ACC 291 Week 2 Discussion Question 2

Topics: Stock, Stock market, Par value Pages: 4 (688 words) Published: October 31, 2014

In the file ACC 291 Week 2 Discussion Question 2 there are right answers on the following questions: "What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements? What does your Annual Report say about unearned revenue?"

Business - Accounting
ACC 291 All Week 4 Assignments - Individual WileyPlus Assignment

Includes:

Week 4 Chapter 13 practice quiz 1

Week 4 Chapter 14 Practice quiz 1

Week 4 reflection summary

Week 4 Discussion questions 1 and 2

Week 4 Individual WileyPlus assignment as described below:

Exercise Do It! 11-1

Indicate whether each of the following statements is true or false

Exercise E11-15

On October 31, the stockholders' equity section of Omar Company consists of common stock $600,000 and retained earnings $900,000. Omar is considering the following two courses of action: (1) declaring a 5% stock dividend on the 60,000, $10 par value shares outstanding, or (2) effecting a 2-for-1 stock split that will reduce par value to $5 per share. The current market price is $14 per share.

Complete the tabular summary of the effects of the alternative actions on the components of stockholders' equity and outstanding shares.  (If answer is zero, please enter 0. Do not leave any fields blank.)

Exercise E11-16

Before preparing financial statements for the current year, the chief accountant for Springer Company discovered the following errors in the accounts

1. The declaration and payment of $50,000 cash dividend was recorded as a debit to Interest Expense $50,000 and a credit to Cash $50,000

2. A 10% stock dividend (1,000 shares) was declared on the $10 par value stock when the market value per share was $16. The only entry made was: Retained Earnings (Dr.) $10,000 and Dividend Pa...

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