Chapter 13 study guide

Chapter 13 study guide - increase/decrease) Know date of...

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STUDY GUIDE Chapter 13 Definitions: Deficit authorized shares outstanding shares stock split Par value Advantages and disadvantages of corporate form. (Exhibit 2 is great recap) Rights of common stockholders - main difference in common vs. preferred stock Calculate the amount of preferred dividends. For example, 1,000 shares of 5%, $100 Par value would be 1,000x.05 x $100 = $5000 of preferred dividends. Know difference in CUMULATIVE and Non-Cumulative preferred dividends. Rules for non cash exchanges of stock (how to value) Where is treasury stock shown on balance sheet? (asset, liab, equity – dr/cr –
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Unformatted text preview: increase/decrease) Know date of record, date of payment, date of declaration. Know which date liability is recorded. Know JOURNAL ENTRY when dividend is DECLARED. Treasury stock basics what is it? Are dividends paid on it? Who own it? Etc. What is included in stockholders equity? Retained earnings? Upon liquidation of a corporate entity - who gets paid first? Illustrative Problem on page 598 is a good study tool. Problems Calculate dividends per share Journal entries for basic treasury stock, common stock and preferred stock transactions. LOTS of Journal Entries!!!...
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