When callable preferred stock is recalled, if the recall price exceeds the total of the par value in the preferred stock account and the additional paid-in capital associated with the recalled preferred stock, the difference is
A) credited to Retained Earnings.
B) credited to Additional Paid-in Capital on Preferred Stock.
C) debited to Retained Earnings.
D) credited to Loss from Recall of Preferred Stock.
C
You might also like to view...
What are the five major conflict management styles?
What will be an ideal response?
AutomatedFry Inc. is the leading manufacturer of ventless deep fryers. It has developed a new high-capacity fryer
To identify the prospective clients for its latest product, it sends out brochures to thousands of food-service managers along with a detachable card that the managers can use to request more information. Based on this information, AutomatedFry Inc. is involved in the _____ step of the selling process. a. needs assessment b. lead generation c. sales presentation d. knowledge management
Women are likely to smile less and have a diminishing intonation at the end of sentences
Indicate whether the statement is true or false
The ABC partnership had net income of $100,000 for 20X9. They allocate profits and losses in the ratio 5:3:2. After closing the 12/31/20X9 books they discovered that $30,000 was spent on a piece of land in December 20X9 and was expensed. What should happen?
What will be an ideal response?