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Shareholders' Equity Reconciliation Procedures
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Shareholders' Equity Reconciliation Procedures

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Questions and Answers

What is a recommended procedure to reconcile shareholders' equity accounts with general ledger balances?

  • Inspect certificates of shares held in treasury
  • Review authorizations and terms of share issues
  • Confirm shares outstanding with registrar on share and transfer agent
  • Inspect share certificate book (correct)

    • Which task involves checking the validity of the number of shares issued?

  • Inspect certificates of shares held in treasury
  • Confirm shares outstanding with registrar on share and transfer agent (correct)
  • Review authorizations and terms of share issues
  • Inspect share certificate book

    • What should be done to verify the physical existence of shares held by the company?

  • Inspect share certificate book
  • Review authorizations and terms of share issues
  • Inspect certificates of shares held in treasury (correct)
  • Confirm shares outstanding with registrar on share and transfer agent

    • Which action helps in ensuring the accuracy of shareholders' equity accounts in relation to the general ledger?

    <p>Inspect share certificate book</p> Signup and view all the answers

    What task involves verifying the legality and terms of the issuance of shares?

    <p>Review authorizations and terms of share issues</p> Signup and view all the answers

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