Paid-in Capital in Excess of Par Value
a. is credited when no-par stock does not have a stated value.
b. is reported as part of paid-in capital on the balance sheet.
c. represents the amount of legal capital.
d. normally has a debit balance.
Answer: B
Accounting
- Per U.S. GAAP, which of the following statements is correct regarding accounting changes that result in financial statements that are, in effect, the statements of a different reporting entity?
- Under U.S. GAAP, a transaction that is unusual in nature and infrequent in occurrence should be reported separately as a component of income:
- On October 1, 20X3 , Wand , Inc. committed itself to a formal plan to sell its Kam division's assets early in 20X4. On that date, Wand estimated that the fair value of the component's assets was $25,000 less than the carrying value. Wand also estimated that Kam would incur operating losses of $100,000 for the period of October 1, 20X3 through December 31, 20X3 and $50 ,000 for the period January 1, 20X4 through February 28, 20X4. All estimates proved to be materially correct. Disregarding income taxes, what should Wand report as loss from discontinued operations in its comparative 20X3 and 20X4 income statements?
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- What is the formula to calculate basic interest?
- Due to the importance of earnings per share information, it is required to be reported by all Public Companies Nonpublic Companies
- What effect will the acquisition of treasury stock have on stockholders' equity and earnings per share, respectively?
- In computations of weighted average of shares outstanding, when a stock dividend or stock split occurs, the additional shares are