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kieso15etestbankch15
CHAPTER15
STOCKHOLDERS’EQUITY
IFRSquestionsareavailableattheendofthischapter.
TRUE-FALSe—Conceptual
AnswerNo.Description
T1.Stateacorporationincorporatesin.
F2.Definitionofpreemptiveright.
T3.Commonstockasresidualinterest.
F4.Earnedcapitaldefinition.
T5.Reportingtrueno-parstock.
F6.Allocatingproceedsinlumpsumsales.
T7.Accountingforstockissuedfornoncashconsideration.
F8.Definitionoftreasurystock.
F9.Reportingtreasurystockundercostmethod.
T10.Sellingtreasurystockbelowcost.
F11.Participatingpreferredstock.
T12.Callablepreferredstock.
T13.Restrictinglegalcapital.
F14.Disclosingdividendpolicy.
F15.Affectofdividendsontotalstockholders’equity.
T16.Propertydividendsdefinition.
T17.Accountingforsmallstockdividend.
F18.Stocksplitsandlargestockdividends.
F19.Computingrateofreturnoncommonstockequity.
T20.Computingpayoutratio.
MultipleChoice—Conceptual
AnswerNo.Description
c21.Natureofstockholders'interest.
b22.Pre-emptiveright.
d23.Pre-emptiveright.
bS24.Definitionoflegalcapital.
cS25.Definitionofresidualowner.
c26.Natureofstockholders'equity.
d27.Sourcesofstockholders'equity.
d28.Classificationofstockholders'equity.
d29.Allocationmethodsforalumpsumissuance.
b30.Capitalstockissuedinpaymentofservices.
a31.Costsofissuingcapitalstock.
b32.Creationof"secretreserves."
aP33.Authorizedshares.
dS34.Parvaluestock.
bS35.Legalrestrictionsforprofitdistributions.
aS36.Acquisitionoftreasuryshares.
dP37.Treasurysharesdefinition.
c38.Purchaseoftreasurystockatgreaterthanparvalue.
MultipleChoice—Conceptual（cont.）
AnswerNo.Description
a39.Saleoftreasurystock.
a40.Reissuedtreasurystockatlessthanacquisitioncost.
b41.Reissuedtreasurystockatgreaterthanacquisitioncost.
c42.Effectoftreasurystocktransactions.
c43.Preferredstock—debtfeatures.
b44.Cumulativefeatureofpreferredstock.
bP45.Reportingredeemablestock.
cS46.Reportingdividendsinarrears.
c47.Issuedvs.outstandingcommonstock.
b48.Timingofentrytorecorddividends.
c49.Sharesentitledtoreceiveacashdividend.
c50.Accountingforapropertydividend.
a51.Distributionofapropertydividend.
a52.Liquidatingdividend.
b53.Entrytorecordaliquidatingdividend.
b54.Effectsofastockdividend.
b55.Effectsofastockdividend.
b56.Effectofalargestockdividend.
b57.Largestockdividend.
a58.Smallstockdividend.
a59.Smallstockdividend.
b60.Classificationofstockdividendsdistributable.
b61.Effectofstocksplitsandstockdividends.
c62.Effectofastocksplit.
b63.Disclosuresinthebalancesheet.
a64.Returnoncommonstockequitycalculation.
b65.Payoutratiocalculation.
c66.Bookvaluepershare.
aP67.Computingbookvaluepershare.
c*68.Dividendsandtreasurystock.
a*69.Noncumulativepreferredstockanddividendsinarrears.
a*70.Disclosureofpreferreddividendsinarrears.
PThesequestionsalsoappearintheProblem-SolvingSurvivalGuide.
SThesequestionsalsoappearintheStudyGuide.
*ThistopicisdealtwithinanAppendixtothechapter.
MultipleChoice—Computational
AnswerNo.Description
a71.Compositionofstockholders'equity.
b72.Calculationoftotalpaid-incapital.
b73.Allocatingproceedsinlumpsumsales.
c74.Allocatingproceedsinlumpsumsales.
d75.Computingtotalpaid-incapital.
b76.Allocatingproceedsinlumpsumsales.
c77.Allocatingproceedsinlumpsumsales.
MultipleChoice—Computational（cont.）
AnswerNo.Description
d78.Computingpaid-incapitalfromtreasurystocktransactions.
d79.Recordingpurchaseoftreasurystock.
b80.Reissuetreasurystock—aboveacquisitioncost.
c81.Reissuetreasurystock—costmethod.
c82.Additionalpaid-incapitalwithtreasurystocktransactions.
d83.Calculationofadditionalpaid-incapital.
c84.Calculationofadditionalpaid-incapital.
a85.Totalstockholders'equitywithtreasurystocktransactions.
c86.Totalstockholders'equitywithtreasurystockexchange.
c87.Calculatedividendsforcumulativepreferredshares.
a88.Calculatedividendsforcommonshares.
a89.Calculatedividendsforcommonshares.
c90.Reductioninretainedearningsfrompropertydividends.
d91.Reductioninretainedearningsfrompropertydividends.
b92.Reductioninretainedearningscausedbyapropertydividend.
d93.Reductioninretainedearningsfrompropertydividends.
d94.Reductioninretainedearningsfrompropertydividends.
a95.Decreaseinretainedearningsfromcashandstockdividends.
c96.Calculationofalargestockdividend.
a97.Calculationofasmallstockdividend.
b98.Calculationofasmallstockdividend.
b99.Smallstockdividend'seffectonretainedearnings.
b100.Balanceofretainedearningsafterasmallstockdividend.
a101.Calculateretainedearningsavailablefordividends.
