Common Stock
Preferred & Treasury Stock
Corporations
Bonds
Accounting Basics
100
Common stock must be authorized by this group.
Who are the "Board of Directors"?
100
Preferred Stock that pays you dividends in "arrears"
What is "Cumulative Preferred Stock"
100
Expenses for setting up a corporation are deductible on taxes and are called
What are "organizational expenses"
100
Bonds issued by cities or states to raise money for projects are known as.
What are Municipal or 'Muni' Bonds?
100
Net Income for a Corporation is referred to as
What are "Retained Earnings" ?
200
The price a corporation determines for its common stock is called
What is "Par Value" or "Stated Value"
200
Issued shares of common stock that are reacquired by the company
What is "Treasury Stock"
200
The owners of a corporation are know as
What are 'Stockholders' or 'Shareholders'?
200
The rate printed on the bond certificate.
What is the "contract rate" or 'Coupon rate"?
200
Name a contra asset account?
What is "accumulated depreciation"?
300
The monetary value of each share of common stock as outlined in the company charter is know as....
What is "Par Value" or "Stated Value"?
300
Companies repurchase shares of common stock to boost the price of the stock, to sell to employees and
What is "give them to employees as bonuses"? ESOP?
300
The corporation had 100,000 shares of $100 Common Stock and it now has 400,000 shares of $25 Common Stock. How did this happen?
What is a "4-1 Stock Split"
300
The legal contract between bond issuer and bond holder.
What is "indenture"?
300
The report that displays inflows and outflows of cash in a company.
What is the "Statement of Cash Flows"
400
Company earnings shared with the stockholders
What are "dividends" or "retained earnings".
400
The date that a share of stock must be owned to receive current dividends .
What is the "date of record"?
400
The owners equity section of the balance sheet for a corporation is called...
What is "Stockholders Equity Section"?
400
Allows the bond issuer to redeem bonds before the maturity date.
What is a "callable bond"?
400
The Four Components of Owners Equity
What are Capital, Draws, Revenue and Expenses
500
The corporation issued 2500 shares of common stock for $45,000 and the Par Value of the Stock is $10, the journal entry to record this would be...
What is $45,000 Debit to Cash $25000 Credit to Common Stock $20000 Credit to Paid in Capital in Excess of Par
500
The date when dividends are actually distributed to stockholders
What is the "payment date" or 'Date of payment"?
500
A "closely" held corporation with less than 100 shareholders.
What is an "S-Corporation"?
500
Allows a bond holder to exchange the bond for for shares of stock.
What is a "convertible bond"?
500
At the end of the fiscal year, expenses, revenue, draws are moved to a holding account known as the income summary. Then the income summary is moved to owners capital. This process is called...
What is "closing entries" or "dumping the cups"?
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