Corporate Liabilities & Equity: Classification, Valuation & Financial Statement Presentation

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Finance - Personal Finance

michael1tekrzp Created by 10 mon ago

Cards in this deck(19)

To be classified as a current liability, a debt must be expected to be paid within either _____ or the operating cycle.

Employer payroll taxes do not include _____ federal income taxes.

The rate of interest investors demand for loaning funds to a corporation is the _____ market interest rate.

Discount on bonds payable is a _____ contra account.

If bonds are issued at a premium, this indicates that the contractual interest rate _____ exceeds the market interest rate.

When bonds are redeemed before maturity, the gain or loss on redemption is the difference between the cash paid and the _____ carrying value.

Each payment on a mortgage note payable consists of interest on the unpaid balance of the loan and _____ reduction of loan principal.

Working capital is calculated as _____ current assets minus current liabilities.

True or False: Legal capital is intended to protect stockholders. _____

True or False: Market value per share should be assigned to the dividend shares. _____

In the stockholder's equity section, common stock dividends distributable is reported as an _____ addition to capital stock.

Do international standards use discounts and premiums? _____

Do US standards use discounts and premiums? _____

When is a premium issued? When the _____ contractual interest rate exceeds the market interest rate.

If carrying value is above face value, there is a _____ premium.

If carrying value is below face value, there is a _____ discount.

Benefits of bond financing include: 1. stockholder control not affected, 2. tax break, 3. _____ favorable earnings per share.

True or False: Outstanding shares can never be more than issued. _____

True or False: Issued shares can never be more than outstanding. _____

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