Ch12 Homework graded with errors

Ch12 Homework graded with errors - Question 1: Score 1.77/2...

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Unformatted text preview: Question 1: Score 1.77/2 Question 2: Score 1.4/2 Question 3: Score 1.77/2 Total grade: 1.01/9 + 1.01/9 + 1.01/9 + 1.01/9 + 1.01/9 + 1.01/9 + 1.01/9 + 1.01/9 + 0.01/9 = 11% + 11% + 11% + 11% + 11% + 11% + 11% + 11% + 0% Your response Correct response Exercise 12.2: Accounting Terminology L.O. 1-4, 6, 7 The following are 10 technical accounting terms introduced or emphasized in Chapters 11 and 12: P/E ratio Treasury stock Discontinued operations Stock dividend Extraordinary item Prior period adjustment Basic earnings per share Additional paid-in capital Diluted earnings per share Comprehensive income Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the term described, or answer "None" if the statement does not correctly describe any of the terms. a. A gain or loss that is unusual in nature and not expected to recur in the foreseeable future. b. The asset represented by shares of capital stock that have not yet been issued. c. A distribution of additional shares of stock that reduces retained earnings but causes no change in total stockholders' equity. d. The amount received when stock is sold in excess of par value. e. An adjustment to the beginning balance of retained earnings to correct an error previously made in the measurement of net income. f. A statistic expressing a relationship between the current market value of a share of common stock and the underlying earnings per share. g. A separate section to evaluate discontinued operation or activities. h. A pro forma figure indicating what earnings per share would have been if all securities convertible into common stock had been converted at the beginning of the current year. i. A broadly defined measure of financial performance that includes, but is not limited to, net income. Ex. 12.2 a. Extraordinary item (11%) b. None (11%) c. Stock dividend (11%) d. Additional paid-in capital (11%) e. Prior period adjustment (11%) f. P/E ratio (11%) g. Discontinued operations (11%) h. Diluted earnings per share (11%) i. Basic earnings per share (0%) Exercise 12.2: Accounting Terminology L.O. 1-4, 6, 7 The following are 10 technical accounting terms introduced or emphasized in Chapters 11 and 12: P/E ratio Treasury stock Discontinued operations Stock dividend Extraordinary item Prior period adjustment Basic earnings per share Additional paid-in capital Diluted earnings per share Comprehensive income Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the term described, or answer "None" if the statement does not correctly describe any of the terms. a. A gain or loss that is unusual in nature and not expected to recur in the foreseeable future....
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Ch12 Homework graded with errors - Question 1: Score 1.77/2...

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