ACC 423 Week 5 Individual Wiley Plus Exercises

 This work of ACC 423 Exam 2 comprises:


 1) When the cash proceeds from a bond issued with detachable stock warrants exceed the sum of the par value of the bonds and the fair market value of the warrants, the excess should be credited to

 2) The conversion of preferred stock into common stock requires that any excess of the par value of the common shares issued over the carrying amount of the preferred being converted should be

 3) When convertible debt is retired by the issuer, any material difference between the cash acquisition price and the carrying amount of the debt should be

 4) When a corporation issues its capital stock in payment for services, the least appropriate basis for recording the transaction is the

 5) The accounting problem in a lump sum issuance is the allocation of proceeds between the classes of securities An acceptable method of allocation is the

 6) Which of the following represents the total number of shares that a corporation may issue under the terms of its charter?

 7) How should a "gain" from the sale of treasury stock be reflected when using the cost method of recording treasury stock transactions?

 8) Treasury shares are

 9) When treasury stock is purchased for more than the par value of the stock and the cost method is used to account for treasury stock, what account(s) should be debited?

 10) When computing diluted earnings per share, convertible bonds are

 11) In computing earnings per share, the equivalent number of shares of convertible preferred stock are added as an adjustment to the denominator (number of shares outstanding)If the preferred stock is cumulative, which amount should then be added as an adjustment to the numerator (net earnings)?

 12) Antidilutive securities

 13) At its date of incorporation, Wilson, Inc issued 100,000 shares of its $10 par common stock at $11 per share During the current year, Wilson acquired 20,000 shares of its common stock at a price of $16 per share and accounted for them by the cost method Subsequently, these shares were reissued at a price of $12 per share There have been no other issuances or acquisitions of its own common stock What effect does the reissuance of the stock have on the following accounts?

 Retained Earnings |Additional Paid-in Capital

 14) A corporation declared a dividend, a portion of which was liquidatingHow would this distribution affect each of the following?

 Additional Paid-inCapital | Retained Earnings

 15) How would the declaration and subsequent issuance of a 10% stock dividend by the issuer affect each of the following when the market value of the shares exceeds the par value of the stock?

 16) A reclassification adjustment is reported in the

 17) Which of the following is correct about the effective-interest method of amortization?

 18) When investments in debt securities are purchased between interest payment dates, preferably the

 19) When an investor's accounting period ends on a date that does NOT coincide with an interest receipt date for bonds held as an investment, the investor must

 20) Which of the following is NOT a debt security?

 21) Investments in debt securities should be recorded on the date of acquisition at

 22) When a company holds between 20% and 50% of the outstanding stock of an investee, which of the following statements applies?

 23) An investor has a long-term investment in stocks Regular cash dividends received by the inves

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