Chapter_12_Student_Spring_2011

Chapter_12_Student_Spring_2011 - Chapter 12 Corporations...

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Chapter 12-1 Corporations Chapter 12 Financial Accounting, Sixth Edition
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Chapter 12-2 An entity separate and distinct from its owners. The Corporate Form of Organization Classified by Purpose Not-for-Profit For Profit Classified by Ownership Publicly held Privately held Ø McDonald’s Ø Ford Motor Company Ø PepsiCo Ø Google Ø Salvation Army Ø American Cancer Society Ø Gates Foundation Ø Community Coffee
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Chapter 12-3 Separate Legal Existence Limited Liability of Stockholders Transferable Ownership Rights Ability to Acquire Capital Continuous Life Government Regulations Additional Taxes Corporate Management Characteristics that distinguish corporations from proprietorships and partnerships. Characteristics of a Corporation SO 1 Identify the major characteristics of a corporation. Advantages Disadvantages
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Chapter 12-4 Paid-in Capital Retained Earnings Account Paid-in Capital in Excess of Par Account Two Primary Sources of Equity Common Stock Account Preferred Stock Account Corporate Capital Paid-in capital is the total amount of cash and other assets paid in by stockholders in exchange for capital stock. SO 1 Identify the major characteristics of a corporation.
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12-5 Stock Issue Considerations SO 1 Identify the major characteristics of a corporation. Charter indicates the amount of stock that a corporation is authorized to sell. Number of authorized shares is often reported in the stockholders’ equity section.
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Chapter_12_Student_Spring_2011 - Chapter 12 Corporations...

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