Accounting for dividends paid
[DOCX File]Statutory Accounting Principles Working Group
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The text assumes all investee dividends are declared and paid in the same reporting period. Special accounting procedures used in the application of the equity method Reporting a change to the equity method when the ability to significantly influence an investee is achieved through a series of acquisitions.
[DOCX File]Statutory Accounting Principles Working Group
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Dividends paid 2010 (Penske) (80,000) Total $900,000. Stanza's retained earnings balance as of January 1, 2010, is not included because these operations occurred prior to the purchase. Stanza's dividends were paid to Penske and therefore are excluded because they are intercompany in nature. d. Consolidated goodwill, 12/31/10
[DOC File]CHAPTER 1
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Amounts received from issuing stock are not revenues, and amounts paid out as dividends are not expenses. As a result, they are not reported on the income statement. For example, Sierra Corporation did not treat as revenue the $10,000 of cash received from issuing new stock, nor did it regard as a business expense the $500 of dividends paid.
[DOCX File]CHAPTER 1
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The capital surplus account will increase by $48 million, the value of the new common shares sold above its par value. Since the company had a net income of $9 million, and paid $2 million in dividends, the addition to retained earnings was $7 million, which will increase the …
[DOC File]Chapter 2
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Assess guidance for dividends and the impact of dividends on impairment assessments. Clarify application of SSAP No. 32 in conjunction with SSAP No. 48 and SSAP No. 97. 1 – Definition. s. SSAP No. 32 establishes statutory accounting principles for preferred stocks and includes preferred stocks that may or may not be publicly traded. Preferred ...
[DOC File]Chapter 2
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Dividends declared are charged directly to unassigned funds (surplus) on the declaration date and are carried as a liability until paid. The amount of the dividend is the cash paid if it is a cash dividend, the fair value of the assets distributed if it is property dividend, or …
[DOC File]Chapter 1 Test Bank - CPA Diary
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as of December 31, 2013. If Retained Earnings on the December 31, 2014 balance sheet is $5,000 and the company paid $3,000 of dividends during 2014, then the amount of Net Income for 2014 was which of the following? Assume all cash transactions. * Use the accounting equation to analyze (as it must balance at year-end) * a. $7,000 b. $6,000
[DOC File]BUS 302L Accounting Review Topics 1 - 5
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Roost’s net income and dividends for 2005 through 2007 was as follows: 2005 2006 2007 Net income $ 12,000 $ 15,000 $ 25,000 Dividends paid 10,000 10,000 10,000 LO3 10 Assume that Coot Incorporated used the cost method of accounting for its investment in Roost.
[DOCX File]Chapter 2: Accounting Statements and Cash Flow
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STOCK INVESTMENTS — INVESTOR ACCOUNTING AND REPORTING. Answers to Questions. 1. ... Net assets at December 31 $1,000,000 Add: Income for 1/4 year ($120,000 25%) 30,000 Less: Dividends paid March 15 (20,000) Book value at April 1 1,010,000 Interest acquired 30% 303,000 Goodwill from investment in Telly $ 40,000 2 Income from Telly for 2007 ...
How to Account for Dividends Paid: 12 Steps (with Pictures)
Dividends paid by a business are paid out of after-tax income. Interest earned, whether by a business or individual, is taxable income and subject to standard income taxes, except for some state and local government debt interest.
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