# Shared Flashcard Set

## Details

ACC 802 - 15
Intermediate Accounting
15
Accounting
09/26/2015

Term
 How to record the issuance of a bond (
Definition
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 What are the key differences are between common stock and preferred stock.
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 How to compute a preferred stock dividend
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 What par value represents and how to account for it (same for stated value); what does it mean for stock to be “no-par”?  How does this affect your entries?
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 How to issue stock (computation and entry)
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 How to account for lump sum sales methods: (proportional)
Definition
 How to account for lump sales: 1. Multiply shares x Par Value for both preferred and common stock.2. Multiply Fair Market Value for both preferred sand common stock and add them together.3. Divided the total of the FMV shares of common stock and divide them by total of both common and preferred stock together. 4. Multiply the result by the lump sales number5. Do steps 3 and 4 preferred stock. 6. Add the result of step 4 and 5 to get a number equal to the lump sales number.7. Debit cash and credit common stock par.a. Subtract common stock par from the number in step 4.b. Do the same for preferred stock.8. Everything should add up to the same number as debit of cash.
Term
 How to account for issuance of stock in a non-cash transaction
Definition
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 How to account for stock issue costs
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 How to account for treasury stock (purchase and resale; what is APIC-T/S used for after the stock is back on the market?)
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Term
 Key features of preferred stock
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Term
 How to account for the following types of dividends (including computations and entries; different techniques, account names, and valuations):o Cash dividendo Stock dividend (small vs. large?)o Property dividendo Liquidating dividend
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 The three key dates associated with dividends and the journal entries required on each o Date of declarationo Date of recordo Date of paymentdate:
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 How to account for a stock split (computations and entries)
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 Presentation, disclosure and analysis
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Term
 How to account for lump sum sales (2 methods: (incremental)
Definition
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