mba会计教材chap11~1.ppt

,Chapter11,Stockholders?Equity:Paid-inCapital,Corporations,Existenceisseparatefromowners.,Anentitycreatedbylaw.,Hasrightsandprivileges.,Privately,orClosely,Held,PubliclyHeld,Ownershipcanbe,WhyBusinessesIncorporate,Stockholdershavenopersonalliability.,Privately,orCloselyHeld,PubliclyHeld,Transferabilityofownership.,Professionalmanagement.,Continuityofexistence.,Disclosefinancialinformation.FinancialstatementspreparedinaccordancewithGAAP.CPAsmustauditthefinancialstatements.Mustcomplywithfederalsecuritieslaws.MustsubmitfinancialinformationforSECreview.,PubliclyOwnedCorporationsfaceDifferentRules,RightsofStockholders,Stockholders,Rights,RightsofStockholders,RightsofStockholders,Stockholderledgersareoftenmaintainedbyastocktransferagentorstockregistrar.,Eachunitofownershipiscalledashareofstock.Astockcertificateservesasproofthatastockholderhaspurchasedshares.,RightsofStockholders,Whenthestockissold,thestockholdersignsatransferendorsementonthebackofthestockcertificate.,RightsofStockholders,FunctionsoftheBoardofDirectors,Overallresponsibilityformanagingthecompany.,Selectedbyavoteofthestockholders,FunctionsoftheCorporateOfficers,ChiefAccountant,Contractualandlegalrepresentation,Custodianoffunds,AuthorizationandIssuanceofCapitalStock,Themaximumnumberofsharesofcapitalstockthatcanbesoldtothepublic.,AuthorizedShares,AuthorizedShares,Issuedsharesareauthorizedsharesofstockthathavebeensold.,Unissuedsharesareauthorizedsharesofstockthatneverhavebeensold.,Usuallysharesaresoldthroughanunderwriter.,AuthorizationandIssuanceofCapitalStock,UnissuedShares,TreasuryShares,OutstandingShares,Treasurysharesareissuedsharesthathavebeenreacquiredbythecorporation.,IssuedShares,Outstandingsharesareissuedsharesthatareownedbystockholders.,AuthorizedShares,AuthorizationandIssuanceofCapitalStock,Paid-InCapitalofaCorporation,Parvalueisanarbitraryamountassignedtoeachshareofstockwhenitisauthorized.,Marketpriceistheamountthateachshareofstockwillsellforinthemarket.,Stockholders?Equity,Commonstockcanbeissuedinthreeforms:,No-ParCommonStock,ParValueCommonStock,StatedValueCommonStock,Let抯examinethisformofstock.,Stockholders?Equity,IssuanceofParValueStock,Preparethejournalentrytorecordanissuanceof10,000sharesof$2parvaluestockfor$25persharewhichoccurredonSeptember1,1999.,Record:Thecashreceived.Thenumberofsharesissued?theparvaluepershareintheCommonStockaccount.TheremainderisassignedtoContributedCapitalinExcessofPar.,IssuanceofParValueStock,Thejournalentrytorecordanissuanceof10,000sharesof$2parvaluestockfor$25pershareonSeptember1,1999shouldincludeacredittocommonstockfortheparvalueofthesharesissued.,IssuanceofParValueStock,Commonstockcanbeissuedinthreeforms:,No-ParCommonStock,ParValueCommonStock,StatedValueCommonStock,Stockholders?Equity,AllproceedscreditedtoCommonStock,Treatedlikeparvaluecommonstock,PreferredStock,Aseparateclassofstock,typicallyhavingpriorityovercommonsharesin.Dividenddistributions.Distributionofassetsincaseofliquidation.,CumulativePreferredStock,Dividendsinarrearsmustbepaidbeforedividendsmaybepaidoncommonstock.,Undeclareddividendsfromcurrentandprioryearsdonothavetobepaidinfutureyears.,StockPreferredastoDividends,Example:ConsiderthefollowingpartialStatementofStockholders?Equity.,During1999,thedirectorsdeclarecashdividendsof$5,000.Inyear2000,thedirectorsdeclarecashdividendsof$42,000.,StockPreferredastoDividends,ConvertiblePreferredStock,Ijustconverted100sharesofpreferredstockinto1,000sharesofcommonstockandendedupwithahigherdividendyield!,Gee,Icanntdothatwithmypreferredstock.,Somepreferredstockisconvertibleintosharesofcommonstock.,PreferredStock,StockIssuedforAssetsOtherThanCash,Companiessometimesissuestockinexchangefornon-cashassets.,Recordthetransactionatthemarketvalueofthegoodsorservicesreceived.,Ilovethisstuff!Canwedosomemore?,MarketValue,Accountingbytheissuer.,Accountingbytheinvester.,Commonstockiscarriedatoriginalissueprice.,Investmentsinmarketablesecuritiesarecarriedatmarketvalue.,MarketPriceofPreferredStock,Factorsaffectingmarketpriceofpreferredstock:DividendrateRiskLevelofinterestrates,Thereturnbasedonthemarketvalueiscalledthe揹ividendyield?,MarketPriceofCommonStock,Factorsaffectingmarketpriceofcommonstock:Investors?expectationsoffutureprofitability.Riskthatthislevelofprofitabilitywillnotbeachieved.,Changesinmarketvaluehavenoimpactonthebooksoftheissuer.,StockSplits,Companiesusestocksplitstoreducemarketprice.Outstandingsharesincrease,butparvalueisdecreasedproportionately.,IceCreamParlor,BananaSplitsOnSaleNow,StockSplitsExample,Assumethatacorporationhad5,000sharesof$1parvaluecommonstockoutstandingbeforea2杅or?stocksplit.,Assumethatacorporationhad5,000sharesof$1parvaluecommonstockoutstandingbeforea2杅or?stocksplit.,Increase,Decrease,NoChange,StockSplitsExample,UnissuedShares,TreasuryShares,OutstandingShares,Treasurysharesareissuedsharesthathavebeenreacquiredbythecorporation.,IssuedShares,AuthorizedShares,TreasuryStock,TreasuryStock,Whenstockisreacquired,thecorporationrecordsthetreasurystockatcost.,OnMay1,1998EastCorp.reacquired3,000sharesofitscommonstockat$55pershare.PreparethejournalentryforMay1.,TreasuryStockExample,OnMay1,1998EastCorp.reacquired3,000sharesofitscommonstockat$55pershare.PreparethejournalentryforMay1.,TreasuryStockExample,TreasuryStockExample,OnDecember3,1999EastCorp.reissued1,000sharesofthestockat$75pershare.Prepareth