Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
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Question
Chapter 13, Problem 1E
To determine
Match the characteristics of the corporation with the description.
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Students have asked these similar questions
Match each corporate characteristic 1 through 8 with the description that best relates to it.
Characteristic
Descriptions
1. Transferability of ownership
2. Ability to raise large capital amounts
3. Duration of life
4. Legal status
Entity with similar rights as individual
5. Ease of formation
High because buying stock is attractive
6. Government regulation
Indefinite
7. Mutual agency
More severe than partnerships and proprietorships
8. Owner authority and control
TT TT O
Next to the following list of eight characteristics of business organizations, select a brief description of how each characteristic applies
to corporations.
Characteristic
1. Ease of formation
2 Owner liability
3. Tax status of income
4. Duration of life
5. Government regulation
6. Owner authority and control
7. Owner liability
8. Ability to raise large capital amounts
Descriptions
please answer correct in detail
Identify each of the following characteristics as being an advantage or a disadvantage of the corporate form of business or not applicable to the corporate form of business organization.
7. Ability to acquire capital
8. Ease of transfer of ownership
Chapter 13 Solutions
Principles of Financial Accounting.
Ch. 13 - A corporation issues 6,000 shares of 5 par value...Ch. 13 - A company reports net income of 75,000. Its...Ch. 13 - A company has 5,000 shares of 100 par preferred...Ch. 13 - A company paid cash dividends of 0.81 per share....Ch. 13 - Prob. 5MCQCh. 13 - What are organization expenses? Provide examples.Ch. 13 - How are organization expenses reported?Ch. 13 - Prob. 3DQCh. 13 - What is the difference between authorized shares...Ch. 13 - Prob. 5DQ
Ch. 13 - List the general rights of common stockholders.Ch. 13 - What is the difference between the market value...Ch. 13 - Identify and explain the importance of the three...Ch. 13 - Prob. 9DQCh. 13 - How does declaring a stock dividend affect the...Ch. 13 - What is the difference between a stock dividend...Ch. 13 - Prob. 12DQCh. 13 - Prob. 13DQCh. 13 - How is book value per share computed for a...Ch. 13 - Prob. 15DQCh. 13 - Prob. 16DQCh. 13 - Prob. 17DQCh. 13 - Prob. 1QSCh. 13 - Issuance of common stock Prepare the journal entry...Ch. 13 - Issuance of par and stated value common stock...Ch. 13 - Issuance of no-par common stock Prepare the...Ch. 13 - Prob. 5QSCh. 13 - Accounting for cash dividends Prepare journal...Ch. 13 - Prob. 7QSCh. 13 - Accounting for small stock dividend The...Ch. 13 - Prob. 9QSCh. 13 - Accounting for dividends For each of the following...Ch. 13 - Preferred stock issuance and dividends 1. Prepare...Ch. 13 - Dividend allocation between classes of...Ch. 13 - Prob. 13QSCh. 13 - Prob. 14QSCh. 13 - Purchase and sale of treasury stock On May 3,...Ch. 13 - Prob. 16QSCh. 13 - Prob. 17QSCh. 13 - For each situation, identify whether it is treated...Ch. 13 - Prob. 19QSCh. 13 - Basic earnings per share Murray Company reports...Ch. 13 - Epic Company earned net income of 900,000 this...Ch. 13 - Price-earnings ratio Compute Topp Companys...Ch. 13 - Prob. 23QSCh. 13 - Book value per common share The stockholders...Ch. 13 - Prob. 1ECh. 13 - Prob. 2ECh. 13 - Accounting for par, stated, and no-par stock...Ch. 13 - Recording stock issuances Prepare journal entries...Ch. 13 - Stock issuance for noncash assets Sudoku Company...Ch. 13 - On June 30, Sharper Corporations stockholders...Ch. 13 - Prob. 7ECh. 13 - The stockholders equity section of TVX Company on...Ch. 13 - Prob. 9ECh. 13 - Yorks outstanding stock consists of 80,000 shares...Ch. 13 - Prob. 11ECh. 13 - Prob. 12ECh. 13 - In Draco Corporations first year of business, the...Ch. 13 - Prob. 14ECh. 13 - Prob. 15ECh. 13 - Prob. 16ECh. 13 - Prob. 17ECh. 13 - Price-earnings ratio computation and...Ch. 13 - Prob. 19ECh. 13 - The equity section of Cyril Corporations balance...Ch. 13 - Prob. 21ECh. 13 - Stockholders equity transactions and analysis...Ch. 13 - Prob. 2APCh. 13 - Prob. 3APCh. 13 - The equity sections for Atticus Group at the...Ch. 13 - Prob. 5APCh. 13 - Stockholders equity transactions and analysis...Ch. 13 - Balthus Corp. reports the following components of...Ch. 13 - Prob. 3BPCh. 13 - Prob. 4BPCh. 13 - Prob. 5BPCh. 13 - Santana Rey created Business Solutions on October...Ch. 13 - Prob. 1AACh. 13 - Use the following comparative figures for Apple...Ch. 13 - Prob. 3AACh. 13 - Prob. 1BTNCh. 