a102.Calculatedecreaseinretainedearnings.
c103.Calculatethepayoutratio.
a104.Calculatebookvaluepershare.
d105.Calculateretainedearningsavailablefordividends.
d106.Calculatedecreaseinretainedearnings.
c107.Calculaterateofreturnoncommonstockequity.
c108.Calculateprice-earningsratio.
a109.Calculatedividendspaidtocommonstockholders.
b110.Rateofreturnoncommonstockequity.
c111.Determinetherateofreturnoncommonstockequity.
a112.Determinebookvaluepershare.
b113.Computationofpayoutratio.
b114.Computationofbookvaluepershare.
b*115.Allocationofcashdividendtocommonandpreferredshares.
d*116.Cashdividendsforcumulativepreferredshares.
b*117.Cashdividendsforcumulativeparticipatingpreferredshares.
c*118.Cashdividendallocationwithparticipatingpreferredshares.
b*119.Cashdividendforcumulativepreferredshares.
MultipleChoice—CPAAdapted
AnswerNo.Description
d120.Capitalstockissuedinpaymentofservices.
b121.Proceedsfrompreferredstockinlumpsumissue.
c122.Determinepaid-incapitalfromtreasurystock.
b123.Reissuetreasurystock—costmethod.
c124.Effectofthereissuanceoftreasurystock.
d125.Entrytorecordpropertydividendsdeclared.
b126.Effectofaliquidatingdividend.
d127.Effectofastockdividend.
d128.Stockdividendwhenmarketpriceexceedsparvalue.
a129.Balanceofretainedearningsfollowingstockdividend.
c*130.Allocationofcashdividendtocommonandpreferredshares.
Exercises
ItemDescription
E15-131Lumpsumissuanceofstock.
E15-132Treasurystock.
E15-133Treasurystock.
E15-134Treasurystock.
E15-135Treasurystock.
E15-136Stockholders’equity.
E15-137Stockdividends.
E15-138Stockdividendsandstocksplits.
E15-139Computationofselectedratios.
*E15-140Dividendsonpreferredstock.
*E15-141Dividendsonpreferredstock.
PROBLEMS
ItemDescription
P15-142Equitytransactions.
P15-143Treasurystocktransactions.
P15-144Stockdividends.
P15-145Equitytransactions.
*P15-146Dividendsonpreferredandcommonstock.
CHAPTERLEARNINGOBJECTIVES
1.Discussthecharacteristicsofthecorporateformoforganization.
2.Identifythekeycomponentsofstockholders'equity.
3.Explaintheaccountingproceduresforissuingsharesofstock.
4.Describetheaccountingfortreasurystock.
5.Explaintheaccountingforandreportingofpreferredstock.
6.Describethepoliciesusedindistributingdividends.
7.Identifythevariousformsofdividenddistributions.
8.Explaintheaccountingforsmallandlargestockdividends,andforstocksplits.
9.Indicatehowtopresentandanalyzestockholders’equity.
*10.Explainthedifferenttypesofpreferredstockdividendsandtheireffectonbookvaluepershare.
*11.Comparetheproceduresforaccountingforstockholders’equityunderGAAPandIFRS.
SUMMARYOFLEARNINGOBJECTIVESBYQUESTIONS
Item
Type
Item
Type
Item
Type
Item
Type
Item
Type
Item
Type
Item
Type
LearningObjective1
1.
TF
2.
TF
3.
TF
21.
MC
22.
MC
23.
MC
S24.
MC
LearningObjective2
4.
TF
S25.
MC
26.
MC
27.
MC
28.
MC
LearningObjective3
5.
TF
29.
MC
32.
MC
S35.
MC
73.
MC
76.
MC
121.
MC
6.
TF
30.
MC
P33.
MC
71.
MC
74.
MC
77.
MC
131.
E
7.
TF
31.
MC
S34.
MC
72.
MC
75.
MC
120.
MC
142.
P
LearningObjective4
8.
TF
P37.
MC
41.
MC
80.
MC
84.
MC
123.
MC
134.
E
9.
TF
38.
MC
42.
MC
81.
MC
85.
MC
124.
MC
135.
E
10.
TF
39.
MC
78.
MC
82.
MC
86.
MC
132.
E-CT
143.
P
S36.
MC
40.
MC
79.
MC
83.
MC
122.
MC
133.
E
LearningObjective5
11.
TF
43.
MC
P45.
MC
87.
MC
89.
MC
12.
TF
44.
MC
S46.
MC
88.
MC
LearningObjective6
13.
TF
14.
TF
LearningObjective7
15.
TF
48.
MC
51.
MC
90.
MC
93.
MC
126.
MC
145.
P
16.
TF
49.
MC
52.
MC
91.
MC
94.
MC
136.
E
47.
MC
50.
MC
53.
MC
92.
MC
125.
MC
144.
P-CT
LearningObjective8
17.
TF
57.
MC
62.
MC
99.
MC
104.
MC
127.
MC
144.
P-CT
18.
TF
58.
MC
95.
MC
100.
MC
105.
MC
128.
MC
145.
P
54.
MC
59.
MC
96.
MC
101.
MC
106.
MC
129.
MC
55.
MC
60.
MC
97.
MC
102.
MC
107.
MC
137.
E
56.
MC
61.
MC
98.
MC
103.
MC
108.
MC
138.
E
LearningObjective9
19.
TF
63.
MC
65.
MC
P67.
MC
110.
MC
112.
MC
114.
MC
20.
TF
64.
MC
66.
MC
109.
MC
111.
MC
113.
MC
139.
E
LearningObjective*10
68.
MC
70.
MC
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