7. To what uses is donated surplus restricted?
8. What is bonus stock, and when may it be issued?
9. What kind of an expense does bonus stock constitute when given with an issue of bonds which would otherwise be sold at a discount?
10. When treasury stock is purchased by the issuing company at a discount, how would the transaction appear on the ledger? How if bought at a premium?
11. Contrast the redemption at a premium of a preferred stock issue, with the purchase of treasury stock at a premium.
12. What is meant by stock of no par value? Explain fully.
13. How is the issue of no par value stock handled on the books?
14. Name and discuss those records peculiar to the corporation.
15. Of what value to the accountant are the records kept in the minute book?
Chapter II