Chapter_15 - CHAPTER 15 Corporations Dividends Retained Earnings and Income Reporting ASSIGNMENT CLASSIFICATION TABLE Study Objectives 1 Prepare

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15-1 CHAPTER 15 Corporations: Dividends, Retained Earnings, and Income Reporting ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems 1. Prepare the entries for cash dividends and stock dividends. 1, 2, 3, 4, 5, 6, 7, 8 1, 2, 3 1, 2, 3, 4, 5, 6, 7 1A, 2A, 3A, 4A, 5A 1B, 2B, 3B, 4B, 5B 2. Identify the items that are reported in a re- tained earnings statement. 9, 10, 11, 12, 13, 14 4, 5 6, 8 2A, 3A, 4A 2B, 3B, 4B 3. Prepare and analyze a comprehensive stockhold- ers’ equity section. 14, 15 6, 7 5, 6, 9, 11, 12 1A, 2A, 3A, 4A, 5A 1B, 2B, 3B, 4B, 5B 4. Describe the form and content of corporation income statements. 15, 16 8 10 5. Compute earnings per share. 17 9, 10 10, 11, 12, 13 3A 3B
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15-2 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1A Prepare dividend entries and stockholders’ equity section. Simple 30-40 2A Journalize and post transactions, and prepare retained earnings statement and stockholders’ equity section. Moderate 30-40 3A Prepare retained earnings statement and stockholders’ equity section, and compute earnings per share. Moderate 30-40 4A Prepare the stockholders’ equity section, reflecting divi- dends and stock split. Moderate 20-30 5A Prepare the stockholders’ equity section, reflecting various events. Moderate 20-30 1B Prepare dividend entries and stockholders’ equity section. Simple 30-40 2B Journalize and post transactions, and prepare retained earnings statement and stockholders’ equity section. Moderate 30-40 3B Prepare retained earnings statement and stockholders’ equity section, and compute earnings per share. Moderate 30-40 4B Prepare the stockholders’ equity section, reflecting divi- dends and stock split. Moderate 20-30 5B Prepare the stockholders’ equity section, reflecting various events. Moderate 20-30
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15-3 BLOOM’S TAXONOMY TABLE
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15-4 ANSWERS TO QUESTIONS 1 . ( a ) A di v i d e n d is a di s t r i b u t i o n of ea r n i n g s by a co r p o r a t i o n t o it s st o c k h o l d e r s on a pr o r a t a ( p r o p o r t i o n a l ) ba s i s . (b) Disagree. Dividends may take four forms: cash, property, scrip (promissory note to pay cash), or (capital) stock. 2. Lil Carmen is not correct. Adequate cash is only one of the conditions. In order for a cash dividend to occur, a corporation must also have retained earnings and the dividend must be declared by the board of directors. 3. (a) The three dates are: Declaration date is the date when the board of directors formally declares the cash dividend and announces it to stockholders. The declaration commits the corporation to a binding legal obligation that cannot be rescinded. Record date is the date that marks the time when ownership of the outstanding shares is determined from the stockholder records maintained by the corporation. The purpose of this date is to identify the persons or entities that will receive the dividend.
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This note was uploaded on 11/25/2010 for the course ACCT 212 taught by Professor Luna during the Spring '09 term at DeAnza College.

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Chapter_15 - CHAPTER 15 Corporations Dividends Retained Earnings and Income Reporting ASSIGNMENT CLASSIFICATION TABLE Study Objectives 1 Prepare

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