31st dec Retained earning Dividend Payable (to record dividend declared to preferred shareholders) Retained earning Dividend Payable (to record dividend declared to equity shareholders) 2550 167450 2550 167450
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- 1. Gains on sale of treasury shares (cost method) should be credited to •Share premium – treasury •Ordinary share •Gain on sale of treasury •Retained earnings 2. When share without par value and stated value are sold, the proceed should be credited to a. Profit or Loss b. Retained Earnings c. Share Capital d. Share premiumThe ____________________per share is the amount of income attributable to each share ofcommon stock.a. earningsb. market valuec. book valued. preferred valueWhat terminology best describes the EPS (earnings per share) formula below? Net income available to common stockholders/ (number of shares outstanding+ potential shares from employee options and convertible debt) A-diluted EPS B-Basic EPS C- operating EPS D- adjusted EPS
- Treasury 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 equityMatch each of the following terms with the correct definition: a. additional paid-in capitalb. issued and outstandingc. retained earningsd. treasury stocke. authorized share capitalf. par value Correct Definitions:A. The price at which each share is recorded in the company’s booksB. Held by investorsC. Cumulative amount of profits that have been plowed backD. The difference between the amount of cash raised by an equity issue and the par value of the issueE. The maximum number of shares that can be issued without shareholder approvalF. The amount that the company has spent buying back stock that it has not subsequently resoldMatch each of the following terms with the correct definition: a. additional paid-in capitalb. issued and outstandingc. retained earningsd. treasury stocke. authorized share capitalf. par value Correct Definitions:A. The price at which each share is recorded in the company’s booksB. Held by investorsC. Cumulative amount of profits that have been plowed backD. The difference between the amount of cash raised by an equity issue and the par value of the issueE. The maximum number of shares that can be issued without shareholder approvalF. The amount that the company has spent buying back stock that it has not subsequently resold SELECTED FORMULAS PVIFA = PVIF = requity = rassets + (rassets – rdebt) PV of tax shield = = Tc *DWACC = (1-Tc) * *() + *()
- Capital Gain or Loss Label as Shares Traded Purchase Price Selling Price Gain or Loss 37 5 39 27 110 275 8. 100 20 7 8, 101At what payout percentage is a stock dividend typically considered a stock split, in accordance with the recommendation of the Financial Accounting Standards Board? a. 15% b. 33% c. 25% d. 10%Dividends in arrears on preference shares are reported in the financial statements as a (an) a. liabilityb. reduction from Retained Earningsc. reduction from Retained Earningsd. expense
- #31 Complete the statement: Preference share that has a claim on any prior year dividends that may have passed is ______. Group of answer choices Non-cumulative Participating Cumulative Non-participatingIndicate the effects of each of the following transactions on Assets, Liabilities, Share Capital and Retained Earnings. Use + for increase, - for decrease, and 0 for no effect. Share Retained Assets Liabilities Capital Earnings 1. Declaration of cash dividends 2. Payment of cash dividends 3. Declaration of share dividends 4. Issuance of share dividends 5. A share split 6. Cash purchase of treasury stock 7. Sale of treasury stock below costHow would the share dividends distributable account balance be presented on the statement of financial position? * a. as part of current liabilities b. as addition to share capital c. as addition to retained earnings d. as addition to additional paid in capital
