Week 3 Individual Assignments
ACC/400
Chapter 10 1. Georgia Lazenby believes a current liability is a debt that can be expected to be paid in one year. Is Georgia correct? Explain.
Yes Georgia is correct because a current liability is a short-term liability that is to be paid within the accounting cycle which is one year or less.
7. (a) What are long-term liabilities? Give two examples
Long term liabilities are company obligations that extend beyond the current year, or alternately, beyond the current operating cycle. Examples are debentures and loans.
(b) What is a bond? – It is a form of interest-bearing note payable issued by corporations, universities, and governmental agencies.
8. (a) …show more content…
However, the retained earnings account loses its worth while the common stock account and additional paid-in capital account see their amounts increase.
Which would you rather receive as a stockholder—a cash dividend or a stock dividend? Why? As a stockholder I would rather receive a cash dividend instead of stock dividend because cash dividends are beneficial, however in that they provide shareholders with regular income on their investment along with exposure to capital appreciation. They are the surest way to build wealth.
Ch. 11: Internet Assignment 11-1
Answer the following questions:
a. Does the company report preferred stock in its balance sheet? If so, how many shares are currently outstanding? They don’t report preferred stock in the balance sheet.
b. How much common stock does the company report in its most recent balance sheet? What is the par value of each? The company reports 553 common stocks in its most recent balance sheet.
c. Does the company report any treasury stock? Has this amount changed since the previous year? Yes the company reports treasury stock and the amount has changed since the previous year. In Jan2012 it reported (4,416,018) and in Jan 2011 it reported
ACC/400
Chapter 10 1. Georgia Lazenby believes a current liability is a debt that can be expected to be paid in one year. Is Georgia correct? Explain.
Yes Georgia is correct because a current liability is a short-term liability that is to be paid within the accounting cycle which is one year or less.
7. (a) What are long-term liabilities? Give two examples
Long term liabilities are company obligations that extend beyond the current year, or alternately, beyond the current operating cycle. Examples are debentures and loans.
(b) What is a bond? – It is a form of interest-bearing note payable issued by corporations, universities, and governmental agencies.
8. (a) …show more content…
However, the retained earnings account loses its worth while the common stock account and additional paid-in capital account see their amounts increase.
Which would you rather receive as a stockholder—a cash dividend or a stock dividend? Why? As a stockholder I would rather receive a cash dividend instead of stock dividend because cash dividends are beneficial, however in that they provide shareholders with regular income on their investment along with exposure to capital appreciation. They are the surest way to build wealth.
Ch. 11: Internet Assignment 11-1
Answer the following questions:
a. Does the company report preferred stock in its balance sheet? If so, how many shares are currently outstanding? They don’t report preferred stock in the balance sheet.
b. How much common stock does the company report in its most recent balance sheet? What is the par value of each? The company reports 553 common stocks in its most recent balance sheet.
c. Does the company report any treasury stock? Has this amount changed since the previous year? Yes the company reports treasury stock and the amount has changed since the previous year. In Jan2012 it reported (4,416,018) and in Jan 2011 it reported