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Exam 1
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Treasury Stock
JE-Issue
Dr. Cash
Cr. Common Stock
Cr. PIC
Treasury Stock
JE-BuyBack
Dr. Treasury Stock (buy-back price)
Cr. Cash
Treasury Stock
JE-Re-Issuue
Cash > Cost
Dr. Cash
Cr. Treasury Stock
Cr. PIC (TS)
Cash < Cost
Dr. Cash
Dr. PIC (TS) or RE (if PIC(TS) is $0)
Cr. Treasury Stock
Treasury Stock
JE-Retire
If original issue price > buy back
Dr. PIC (original)
Dr. Commons Stock (par)
Cr. Treasury Stock (cost)
Cr. PIC (Retirements) plug
If original issue price < buy back
Dr. PIC Retirement or RE (if PIC (ret.)is $0
Dr. PIC (original)
Dr. Common stock (par)
Cr. Treasury Stock (Cost)
Cash Dividend
JE-Declare and Distribute
Dr. RE or Div
Cr. Div Payable
Dr. Div Payable
Cr. Cash
Property Dividend
JE-Declare and Distribute
Dr. Property
Dr./Cr. Loss or Gain
Dr. R/E
Cr. Div Payable
Dr Div Pay
Cr. Cash
Stock Dividend
JE-Declare and Distribute
Dr. RE or Div
Cr. C/S ditributable @par
Cr. APIC
*small <25% use MV
large > 25@ use par value
Dr. C/S Distribuable
Cr. Common Stock
Stock Divident vs Stock Split
Object- no cash vs affortable Market share
J/E- Dr RE, Cr C/S, APIC vs no entry footnote
Total Stockholders equity- no change
Contributed Capital- increase vs no change
Par Value Per Share- no change vs reduce
Shares O/S- increases
Total Assets- no changes
EPS decreases
APIC increase vs no change
Dividend Preferences
Non-Cummulative- current year only
Non- Participationg- ceiling on amounts paid
Cumulative- money from arrears
Participation= extra amounts during good times
Convertible Debt
BP -> CS
Eliminate B/P and related accounts; Credit C/S for par and APIC
no gain o Loses plug APIC as necessary
Convertible Debt
Pref Stock -> Com Stock
Dr. Pref Stock
Dr. APIC-Pref Stock
Cr Com Stock
Cr APIC-Com Stock
no gain or losses plug APIC
Detachable Stock Warrants issued with Bonds
Allocate cash received to Bonds and Stock Warrants using Wtd Ave of their FMV
Issueance
:
Dr. Cash
Dr/Cr Dis/Pre on B/P
Cr. PIC-SW
Author
Anonymous
ID
271510
Card Set
Exam 1
Description
ch 13-16
Updated
4/23/2014, 3:58:09 AM
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