Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

1. Entry to record issuance of 1,000 shares of $1 par value common stock at $10 per share includes:

 

a. increase to common stock for $10,000.

 

b. decrease to common stock for $1,000.

 

c. increase to paid-in capital in excess of par value-common for $9,000.

 

d. decrease to paid-in capital in excess of par value-common for $1,000.

 

2. Number of shares of treasury stock plus number of shares outstanding equals number of shares:

 

a. authorized which have not been issued.

 

b. authorized.

 

c. issued.

 

d. issued that have not been reacquired by company.

 

3. Highly liquid short-term investments which are easily convertible into cash are known as:

a. cash reserves.

 

b. accounts receivable.

 

c. trading securities.

 

d. cash equivalents.

 

4. Which of the given would be reported on statement of cash flows as financing activity?

a. distribution of stock dividend

 

b. purchase of treasury stock

 

c. interest paid on bonds payable

 

d. all of the above

 

5. On indirect method statement of cash flows, gain on the sale of plant assets is:

a. reported in financing activities section.

 

b. added to net income.

 

c. reported in investing activities section.

 

d. deducted from net income.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M921554

Have any Question? 


Related Questions in Accounting Basics

Taskas part of the planning process for your new accounting

TASK As part of the planning process for your new accounting information system, your manager has asked that you prepare flowcharts. This graphic presents the flow of information through the accounting cycles. • Using th ...

Maher inc reported income from continuing operations before

Maher Inc. reported income from continuing operations before taxes during2014 of $790,000. $790,000 Additional transactions occurring in 2014 but not considered in the $790,000 are as follows. 1. The corporation experien ...

Imagine you are the responsible accountant for one of our

Imagine you are the responsible accountant for one of our companies. Apart from local gaap or local accounting rules but with regard to HB II (Group financial statement) and with the help of the HB II accounting manual o ...

1 here is a very detailed article on asset

1. Here is a very detailed article on asset valuation. http://www.investopedia.com/articles/stocks/07/allocate_assets.asp What have you found interesting in this article? How can this help you as you progress with your a ...

1 the objective of a firms management should be to only

1. The objective of a firm's management should be to only undertake the projects that ________ the market value of shareholders' equity. a. decrease b. increase c. do not change d. provide zero change to e. none of the a ...

What is the difference between a significant deficiency and

What is the difference between a significant deficiency and a material weakness as it relates to internal Control? How does the presence of one material deficiency affect the auditor's report on internal controls under t ...

Question 1how would outstanding checks be handled when

Question 1 How would outstanding checks be handled when reconciling the ending cash balance per the bank statement to the correct adjusted cash balance? A. They would be added to the balance of the bank statement. B. The ...

Assignmentparticipation topic mandatoryinventory additional

Assignment Participation Topic (Mandatory) Inventory Additional Lecture Notes Class, Let me see if I can work up an example of how to calculate and use the different inventory methods. Let us use the following informatio ...

Task -question 1 - saasu task 1you are working as an

Task - Question 1 - Saasu Task 1 You are working as an accountant in a regional accounting firm and have been approached by the owner of a start-up retail business. They have chosen Saasu as their accounting system and h ...

1 is a trial balance that gives you the balances to use to

1) is a Trial Balance that gives you the balances to use to prepare the financial statements; 2) is a Template that you can use, note there are drop down choices - but, you can definitely use your own on Excel or similar ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen