41. Organizational costs are capitalized by debiting an intangible asset entitled Organization Costs. 42. The cash proceeds from issuing par value stock may be equal to or greater than, but not...

41. Organizational costs are capitalized by debiting an intangible asset entitled Organization Costs.

42. The cash proceeds from issuing par value stock may be equal to or greater than, but not less than par value.

43. The cost of a noncash asset acquired in exchange for common stock should be either the fair market value of the consideration given up or the consideration received, whichever is more clearly determinable.

44. Under the cost method, Treasury Stock is debited at the price paid to reacquire the shares, and the same amount is credited to Treasury Stock when the shares are sold.

45. A dividend based on paid-in capital is termed a liquidating dividend.

46. Common Stock Dividends Distributable is reported as additional paid-in capital in the stockholders' equity section.

47. A prior period adjustment is reported as an adjustment of the beginning balance of Retained Earnings.