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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This note was uploaded on 06/20/2011 for the course ACT ACT 2292 taught by Professor Amyhulsey during the Fall '09 term at Troy.

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