Questions from College Accounting

Q: Explain the purpose of the account Paid-In Capital from Treasury

Explain the purpose of the account Paid-In Capital from Treasury Stock.

Q: Appropriation of retained earnings is always done for a contractual reason.

Appropriation of retained earnings is always done for a contractual reason. Agree or disagree? Defend your position.

Q: What elements make up the statement of retained earnings?

What elements make up the statement of retained earnings?

Q: Alan Homes serves on the board of directors of Flynn Company.

Alan Homes serves on the board of directors of Flynn Company. The president of Flynn told him that in three weeks the corporation would announce a 25% increase in dividends. Alan called his neighbor t...

Q: Before Adjustment / Given: At year end

Before Adjustment Given: At year end, depreciation on Equipment is $1,700. a. Which of these three T accounts is not affected? b. Which account is a contra-asset? c. Complete a transaction analysis...

Q: Explain why Unearned Revenue is a liability account.

Explain why Unearned Revenue is a liability account.

Q: At the end of September, Thad took a complete inventory of

At the end of September, Thad took a complete inventory of his supplies and found the following: 3 dozen 1/4" screws at a cost of $5.00 a dozen 6 dozen 1/2" screws at a cost of $10.00 a dozen 5 cart...

Q: List the three important dates that are associated with the dividend process

List the three important dates that are associated with the dividend process.

Q: Why is no journal entry needed at the date of record?

Why is no journal entry needed at the date of record?

Q: Explain some possible reasons a company may declare a stock dividend instead

Explain some possible reasons a company may declare a stock dividend instead of a cash dividend.