AC 210 Lecture Notes - Lecture 29: Legal Personality, Dividend, Accounting Equation

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sangriatortoise27

20 Apr 2017

School

University of Alabama

Department

Accountancy

Course

AC 210

Professor

Lisa Mc Kinney

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Document Summary

sh. 01 par value common stock for per share: stock exchanged between. Stock options: if the company repurchases its own stock its treasury. Stock: when stock is reacquired, the corporation records the treasury stock at. Cost: the entry includes a debit to treasury stock and a credit to cash for ,250,000, the amount of the purchase. The treasury stock would be reported on the. Bala(cid:374)(cid:272)e heet i(cid:374) the to(cid:272)kholde(cid:396)s" e(cid:395)uit(cid:455) se(cid:272)tio(cid:374) as a (cid:396)edu(cid:272)tio(cid:374) f(cid:396)o(cid:373) total. Treasury stock is the original cost of per share times the 5,000 shares sold. The difference between the selling price and the cost of the treasury stock is credited to additional paid-in capital. No profit or loss is recognized on treasury stock transactions: dividends on common stock. Preferred stock usually has a stated dividend that is expressed as a percentage of its par value.

Related Questions

Match the items below by entering the appropriate answer letter choice from the column provided on the right.

	1.Net income retained in the corporation.
	2. Creditors cannot go after stockholderâs personal assets to satisfy their claims.
	3. Retained earnings currently unavailable for dividends.
	4. A corporationâs own stock that has been reacquired by the corporation.
	5. Responsible to stockholders for corporate activity.
	6. The amount assigned to each share of stock in the corporate charter.
.	7. The date the board of directors formally declares the dividend and announces it to stockholders.
	8. A debit balance in retained earnings.
	9. Capital contributed by stockholders.
	10. The death of a stockholder or employee does not affect the going concern of the corporation.
	11. The company determines ownership of the outstanding shares for dividend purposes.
	12. Unit of ownership in a corporation.
-	13. This type of dividend for the stockholder results in more shares of stock, but no change in ownership interest.
	14. The issuance of additional shares of stock to stockholders accompanied by a reduction in the par or stated value per share. This stock transaction does not require an accounting entry.
	15. The acts of the owners (stockholders) do not bind the corporation.

A.	Par value
B.	Record date
C.	Retained Earnings
D.	Indefinite life
E.	Treasury stock
F.	Stock split
G.	Declaration date
H.	Retained Earnings restrictions
I.	Stock dividend
J.	Capital stock
K.	Deficit
L.	Paid-in capital
M.	Cash dividend
N.	Board of directors
O.	Separate legal entity
P.	Limited liability

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AC 210 Lecture Notes - Lecture 29: Legal Personality, Dividend, Accounting Equation

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