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Accounting for Stockholders Equity
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Intermediate Accounting Study Set 7

Business

Quiz 15 :
Accounting for Stockholders Equity

Quiz 15 :
Accounting for Stockholders Equity

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Stockholders' equity represents the interest in a corporation held by the investors.
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True False
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Answer:

True

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Contributed capital includes amounts earned from the operations of a business.
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True False
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Answer:

False

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U.S. GAAP and IFRS use the same terminology for stockholders' equity components.
Free
True False
Answer:

Answer:

False

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Stockholders' equity is also called ________.
Multiple Choice
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________ is a major component/section of stockholders' equity on the balance sheet.
Multiple Choice
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________ receive dividend distributions after the company has paid all other providers of capital their return on investment.
Multiple Choice
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________ represents the amounts that common and preferred shareholders contribute in excess of the stated or par value.
Multiple Choice
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Caesar Company issued 1,600 shares of its $2 par value common stock for $16 per share. They will record ________ in the common stock account at par value and ________ as additional paid-in capital in excess of par-common.
Multiple Choice
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Woods, Inc. issued 150 shares of its $8 par value common stock for $19 per share. They will record ________ in the common stock account at par value and ________ as additional paid-in capital in excess of par-common.
Multiple Choice
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C&S Corporation issued 2,000 shares of its $7 par value common stock for $12 per share. What amount would they record as additional paid-in capital in excess of par-common?
Multiple Choice
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TLR Productions issued 800 shares of its $4 par value common stock for $12 per share. What amount would they record as additional paid-in capital in excess of par-common?
Multiple Choice
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Identify whether the stockholders' equity terminology belongs to U.S. GAAP, IFRS, or both. img
Essay
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A change in stated value per share does not require shareholder approval and filings with the state.
True False
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If a corporation wishes to change the par value per share on its common stock, it must amend its articles of incorporation.
True False
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The number of outstanding shares of common stock may be reduced by shares held in the treasury.
True False
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A stock split reduces retained earnings.
True False
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The total number of shares that a firm can legally issue are called ________.
Multiple Choice
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Stock issue costs are treated as a(n) ________.
Multiple Choice
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When issuing common stock for noncash consideration, how does a company determine the value of the shares issued?
Multiple Choice
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________ is the corporation's own shares repurchased by the corporation and held for some future use.
Multiple Choice
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