Question

Choose "YES" or "NO" for each of the following items to indicate whether the account is part of contributed capital.

a. Common stock [Y/N]

b. Preferred stock [Y/N]

c. Contributed capital in excess of par, common [Y/N]

d. Contributed capital in excess of par, preferred [Y/N]

e. Retained earnings [Y/N]

f. Treasury stock [Y/N]

g. Contributed capital, treasury stock [Y/N]

h. Stock dividends distributable [Y/N]

i. Dividends payable [Y/N]

Answer 1

SOLUTION:

S.no	Particulars	Contributed capital Y/N
a	Common stock	Y
b	Preferred stock	Y
c	Contributed capital in excess of par, common	Y
d	Contributed capital in excess of par, preferred	Y
e	Retained earnings	N
f	Treasury stock	Y
g	Contributed capital, treasury stock	N
h	Stock dividends distributable	Y
i	Dividends payable	N

Explanation :

Contributed capitals are :

Capital stock:

Par value of preferred stock

par value of common stock

stock warrants

stock dividends to be distributed

Additional paid in capital

on preferred stock

on Common stock &,

Treasure stock, conversions of preferred stock and stock split