13 - Access the March 1, 2017, fi ling of the 2016...Ch. 13 - Prob. 5BTN
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- MULTIPLE CHOICE 6. Which of the following best represents the accounting equation for a corporation? a. Assets = Liabilities + Paid-In Capital b. Asset Liabilities + Treasury Stock c. Assets = Liabilities + Retained Earnings d. Assets Liabilities + Stockholders' Equity = =arrow_forwardIdentify which of the following are known as the owners of corporations. a. Shareholders b. Employees c. Owners d. Partnersarrow_forwardIdentify each of the following characteristics as being an advantage, a disadvantage, or not applicable to the corporate form of business organization. 1. Separate legal entity 2. Taxable entity resulting in additional taxes 3. Continuous life 4. Unlimited liability of owners 5. Government regulation 6. Separation of ownership and management 7. Ability to acquire capital 8. Ease of transfer of ownershiparrow_forward
- Which of the following characteristics distinguish a corporation from other forms of businesses? I. Centralization of management II. Continuity of life III. Free transferability of ownership interests IV. Limited liability V. Profit motive Oa. Statements I, II, IV, and V are correct. Ob. Statements IV and V are correct. Oc. Statements I, II, III, and IV are correct., Od. All are distinguishing characteristics. Oe. Only statement III is correct.arrow_forwardQuestion 2 By definition, which of the following represents the owners of a corporation? Your answer: O Customers O Creditors O Stockholders O Employeesarrow_forward8. Which of the following types of assets are intangible? A. production machineryB. office equipmentC. factoriesD. trademarks 9. The choice of the proper mixture of debt and equity, used to finance a corporation, is also referred to as the A. capital budgeting decision.B. capital structure decision.C. investment decision.D. liquidity decision. 10. As a legal entity, a corporation can perform the following functions EXCEPT: A. vote.B. borrow money, lend money, sue and be sued, and vote.C. borrow money and lend money.D. borrow money, lend money, and sue and be sued.arrow_forward
- Exercise 11-1 (Algo) Characteristics of corporations LO C1 Match each corporate characteristic 1 through 8 with the description that best relates to it. Characteristic 1. Tax status of income 2. Transferability of ownership 3. Ease of formation 4. Ability to raise large capital amounts 5. Government regulation 6. Duration of life. 7. Mutual agency 8. Legal status Descriptionsarrow_forwardThe total owners' equity is usually under a number of subcaptions on the corporations balance sheet. a. List the major subdivision of the stockholders' equity section of a corporate balance sheet and describe briefly the nature of the amounts that will appear in each section. b. Explain fully the reasons for subdividing the amount of stockholders equity, including legal. accounting, and other considerations. c. Describe three kinds of transactions that will result in paid-in or permanent capital in excess of legal or stated capital.arrow_forwardQ: Compare the characteristics of organizational and legal forms of enterprises: Criteria The organizational and legal form Individual entrepreneur Economic partnership (LLC) Economic society (JSC) Simplicity of the creation Control over the activities Liability of the owners Investment Liquidity* Period of existencearrow_forward
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