Study Questions for Chapter 13 - Part 1

Study Questions for Chapter 13 - Part 1 - How do they...

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Study Questions, Chapter 13 Part 1 1. In the last chapter you described the difference between a partnership and a proprietorship. Chapter 13 introduces corporations. In your own words, describe how corporations are a different animal than either proprietorships or partnerships (P 575 – 576). Do not focus on public vs. private, but rather on how, in law, corporations are different. 2. Describe how the Stockholder’s Equity section of the Corporate balance sheet differ from the Owner Equity section for a partnership or proprietorship. 3. What are the two main sources of Stockholder’s Equity?
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Unformatted text preview: How do they differ? Describe where they come from. (p 578) 4. Pages 579 through 584 illustrate several variations of a particular transaction. What is this transaction (not the variations, just the basic underlying transaction)? Who are the parties involved? How do the parties in this transaction benefit from entering into it? How does this transaction relate to your answer to question 3 above? Are there any risks associated with this transaction for either party? How does this transaction affect Assets, Liabilities, Stockholders Equity, Revenue and Expense?...
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