The Accounting Review Vol. 11 No. 2 1936
SURPLUS ACCOUNTS OF IRON AND STEEL CORPORATIONS.
Abstract
The article explains that surplus has been defined as the amount of the net worth in excess of the par value of the capital stock outstanding. In the case of corporations with no par value stock, it is sometimes defined as the amount of the net worth in excess of the net amount realized from the sale of the stock. There are many kinds of surplus, however, because it arises from so many sources. It may be created by donations to the corporation, by earnings, by the issue or purchase of the corporation's own stock for more or less than par, and by many other transactions. Likewise the surplus may be decreased by a number of transactions, such as operating deficits, dividends, and the sale of fixed assets for less than the value at which they are carried on the books and losses on the abandonment of properties. The purpose of the present article is to show to what extent corporations, in the iron and steel industry publish information showing what entries have been made in their surplus accounts and what types of entries are made.
- DOI
- 10.2308/tar-7076363
- Volume
- 11
- Issue
- 2
- Pages
- 171-178
- Language
- en
- Sources
- openalex crossref