WGU C249 Intermediate Accounting Bundled Exam with complete solution

GAAP - Uses the term "Other Comprehensive Income" of other equity transactions IFRS - Uses the term "Reserve" for other equity transactions GAAP - Common Stock IFRS - Share-Capital - ordinary GAAP - Additional Paid-In Capital IFRS - Share Premium GAAP - Statement of Stockholders' Equity ...

Antidilutive Securities - Securities, which upon conversion or exercise, increase earnings per share, or reduce the loss per share. Companies with complex capital structures will not report diluted EPS if the securities in their capital structure are antidilutive; they will report only the basic E...

Alternative Minimum Tax - AMT - Designed by the IRS to curb excessive tax avoidance, this provision allows companies to compute their potential tax liability under the AMT, adjusting for various preference items that reduce their tax bills under the regular tax code, e.g., accelerated depreciation...

What are two descriptions of preemptive Stock Rights - 1. A privilege often referred to as a warrant 2. A means of protecting stockholders from involuntary dilution of ownership A corporation issues 1,000 shares of $10 par value common stock for $12,000. Paid Issuance costs are $500. How should ...

Pre-Emptive Right - Protects an existing stockholder from involuntary dilution of ownership interest. (Pg 823) Common Stock - The residual corporate interest that bears the ultimate risks of loss and receives the benefits of success. (Pg 824) Contributed (paid-in) Capital - The total amount prov...