Solved

Match the Following Terms with the Descriptions and Definitions Below

Question 122

Matching

Match the following terms with the descriptions and definitions below.

Premises:

Responses:

Account used to record the declaration of a stock dividend.

Stock Dividend Distributable

Account used to record the excess of the reissue price of treasury stock over the initial cost of the treasury stock.

Discount on Notes Payable

The account used to record the difference between the issue price of stock and its legal minimum price.

Paid-in-Capital in Excess of Par

Account used to record the difference between the face value and proceeds when the market rate of interest is less than the face rate of interest.

Paid-in-Capital from Treasury Stock Transactions

Account used to record the difference between the face value and proceeds when the market rate of interest is greater than the face rate of interest.

Premium on Bonds Payable

Premises:

Account used to record the declaration of a stock dividend.

Account used to record the excess of the reissue price of treasury stock over the initial cost of the treasury stock.

The account used to record the difference between the issue price of stock and its legal minimum price.

Account used to record the difference between the face value and proceeds when the market rate of interest is less than the face rate of interest.

Account used to record the difference between the face value and proceeds when the market rate of interest is greater than the face rate of interest.

Responses:

Stock Dividend Distributable

Discount on Notes Payable

Paid-in-Capital in Excess of Par

Paid-in-Capital from Treasury Stock Transactions

Premium on Bonds Payable

Correct Answer:

Premises:

Responses:

Account used to record the declaration of a stock dividend.

Account used to record the excess of the reissue price of treasury stock over the initial cost of the treasury stock.

The account used to record the difference between the issue price of stock and its legal minimum price.

Account used to record the difference between the face value and proceeds when the market rate of interest is less than the face rate of interest.

Account used to record the difference between the face value and proceeds when the market rate of interest is greater than the face rate of interest.

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