CapitalStock,DividendsBusiness(公司金融会计)

C11-1LearningObjectivesPowerNotes1.NatureofaCorporation2.Stockholders’Equity3.SourcesofPaid-inCapital4.IssuingStock5.TreasuryStockTransactions6.StockSplits7.AccountingforDividends8.FinancialAnalysisandInterpretationChapterF11C11Corporations:Organization,CapitalStock,DividendsC11-2•CharacteristicsofCorporations•Stockholders’Equity•IssuingStock•TreasuryStockTransactions•StockSplitsandDividends•DividendYieldonCommonStockSlide#PowerNoteTopics31019222835Note:Toselectatopic,typetheslide#andpressEnter.PowerNotesChapterF11Corporations:Organization,CapitalStock,DividendsC11-3CharacteristicsofCorporationsAsaseparatelegalentity,acorporationmayownanddisposeofpropertyinitsownname.Thecorporationownershipisdividedintounitscalledsharesofstock.Theownersofthesharesarecalledshareholdersorstockholders.Stockholdersofacorporationhavealimitedliability.C11-4CharacteristicsofCorporationsStockholders(ownersofcorporationstock)CommonStock–thebasicownershipofstockwithrightstovoteinelectionofdirectors,shareindistributionofearnings,andpurchaseadditionalshares.PreferredStock–Aclassofstockwithpreferentialrightsovercommonstockinpaymentofdividendsandcompanyliquidation.ClassesofStockC11-5CharacteristicsofCorporationsBoardofDirectors(electedbystockholders)Stockholders(ownersofcorporationstock)C11-6CharacteristicsofCorporationsOfficers(selectedbyboardofdirectors)BoardofDirectors(electedbystockholders)Stockholders(ownersofcorporationstock)C11-7CharacteristicsofCorporationsEmployees(hiredbyofficers)Officers(selectedbyboardofdirectors)BoardofDirectors(electedbystockholders)Stockholders(ownersofcorporationstock)C11-8FormingaCorporationFirststepistofileanapplicationofincorporationwiththestate.Becausestatelawsdiffer,corporationsoftenorganizeinstateswithmorefavorablelaws.MorethanhalfofthelargestcompaniesareincorporatedinDelaware.Stategrantsacharterorarticlesofincorporationwhichformallycreatethecorporation.Managementandboardofdirectorspreparebylawswhichareoperationrulesandprocedures.C11-9DateDescriptionDebitCreditFormingaCorporationOrganizationCosts8,500Cash8,500AmortizationExpense1,700OrganizationCosts1,700$8,500costs/5years=$1,700Jan.5Paidorganizationcostsof$8,500.Amortizationoforganizationcostsover5years.Dec.31Costoforganizingincludeslegalfees,taxesandlicenses,promotioncosts,etc.Thesecostsarerecordedasanintangibleasset.C11-10Stockholders’EquityAssetsLiabilitiesStockholders’EquityStockholders’Equity=Assets–LiabilitiesRepresentsthestockholders’shareofthetotalassets.C11-11Stockholders’EquityAssetsLiabilitiesStockholders’EquityStockholders’Equity:Paid-incapital:Commonstock$330,000Retainedearnings80,000Total$410,000C11-12Stockholders’EquityAssetsLiabilitiesStockholders’EquityTherearetwosourcesofstockholders’equityStockholders’Equity:Paid-incapital:Commonstock$330,000Retainedearnings80,000Total$410,000C11-13Stockholders’EquityAssetsLiabilitiesStockholders’EquityfromstockholdersStockholders’Equity:Paid-incapital:Commonstock$330,000Retainedearnings80,000Total$410,000Therearetwosourcesofstockholders’equity1C11-14Stockholders’EquityAssetsLiabilitiesStockholders’EquityStockholders’Equity:Paid-incapital:Commonstock$330,000Retainedearnings80,000Total$410,000fromearningsTherearetwosourcesofstockholders’equity2C11-15Stockholders’EquityAssetsLiabilitiesStockholders’EquityTherearetwosourcesofstockholders’equityfromstockholdersStockholders’Equity:Paid-incapital:Commonstock$330,000Retainedearnings80,000Total$410,000fromearnings12C11-16TwoClassesofStockholdersCommonStock–Thebasicownershipofstockincludes:1.Righttovoteinelectionofdirectorsandotherimportantmatters.2.Righttoshareindistributionofearnings.3.Preemptiverighttopurchasesufficientsharesofnewcommonstockofferingstomaintainanexistingownershippercentage.PreferredStock–Aclassofstockwithpreferentialrightsovercommonstockwithrespecttopaymentofdividendsandassetsofthecorporationinliquidation.C11-17NonparticipatingPreferredStockPreferreddividend4,0004,0004,000Commondividend$6,000$31,000$18,000Dividendspershare:Preferred$4.00$4.00$4.00Common$1.50$7.75$4.50Anonparticipatingpreferredstockislimitedtoacertainamount.Assume1,000sharesof$4nonparticipatingpreferredstockand4,000sharesofcommonstockandthefollowing:200220032004Netincome$20,000$55,000$62,000Amountretained10,00020,00040,000Amountdistributed$10,000$35,000$22,000C11-18CumulativePreferredStockPreferredDividend:Firstyearinarrears$4,000Secondyearinarrears4,000Thirdyearcurrent4,00012,000Commondividend$10,000Dividendspershare:Preferred$12.00Common$2.50Assume1,000sharesof$4cumulativepreferredstockand4,000sharesofcommonstock.Nodividendshavebeenpaidintheprecedingtwoyears.Amountdistributedin3rdyear$22,000C11-19DateDescriptionDebitCreditIssuingStockCash1,500,000PreferredStock500,000CommonStock1,000,000Thestockaccountsarecontrollingaccounts.Arecordofeachstockholder’sname,address,andnumberofsharesiskeptinastockholderssubsidiaryledger.Jan.5One-halfofeachclassisissuedatparforcash.Acorporationisauthorizedtoissue10,000sharesofpreferredstock,$100par,and100,000sharesofcommonstock,$2