet. (a) current liability (b) current asset (c) deduction from stockholders equity (d) addition to stockholders equityarrow_forwardWhich of the following are not part of common equity? a. preferred stock c. retained earnings b. common stock d. treasury stockarrow_forward
- A stock's par value refers to the: O A. Value assigned per share by the corporate charter. O B. Market value of the stock on the date of the financial statements. OC. Maximum selling price of the stock.O D. Issue price of the stock.arrow_forwardInformation disclosed in a balance sheet/statement of financial position about shares of common stock/ordinary stock includes the number of shares that are: Select one: a. Authorized and issued. b. Authorized, issued, outstanding and non-outstanding. c. Authorized, issued and outstanding. d. Issued and outstanding.arrow_forwardIndicate how each of the following accounts should be classified in the stockholders’ equity section. a. Common Stock. b. Retained Earnings. c. Paid-in Capital in Excess of Par—Common Stock. d. Treasury Stock. e. Paid-in Capital from Treasury Stock. f. Paid-in Capital in Excess of Stated Value—Common Stock. g. Preferred Stock.arrow_forward
- Which of the following formulas is correct regarding the different status of shares of stock: authorized shares, issued shares, outstanding shares, and treasury shares? a. Issued – Treasury = Outstanding b. Issued + Treasury = Authorized c. Authorized + Treasury = Issued d. Issued + Outstanding + Treasury = Authorizedarrow_forwardAs of the date of the financial statements, the number of common shares issued will exceed the number of shares outstanding as a result of the: o. purchase of treasury stocks. b. declaration of a large stock dividend. c. declaration of a "Stock split" or fractionation of shares. d. immediate purchase and withdrawal of common shares.arrow_forwardAt the date of the financial statements, ordinary shares issued would exceed ordinary shares outstanding as a result of the a. Payment in full of subscribed shares b. Purchase of treasury shares c. Declaration of stock split d. Declaration of stock dividendarrow_forward
- The stock dividends distributable account is listed in the current liability section of the balance sheet.TrueFalsearrow_forwardwhen shares are issued at a premium the value of the share premium should be : a- taken to the profit and loss account b- shown under current liabilities in the balance sheet c- shown under capital & reserves in the balance sheet d- taken to the trading accountarrow_forwardExplain the accounting for issuance of par value shares and no-par value shares.arrow_forward
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