FAR 7 Q 1B

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Anonymous
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225326
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FAR 7 Q 1B
Updated:
2013-06-29 01:28:28
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FAR
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FAR 7 Q 1B
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  1. Under the ---------------- the treasury shares are recorded and carried at their reacquisition cost.  A gain or loss will be determined when treasury stock is reissued or retired and the orginal issue price and book value of the stock do not enter into the accounting.
    cost method
  2. Under the cost method the --------------- are recorded and carried at their reacquisition cost.  A gain or loss will be determined when treasury stock is reissued or retired and the orginal issue price and book value of the stock do not enter into the accounting.
    treasury shares
  3. Under the cost method the treasury shares are recorded and carried at their reacquisition cost.  A gain or loss will be determined when treasury stock is reissued or retired and the -------------------- and book value of the stock do not enter into the accounting.
    orginal issue price
  4. Under the cost method the treasury shares are recorded and carried at their reacquisition cost.  A gain or loss will be determined when treasury stock is ------------------------ and the orginal issue price and book value of the stock do not enter into the accounting.
    reissued or retired
  5. Under the --------------------------------- the treasury shares are recorded by reducing the amounts of par value and additional paid in capital received at the time of the original sale
    legal method/par value method
  6. Under the legal method/ par value method the treasury shares are recorded by reducing the amounts of par value and additional paid in capital received at the time of the ---------------
    original sale
  7. Under the legal method/ par value method the treasury shares are recorded by reducing the amounts of par value and ----------------------- received at the time of the original sale
    additional paid in capital
  8. equity instruments issued for employee service are to be valued at the -----------------
    date of the grant
  9. what is the date which a public entity is required to measure the cost of employee services in exchange for an award of equity interest based on the fair market value of the award
    date of grant
  10. Gains and losses on treasury stock transactions are never recorded on the --------------------------.  Gains are recorded by increasing APIC - Treasury Stock.   Losses are recorded by first eliminating any balance in APIC - Treasury stock and then decreasing retained earnings
    income statement
  11. Gains and losses on treasury stock transactions are never recorded on the income statement.  Gains are recorded by increasing ------------------.   Losses are recorded by first eliminating any balance in APIC - Treasury stock and then decreasing retained earnings
    APIC - Treasury Stock
  12. Gains and losses on treasury stock transactions are never recorded on the income statement.  Gains are recorded by increasing APIC - Treasury Stock.   ------------ are recorded by first eliminating any balance in APIC - Treasury stock and then decreasing retained earnings
    Losses
  13. Gains and losses on treasury stock transactions are never recorded on the income statement.  Gains are recorded by increasing APIC - Treasury Stock.   Losses are recorded by first eliminating any balance in ------------------------------- and then decreasing retained earnings
    APIC - Treasury Stock
  14. Corporations are not permitted to report income statement gains and losses from treasury stock transactions?   T/ F
    T
  15. Corporations are ------------------- to report income statement gains and losses from treasury stock transactions?
    not permitted
  16. treasury stock gains and losses are reported as ---------------------------- to stockholder equity
    direct adjustments
  17. treasury stock gains and losses are reported as direct adjustments to --------------------
    stockholder equity
  18. Net income or retained earnings will ------- be increased through treasury stock transactions
    never
  19. Net income or retained earnings will never be increased through treasury stock transactions    T/F?
    T
  20. in a compensatory stock option plan for which the grant and exercise dates are different the stock options outstanding account should be reduced when?
    The exercise date
  21. Stock options outstanding are reduced at the ---------------------
    exercise date
  22. Quoit Inc issued preferred stock with detachable common stock warrants.  the issue price exceeded the sum of the warrants fair value and the preferred stock par value.  The preferred stocks fair value was not determinable.   What amount should be assigned to the warrants outstanding?
    the fair value of the warrants
  23. Cumulative preferred stock dividends are paid on par value of preferred stock and have a preference over common stock dividends until all past preferred stock dividends are paid
    par value
  24. Cumulative preferred stock dividends are paid on par value of preferred stock and have a --------------- common stock dividends until all past preferred stock dividends are paid
    preference over
  25. Cumulative preferred stock dividends are paid on par value of preferred stock and have a preference over common stock dividends until ----------------preferred stock dividends are paid
    all past
  26. A property dividend should be recorded in retained earnings at the property's?
    market value at the date of declaration
  27. the  portion of proceeds in excess of stocks par value is credited to APIC at the time the rights are exercised
    excess
  28. the  portion of proceeds in excess of stocks par value is credited to --------- at the time the rights are exercised
    APIC
  29. the  portion of proceeds in excess of ----------------------- is credited to APIC at the time the rights are exercised
    stocks par value
  30. Compensation cost should be charged to expense over the ----------------
    service period
  31. the primary purpose of a quasi reorganization I to give a corporation the opportunity to
    eliminate a deficit in retained earnings

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