acctng 2 finals

The sum of a company’s earnings over a period of time after deducting dividends.

It is the total capital of the partnership after considering capital credits given to each of the partners.

• Total Contributed Capital

• Total Partnership Capital

• Total capital

• Total Agreed Capital

Shares can be issued at an amount _______________,

• equal to its par value

  
  

• higher than its par value

• lower than its par value

• either a or b

  
  

I. Date of Record II. Date of Payment III. Date of Declaration  
In relation to corporate dividends, arrange the above dates in chronological order.

• I, II, III

• II, III, I

• III, I, II

  
  

• III, II, I

This is   the   process whereby assets are realized on a piecemeal basis and cash is distributed to partners on a periodic basis as it becomes available even before all non-cash assets are realized.

This is prepared every time the partnership plan to distribute cash during an installment liquidation.

The entry to record a donation of equipment from an external donor includes ____.

• a debit to donated capital account

• a credit to donated capital account

• a debit to donated income account

  
  

• a credit to donated income account

  
  

The national government regulatory agency charged with supervision over the corporate sector.

The process of converting non-cash assets into cash.

The minimum amount of money that a company must have in order to protect its creditors.