Answer the following statements true (T) or false (F)
1. The main limitation in using book value per share for stock valuation models is the potential difference between recorded value and market value for both assets and liabilities.
2. Dividing stockholders equity applicable to common shares by the number of common shares outstanding yields the book value per common share.
3. If a corporation receives assets other than cash in exchange for stock, it records the assets received at their market value as of the date of the transaction.
4. A corporation may not legally give shares of its stock to promoters in exchange for their services in organizing the corporation.
5. When no-par stock is not assigned a stated value, the total amount received is recorded in the Common Stock account.
1. TRUE
2. TRUE
3. TRUE
4. FALSE
5. TRUE
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Answer the following statements true (T) or false (F)
1. By touching audience members in the way a generalization never could, an illustration helps the speaker pull listeners into the speech. 2. You don’t need to tell your audience when an example you are using is hypothetical. 3. Hypothetical examples are intended to trick your listeners into believing something that is not true. 4. The primary use of explanations and descriptions is to clarify and/or to evoke a sensory response.
A master budget consists of a set of operating budgets and a set of financial budgets for a specific accounting period
Indicate whether the statement is true or false
________ are business intelligence documents that are updated at the time they are requested
A) Subscriptions B) Third-party cookies C) Static reports D) Dynamic reports
Jervis sells $75,000 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 5% factoring fee. What entry should Jervis make to record the transaction?
A) Debit Cash $71,250; debit Factoring Fee Expense $3,750; credit Accounts Receivable $75,000 B) Debit Accounts Receivable $71,250; debit Factoring Fee Expense $3,750; credit Cash $75,000 C) Debit Cash $75,000; credit Factoring Fee Expense $3,750; credit Accounts Receivable $75,000 D) Debit Cash $71,250; credit Accounts Receivable $71,250 E) Debit Accounts Receivable $75,000; credit Factoring Fee Expense $3,750; credit Cash $71,250