Retained Total Stockholders' Net Profit Earnings Equity a. A stock dividend is declared and paid. b. Merchandise is purchased on credit. c. Marketable securities are sold above cost. d. Accounts receivable are collected. e. A cash dividend is declared and paid. f Treasury stock is purchased and recorded at cost. g. Treasury stock is sold above cost. h. Common stock is sold. i. A fixed asset is sold for less than book value. 1. Bonds are converted into common stock.
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- Treasury stock a. Has a normal credit balance. b. Decreases stockholders’ equity.c. Is recorded as an investment. d. Increases stockholders’ equity.Identify the account(s) needed to enter the transaction. Indicate whether entry is debit (DR) or credit (CR). 1. Declared stock dividend based on market price or lower than par ______________ 2. Distribution of no.1 stock dividends. _______________ 3.Cash sale of bond between interest date _______________ 4. Payment of interest on No. 3 above. _______________24) Money Market instruments are: A. Common stock В. Preferred stock С. Loan stock D. Debt obligation 25) Commercial papers that are sold directly to investors by the issues are called: A. Dealer placed B. Direct placed C. Broker placed D. Institutional placed
- Declaration of cash dividends will … a. Increase the retained earnings b. Increase the stockholders’ equity c. Decrease the retained earnings d. Decrease the total equity Entries for dividends are required on the … a. Declaration date and payment date b. Declaration date and record date c. Record date and declaration date d. Payment date and record dateStockholders' equity a.is shown on the income statement b.is usually equal to cash on hand c.includes paid-in capital and liabilities d.includes retained earnings and paid-in capitalStockholders' equity a.is usually equal to cash on hand b.includes retained earnings and paid-in capital c.is shown on the income statement d.includes paid-in capital and liabilities
- Cash is A B C normally reported as the first item on a company's income statement usually a company's least liquid asset normally reported as the first asset on a company's balance sheet reported on the balance sheet in the same account as stocks and short-term bondsStockholders' equity a.includes paid-in capital and liabilities b.includes retained earnings and paid-in capital c.is shown on the income statement d.is usually equal to cash on hand5. How is the treasury share account presented in the Statement of Financial Position? a. deducted from accumulated profits b. deducted from shareholders’ equity c. part of reserves d. current asset
- A common measure of liquidity is a.the asset turnover ratio b.the accounts receivable turnover c.the profit margin d.dividends per share of common stockThe entry to record common stock issued at its par value includes a: A. credit to Cash B. debit to Retained Earnings C. credit to the Common Stock account D. debit to Paid-in Capital in Excess of Par Value-CommonDetermine if the following, if stocks or bonds 1. Its buyers receive return called dividend. a. Stocks b. Bonds 2. It is paid based on its redemption value. a. Stocks b. Bonds 3. It is said to be redeemed at par if face value equals redemption value a. Stocks b. Bonds 4. It is represented by a certificate which is proof of ownership. a. Stocks b. Bonds 5. It grants credit to a company. a. Stocks b. Bonds 6. It represents a claim on the company's assets and earnings. a. Stocks b. Bonds 7. Its buyers become lenders to the company. a. Stocks b. Bonds 8. It is a written contract between the borrower and the lender. a. Stocks b. Bonds 9. Some owners of it earn voting rights to some important company decisions. a. Stocks b. Bonds 10. Some owners of it earn voting rights to some important company decisions. a. Stocks b. Bonds