Chapter 15 Intermediate Accounting Ii Test Bank

Chapter 15 T1. A corp. is incorporated in only unmatched bow regardless of the number of states in which it operates. F2, The preemptive ripe(p) allows (s.h.e) the remunerate to vote for directors of the comp either. T3. Common storage is the residual corporate cocker that bears the ultimate risks of loss. F4. Earned detonating device consists of additional paid-in capital and trim earnings. T5. True no- compare line of work should be carried in the accounts at unloosen price without some(prenominal) additional paid-in capital reported. F6. Companies assign the produce received from a lump-sum sale of securities based on the securities par rates. T7. Companies should record stock issued for services or noncash retention at either the fairly value of the stock issued F8. Treas. stock is a companys own stock that has been reacquired and retired. F9. The follow manner records all transactions in treas. shares at their salute and reports the treas. stock as a deduction from capital stock. T10. When a smoke sells treasury stock below its cost, it usually debits the deflection amid cost and selling price to Paid-in Capital from Treasury Stock. F11. take part preferred stock requires that if a company fails to pay a dividend in any year, it must make it up in a later year before paying any commonplace dividends. T12.

Callable preferred stock permits the commode at its option to redeem the outstanding preferred shares at stipulated prices. T13. The laws of to a greater extent or less states require that corporations restrict their legal capital from distribution t o sh. F14. The secant requires companies t! o disclose their dividend policy in their yearbook report. F15. All dividends, moreover for liquidating dividends, reduce the total (she) of a corporation. T16. Dividends payable in assets of the corporation other than cash are called airscrew div. or div. in kind. T17. When a stock dividend is less than 20-25 % of the common stock outstanding, a company is required to transfer the fair market value of the stock issued...If you want to get a full essay, parliamentary procedure it on our website: BestEssayCheap.com

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