A corporation is a separate legal entity that can have from one to many owners. It has many characteristics, including no personal liability to the shareholders, and it can raise money by issuing stock.
Prior to beginning work on this discussion, read Chapter 13 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).
Write: Make sure your response addressing the prompt is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.
A corporation is a separate legal entity that can have from one to many owners. It has many characteristics, including no personal liability to the shareholders, and it can raise money by issuing stock. Stockholders also have rights such as voting and the receipt of dividends.
When issuing stock, the journal entries can be different if the stock is issued at a premium, a discount, or at par. Common stock generally has a par value or a stated value, but may not have either. Common stock can also be traded for other assets, such as land. The company has the right to purchase its own stock in the open market.
Discuss the following in your post:
What is treasury stock and what is the journal when purchased?
What are the journal entries when the treasury stock is sold?
What are the three dates and the journal entries for recording cash dividends?
Explain the two methods and journal entries for recording stock dividends and the journal entries required for a stock split.
DQ2 Long-Term Liabilities [WLOs: 3, 4] [CLO: 1]
Prior to beginning work on this discussion, read Chapter 14 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).
Write: Make sure your response addressing the prompt is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.
Long-term liabilities are liabilities that do not have to be paid in the current year. Long-term liabilities can be a long-term note or a mortgage and can also be created when the company issues bonds.
What are the various types of bonds and their characteristics?
Discuss and provide examples of bonds being issued at par, at a discount, and at a premium.
Explain the two methods to amortize the bond premium and discount.
Give example journal entries for the two different amortization methods.
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