The par value of shares historically indicated the real value of shares and all shares were issued at that price. The concept has changed with time. Describe the meaning of par value as it has evolved to today.
Answer to relevant QuestionsWhat is comprehensive income? How does comprehensive income differ from net income? Where do companies report it in a balance sheet?The costs of legal, promotional, and accounting services necessary to effect the sale of shares are referred to as share issue costs. How are these costs recorded? Compare this approach to the way debt issue costs are ...A quasi reorganization is sometimes employed by a firm undergoing financial difficulties, but with favorable future prospects. What are two objectives of this procedure? Briefly describe the procedural steps.The Jennings Group reacquired 2 million of its shares at $70 per share as treasury stock. Last year, for the first time, Jennings sold 1 million treasury shares at $71 per share. By what amount will Jennings' retained ...Companies are required to transfer “other comprehensive income” each period to shareholders' equity. The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted ...
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