300112

Question 1

Which of the following is included on a statement of changes in equity?

Events changing stockholders’ equity accounts are listed chronologically to the left.

All of the items listed are included on a statement of changes in equity.

Column headings identify individual stockholders’ equity accounts.

The impact of the transactions on the number of shares of stock, if any, is presented in the descriptions to the left.

Answer 1

All of the items listed are included on a statement of changes in equity.

A statement of changes in stockholders’ equity includes the following:

• Column headings that identify individual stockholders’ equity accounts
• Events changing stockholders’ equity accounts
• The body of the statement presented in terms of the dollar impact of various transactions and events
• The impact of the transactions on the number of shares of stock, if any
• Ending balances that tie to the items presented in the stockholders’ equity section of the balance sheet on the same dates

Question 2

Stockholders’ Equity

Answer 2

Stockholders’ equity is total residual ownership interest in the corporation: net assets and total assets in excess of total liabilities. The source of equity should be specified and segregated:

Contributed capital (paid-in capital):
Capital stock, at par:
Common
Preferred
Less: Treasury stock (under the par value method)
Other contributed capital:
Contributed capital in excess of par (CCEP) (also called Additional paid-in capital (APIC)) on both common and preferred
Contributed capital from treasury stock (under the par value method or cost method)
Donated capital
Retained earnings (earned capital):
Appropriated
Unappropriated
Unrealized capital
Less: Treasury stock (under the cost method)
SFAC 6.60

Question 3

2114.01

Answer 3

An example of a comparative statement of changes in stockholders’ equity for Tiger Co. for 20X1 and 20X2 is presented as follows:

Question 4

2114.02

Answer 4

Tiger Co.’s statement of changes in stockholders’ equity reveals the following:

a. Column headings identify individual stockholders’ equity accounts.
b. Events changing stockholders’ equity accounts are listed chronologically to the left.
c. The body of the statement is presented in terms of the dollar impact of various transactions and events.
d. The impact of the transactions on the number of shares of stock, if any, is presented in the descriptions to the left.
e. The ending balances tie to the items presented in the stockholders’ equity section of the balance sheet on the same dates.

Question 5

FASB ASC 215-10-05

Question 6

FASB ASC 215-10-50