Int. Accounting (Misc. for Exam 1)

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Author:
Dbadams94
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308252
Filename:
Int. Accounting (Misc. for Exam 1)
Updated:
2015-09-22 01:24:44
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ACC
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ACC
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  1. Carried at the par or stated value of the shares issued.
    Capital stock
  2. Amounts above par or stated value are recorded in... accounts.
    PIC
  3. The authorized, issued, and outstanding par value amounts must be...
    disclosed.
  4. Treasury stock is shown as a... of SE.
    reduction
  5. Treasury stock is a... account.
    contra-equity
  6. Accumulated income that has not been used for dividends.
    Retained earnings
  7. Net income is transferred to...
    RE
  8. Materiality involves evaluating what 2 things? (SI)
    • 1. Relative size &
    • 2. Importance

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