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Chapter 13 Quiz

# Chapter 13 Quiz - ACC102 C13 Student Practice Quiz ALL...

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ACC102 C13 Student Practice Quiz ALL OBJECTIVES BUT not 7 calculating book value True-False 1. TF The conversion of preferred shares of stock into common shares would be disclosed in the statement of stockholders’ equity. 2. TF A stock dividend will increase total stockholders’ equity. 3. TF Common Stock Distributable is classified as a current liability. 4. TF The heading of a statement of stockholders’ equity could correctly contain the line “December 31, 20xx.” 5. TF In the calculation of book value per share of common stock, the call value of preferred stock is relevant, but any dividends in arrears are not . (do not do Objective 7 so not needed) 6. TF When a large stock dividend is declared, the par or stated value of the stock should be transferred from retained earnings to contributed capital. 7. TF A company with a complex capital structure must present two earnings per share figures. Multiple Choice 8. In accounting, a deficit is defined as a a. net loss. b. credit balance in retained earnings. c. negative balance in cash. d. restriction on retained earnings. e. negative balance in retained earnings. 9. Which of the following would not be treated as an extraordinary item? 10. In 20x8, a company changes from the straight-line method of depreciation to the double-declining- balance method. Depreciation taken prior to the change was \$4,000, but would have been \$9,000 if the new method had been used all along. Ignoring taxes, what should be done to account for the change? The \$5,000 difference should be

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Chapter 13 Quiz - ACC102 C13 Student Practice Quiz ALL...

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