Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Thank you for the help! i just need help determing which of the technical terms correspond to each lettered sentence, if they do not correspond

image text in transcribed
image text in transcribed
Thank you for the help!
i just need help determing which of the technical terms correspond to each lettered sentence, if they do not correspond it get wrote as "none". thank you
The following are 10 technical accounting terms introduced or emphasized in Chapters 11 and 12. Ple ratio Treasury stock Discontinued operations Stock dividend Unusual or infrequent item Prior period adjustment Basic earnings per share Additional paid-in capital Diluted earnings per share Comprehensive income Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the term described, or answer "None" if the statement does not correctly describe any of the terms. a. A loss from tornado damage in a location where tornadoes are extremely rare. b. The asset represented by shares of capital stock that have not yet been issued. c. A distribution of additional shares of stock that reduces retained earnings but causes no change in total stockholders' equity. d. The amount received when stock is sold in excess of par value. e. An adjustment to the beginning balance of retained earnings to correct an error f. A figure expressing a relationship between the current market value of a share of common stock and the underlying earnings per share. g. A separate section sometimes included in an income statement as a way to help investors evaluate the profitability of ongoing business activities. h. A figure indicating what earnings per share would have been if all page 547 securities convertible into common stock had been converted at the beginning of the current year. i. A broadly defined measure of financial performance that includes, but is not limited to, net income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions