Treasury shares are most often reported as: A) A reduction of total shareholders' equity. B) A reduction of total paid-in capital. C) A reduction of retained earnings. D) An expense in the income statement. O A O B O C OD
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- 20.Which of the following items is not a sub-category of shareholders’ equity? a. Share capital b. Retained earnings c. Dividends payable d. Share premium7. In computing basic earnings per share, the amount of preference dividends on noncumulative preference shares shall be a. Deducted from net income whether declared or not b. Deducted from net income only when declared c. Added to net income only when declared d. Ignored 8. Earnings per share shall be computed on the basis of a. Ordinary shares outstanding at the end of the year b. Ordinary shares outstanding at the beginning of the year c. Ordinary shares outstanding at the middle of the year d. Average ordinary shares outstanding during the year 9. In computing basic earnings per share, an entity would include which of the following? a. Dividends on nonconvertible cumulative preference shares b. Dividends on ordinary shares c. Interest on convertible bonds d. Number of nonconvertible cumulative preference shares1. What amount should be reported as basic earnings per share?a. 6.00b. 5.50c. 5.00 2. What amount should be reported as diluted earnings per share?a. 6.88b. 6.11c. 5.24
- QUESTION 10 Diluted earnings per share shows dilution resulting from additional shares that may be issued for stock options or bonds that may be converted to shares of common stock in the future. True FalseDividends in arrears on preference shares are reported in the financial statements as a (an) a. liabilityb. reduction from Retained Earningsc. reduction from Retained Earningsd. expense5. How is the treasury share account presented in the Statement of Financial Position? a. deducted from accumulated profits b. deducted from shareholders’ equity c. part of reserves d. current asset
- Question 13 1.25 points Save Answer The cumulative effect of the declaration and distribution of a stock dividend on a company's balance sheet is to: O A. increase assets and stockholders' equity O B. decrease retained earnings and increase paid-in capital Oc. decrease paid-in capital and stockholders' equity O D. decrease current liabilities and stockholders' equityWhat effect will the acquisition of treasury stock have on stockholders' equity and earnings per share, respectively? a. Decrease and no effect b. Increase and no effect c. Decrease and increase d. Increase and decrease8. How would total stockholders' equity be effected by the declaration of each of the following? Stock dividend a. No effect b. Decrease c. Decrease d. No effect Stock Split Increase Decrease No effect No effect
- 21. What does IAS 32 provide as regards to the gain from sale of treasury shares? Group of answer choices a. It shall be recognized in profit or loss. b. It shall be credited to share premium. c. It shall be credited to share capital. d. It shall be credited to retained earnings.Problem #1 Effects of Transactions Indicate 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 Сapital 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 tre stock below cost Problem #2 Effect of Cash Dividend Indicate whether the following actions would (+) increase, (-) decrease, or (0) not affect Bernal Inc.'s total assets, liabilities and shareholders' equity: Shareholders' Assets Liabilities Equity 1. Declaring a cash dividend Paying the cash dividend declared in no. 1 2. 3. Declaring a share dividend 4, Issuing share certificates for the share dividend declared in no. 3 5. Authorizing and issuing share certificates in a share splitItem 1 of 30 Book value per common share represents the amount of shareholders' equity assigned to each outstanding share of common stock. Which one of the following statements about book value per common share is correct? Select the correct response: Book value per common share can be misleading because it is based on historical cost. Market price per common share usually approximates book value per common share. A market price per common share that is greater than book value per common share is an indication of an overvalued stock. Book value per common share is the amount that would be paid to shareholders if the company were sold to another company.