Day 49 - 73% FAIL Flashcards
On 12/31, insurance costs were incurred but not recorded. What effect does this have on accrued liabilities and RE?
Accrued liabilities = Understand
RE=no effect
MCQ-00618
On 12/31, insurance costs were incurred but not recorded. What effect does this have on accrued liabilities and RE?
Accrued liabilities = Understand
RE=no effect
MCQ-00618
ABC issued 500,000 common stock shares IN the CY. At year end they declared a 30% stock dividend. The market value was $50 per share, the par value was $10 per share, and the average issue price per share was $30. What amount will decrease stockholders equity?
$0
The net effect to stockholders equity is zero
The reduction of RE is offset by the issuance of common stock
MCQ-04681
ABC makes lease payments at the end of each period. ABC liability for a finance lease would be reduced periodically by:
Minimum lease payments LESS the portion of the minimum lease payments allocated to interest
Think home mortgage
MCQ-00583
Troubled debt restructuring
MCQ-00666
