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MTSU / Accounting / ACTG 2120 / Is corporate a form of business organization?

Is corporate a form of business organization?

Is corporate a form of business organization?

Description

School: Middle Tennessee State University
Department: Accounting
Course: Principles of Accounting II
Professor: Tba
Term: Summer 2015
Tags: Accounting
Cost: 50
Name: ACTG 2120, Exam 1 Study Guide
Description: Covers main points of chapters 13 and 14.
Uploaded: 09/14/2017
4 Pages 72 Views 1 Unlocks
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"}ul.lst-kix_lozmllmuwxpx-6{list-style-type:none}ul.lst-kix_lozmllmuwxpx-7{list-style-type:none}ul.lst-kix_lozmllmuwxpx-4{list-style-type:none}ul.lst-kix_lozmllmuwxpx-5{list-style-type:none}.lst-kix_93mwg8ipp5fd-4 > li:before{content:"○ "}ul.lst-kix_lozmllmuwxpx-2{list-style-type:none}.lst-kix_9rubihep9ifp-8 > li:before{content:"■ "}ul.lst-kix_lozmllmuwxpx-3{list-style-type:none}.lst-kix_93mwg8ipp5fd-7 > li:before{content:"○ "}ul.lst-kix_lozmllmuwxpx-0{list-style-type:none}ul.lst-kix_lozmllmuwxpx-1{list-style-type:none}.lst-kix_ebq9lqolwiji-8 > li:before{content:"■ "}.lst-kix_93mwg8ipp5fd-5 > li:before{content:"■ "}.lst-kix_93mwg8ipp5fd-6 > li:before{content:"● "}.lst-kix_ey27cvabrlvh-0 > li:before{content:"● "}.lst-kix_ey27cvabrlvh-2 > li:before{content:"■ "}.lst-kix_ey27cvabrlvh-1 > li:before{content:"○ "}.lst-kix_ey27cvabrlvh-7 > li:before{content:"○ "}.lst-kix_ebq9lqolwiji-3 > li:before{content:"● "}.lst-kix_ebq9lqolwiji-4 > li:before{content:"○ "}.lst-kix_1uss5az4o3ft-8 > li:before{content:"● "}.lst-kix_ey27cvabrlvh-6 > li:before{content:"● "}.lst-kix_ey27cvabrlvh-5 > li:before{content:"■ "}.lst-kix_ey27cvabrlvh-4 > li:before{content:"○ "}.lst-kix_ebq9lqolwiji-0 > li:before{content:"● "}.lst-kix_ebq9lqolwiji-1 > li:before{content:"○ "}.lst-kix_ebq9lqolwiji-2 > li:before{content:"■ "}.lst-kix_ey27cvabrlvh-3 > li:before{content:"● "}.lst-kix_1uss5az4o3ft-2 > li:before{content:"● "}.lst-kix_1uss5az4o3ft-0 > li:before{content:"● "}.lst-kix_1uss5az4o3ft-4 > li:before{content:"● "}ul.lst-kix_l9gwi0yjnuxz-2{list-style-type:none}ul.lst-kix_l9gwi0yjnuxz-1{list-style-type:none}ul.lst-kix_l9gwi0yjnuxz-0{list-style-type:none}.lst-kix_8xzsi9ginel7-0 > li:before{content:"● "}.lst-kix_8xzsi9ginel7-4 > li:before{content:"○ "}.lst-kix_1uss5az4o3ft-6 > li:before{content:"● "}ul.lst-kix_k2t2lmvxr108-5{list-style-type:none}ul.lst-kix_xtvbi3hckqa7-4{list-style-type:none}ul.lst-kix_k2t2lmvxr108-4{list-style-type:none}ul.lst-kix_xtvbi3hckqa7-5{list-style-type:none}ul.lst-kix_k2t2lmvxr108-3{list-style-type:none}ul.lst-kix_xtvbi3hckqa7-6{list-style-type:none}ul.lst-kix_k2t2lmvxr108-2{list-style-type:none}ul.lst-kix_xtvbi3hckqa7-7{list-style-type:none}ul.lst-kix_xtvbi3hckqa7-0{list-style-type:none}ul.lst-kix_k2t2lmvxr108-8{list-style-type:none}ul.lst-kix_xtvbi3hckqa7-1{list-style-type:none}ul.lst-kix_k2t2lmvxr108-7{list-style-type:none}ul.lst-kix_xtvbi3hckqa7-2{list-style-type:none}.lst-kix_8xzsi9ginel7-6 > li:before{content:"● "}ul.lst-kix_k2t2lmvxr108-6{list-style-type:none}ul.lst-kix_xtvbi3hckqa7-3{list-style-type:none}.lst-kix_ea0rnuu84ydt-1 > li:before{content:"○ "}ul.lst-kix_k2t2lmvxr108-1{list-style-type:none}ul.lst-kix_xtvbi3hckqa7-8{list-style-type:none}ul.lst-kix_k2t2lmvxr108-0{list-style-type:none}.lst-kix_8xzsi9ginel7-8 > li:before{content:"■ "}ul.lst-kix_9ddydrup3lmg-4{list-style-type:none}ul.lst-kix_9ddydrup3lmg-3{list-style-type:none}ul.lst-kix_9ddydrup3lmg-2{list-style-type:none}ul.lst-kix_9ddydrup3lmg-1{list-style-type:none}ul.lst-kix_9ddydrup3lmg-0{list-style-type:none}.lst-kix_abaes0abkjkd-3 > li:before{content:"● "}ul.lst-kix_szbk9i2c0lvm-5{list-style-type:none}.lst-kix_abaes0abkjkd-1 > li:before{content:"○ "}.lst-kix_abaes0abkjkd-5 > li:before{content:"■ "}ul.lst-kix_9ddydrup3lmg-8{list-style-type:none}ul.lst-kix_szbk9i2c0lvm-6{list-style-type:none}ul.lst-kix_9ddydrup3lmg-7{list-style-type:none}.lst-kix_a3om2p62vgzm-3 > li:before{content:"● "}ul.lst-kix_szbk9i2c0lvm-7{list-style-type:none}ul.lst-kix_9ddydrup3lmg-6{list-style-type:none}ul.lst-kix_szbk9i2c0lvm-8{list-style-type:none}ul.lst-kix_9ddydrup3lmg-5{list-style-type:none}ul.lst-kix_4ejieq6m3ea8-0{list-style-type:none}ul.lst-kix_szbk9i2c0lvm-1{list-style-type:none}.lst-kix_abaes0abkjkd-7 > li:before{content:"○ "}ul.lst-kix_szbk9i2c0lvm-2{list-style-type:none}.lst-kix_a3om2p62vgzm-5 > li:before{content:"■ "}ul.lst-kix_szbk9i2c0lvm-3{list-style-type:none}ul.lst-kix_szbk9i2c0lvm-4{list-style-type:none}ul.lst-kix_4ejieq6m3ea8-4{list-style-type:none}ul.lst-kix_4ejieq6m3ea8-3{list-style-type:none}ul.lst-kix_4ejieq6m3ea8-2{list-style-type:none}.lst-kix_93mwg8ipp5fd-2 > li:before{content:"■ "}ul.lst-kix_4ejieq6m3ea8-1{list-style-type:none}ul.lst-kix_szbk9i2c0lvm-0{list-style-type:none}ul.lst-kix_cdqzq1rg0gva-2{list-style-type:none}.lst-kix_ea0rnuu84ydt-3 > li:before{content:"● "}ul.lst-kix_cdqzq1rg0gva-3{list-style-type:none}ul.lst-kix_cdqzq1rg0gva-0{list-style-type:none}.lst-kix_ekdaj3ras73e-0 > li:before{content:"● "}ul.lst-kix_cdqzq1rg0gva-1{list-style-type:none}ul.lst-kix_cdqzq1rg0gva-6{list-style-type:none}ul.lst-kix_wubxruaafexv-8{list-style-type:none}.lst-kix_ea0rnuu84ydt-5 > li:before{content:"■ "}ul.lst-kix_cdqzq1rg0gva-7{list-style-type:none}.lst-kix_a3om2p62vgzm-7 > li:before{content:"○ "}ul.lst-kix_wubxruaafexv-7{list-style-type:none}.lst-kix_93mwg8ipp5fd-0 > li:before{content:"● "}ul.lst-kix_cdqzq1rg0gva-4{list-style-type:none}ul.lst-kix_wubxruaafexv-6{list-style-type:none}ul.lst-kix_cdqzq1rg0gva-5{list-style-type:none}ul.lst-kix_wubxruaafexv-5{list-style-type:none}ul.lst-kix_wubxruaafexv-4{list-style-type:none}ul.lst-kix_l9gwi0yjnuxz-6{list-style-type:none}.lst-kix_ea0rnuu84ydt-7 > li:before{content:"○ "}ul.lst-kix_wubxruaafexv-3{list-style-type:none}ul.lst-kix_l9gwi0yjnuxz-5{list-style-type:none}ul.lst-kix_cdqzq1rg0gva-8{list-style-type:none}ul.lst-kix_wubxruaafexv-2{list-style-type:none}ul.lst-kix_l9gwi0yjnuxz-4{list-style-type:none}.lst-kix_ekdaj3ras73e-2 > li:before{content:"■ "}.lst-kix_ekdaj3ras73e-4 > li:before{content:"○ "}ul.lst-kix_wubxruaafexv-1{list-style-type:none}ul.lst-kix_l9gwi0yjnuxz-3{list-style-type:none}ul.lst-kix_wubxruaafexv-0{list-style-type:none}ul.lst-kix_l9gwi0yjnuxz-8{list-style-type:none}ul.lst-kix_l9gwi0yjnuxz-7{list-style-type:none}.lst-kix_ekdaj3ras73e-6 > li:before{content:"● "}.lst-kix_ekdaj3ras73e-8 > li:before{content:"■ "}.lst-kix_9rubihep9ifp-1 > li:before{content:"○ "}.lst-kix_cdqzq1rg0gva-1 > li:before{content:"● "}ul.lst-kix_4ejieq6m3ea8-8{list-style-type:none}ul.lst-kix_4ejieq6m3ea8-7{list-style-type:none}ul.lst-kix_xb78o6yrjadh-0{list-style-type:none}ul.lst-kix_4ejieq6m3ea8-6{list-style-type:none}ul.lst-kix_xb78o6yrjadh-1{list-style-type:none}ul.lst-kix_4ejieq6m3ea8-5{list-style-type:none}ul.lst-kix_xb78o6yrjadh-2{list-style-type:none}.lst-kix_ke3yiidainto-7 > li:before{content:"○ "}ul.lst-kix_xb78o6yrjadh-7{list-style-type:none}ul.lst-kix_xb78o6yrjadh-8{list-style-type:none}ul.lst-kix_xb78o6yrjadh-3{list-style-type:none}.lst-kix_egv72qfbcr0z-0 > li:before{content:"● "}ul.lst-kix_xb78o6yrjadh-4{list-style-type:none}ul.lst-kix_xb78o6yrjadh-5{list-style-type:none}ul.lst-kix_xb78o6yrjadh-6{list-style-type:none}.lst-kix_egv72qfbcr0z-6 > li:before{content:"● "}.lst-kix_ke3yiidainto-3 > li:before{content:"● "}.lst-kix_egv72qfbcr0z-2 > li:before{content:"■ "}ul.lst-kix_h6atge8p91zx-2{list-style-type:none}ul.lst-kix_h6atge8p91zx-3{list-style-type:none}ul.lst-kix_h6atge8p91zx-0{list-style-type:none}ul.lst-kix_h6atge8p91zx-1{list-style-type:none}.lst-kix_egv72qfbcr0z-4 > li:before{content:"○ "}.lst-kix_ke3yiidainto-5 > li:before{content:"■ "}ul.lst-kix_h6atge8p91zx-8{list-style-type:none}ul.lst-kix_h6atge8p91zx-6{list-style-type:none}ul.lst-kix_h6atge8p91zx-7{list-style-type:none}ul.lst-kix_h6atge8p91zx-4{list-style-type:none}ul.lst-kix_h6atge8p91zx-5{list-style-type:none}.lst-kix_egv72qfbcr0z-8 > li:before{content:"■ "}.lst-kix_8xzsi9ginel7-2 > li:before{content:"■ "}.lst-kix_ke3yiidainto-1 > li:before{content:"○ "}.lst-kix_5jsgu6ko8uo7-5 > li:before{content:"● "}ul.lst-kix_abaes0abkjkd-8{list-style-type:none}.lst-kix_5jsgu6ko8uo7-4 > li:before{content:"● "}ul.lst-kix_abaes0abkjkd-6{list-style-type:none}ul.lst-kix_abaes0abkjkd-7{list-style-type:none}.lst-kix_5jsgu6ko8uo7-8 > li:before{content:"● "}ul.lst-kix_abaes0abkjkd-0{list-style-type:none}ul.lst-kix_abaes0abkjkd-1{list-style-type:none}ul.lst-kix_abaes0abkjkd-4{list-style-type:none}ul.lst-kix_abaes0abkjkd-5{list-style-type:none}ul.lst-kix_abaes0abkjkd-2{list-style-type:none}ul.lst-kix_abaes0abkjkd-3{list-style-type:none}.lst-kix_dvucmk7cmlye-5 > li:before{content:"■ "}.lst-kix_tss6elgnixwc-6 > li:before{content:"● "}.lst-kix_58hdeb6r00fm-7 > li:before{content:"● "}ul.lst-kix_ekdaj3ras73e-8{list-style-type:none}.lst-kix_dvucmk7cmlye-2 > li:before{content:"■ "}.lst-kix_dvucmk7cmlye-6 > li:before{content:"● "}.lst-kix_58hdeb6r00fm-6 > li:before{content:"● "}ul.lst-kix_ekdaj3ras73e-3{list-style-type:none}ul.lst-kix_tss6elgnixwc-3{list-style-type:none}ul.lst-kix_ekdaj3ras73e-2{list-style-type:none}.lst-kix_tss6elgnixwc-2 > li:before{content:"■ "}ul.lst-kix_tss6elgnixwc-2{list-style-type:none}ul.lst-kix_ekdaj3ras73e-1{list-style-type:none}ul.lst-kix_tss6elgnixwc-5{list-style-type:none}ul.lst-kix_ekdaj3ras73e-0{list-style-type:none}ul.lst-kix_tss6elgnixwc-4{list-style-type:none}ul.lst-kix_ekdaj3ras73e-7{list-style-type:none}ul.lst-kix_ekdaj3ras73e-6{list-style-type:none}.lst-kix_tss6elgnixwc-1 > li:before{content:"○ "}ul.lst-kix_ekdaj3ras73e-5{list-style-type:none}ul.lst-kix_tss6elgnixwc-1{list-style-type:none}ul.lst-kix_ekdaj3ras73e-4{list-style-type:none}ul.lst-kix_tss6elgnixwc-0{list-style-type:none}ul.lst-kix_tss6elgnixwc-7{list-style-type:none}ul.lst-kix_tss6elgnixwc-6{list-style-type:none}.lst-kix_58hdeb6r00fm-2 > li:before{content:"● "}ul.lst-kix_tss6elgnixwc-8{list-style-type:none}.lst-kix_lozmllmuwxpx-8 > li:before{content:"■ "}.lst-kix_58hdeb6r00fm-3 > li:before{content:"● "}.lst-kix_h6atge8p91zx-2 > li:before{content:"■ "}.lst-kix_h6atge8p91zx-1 > li:before{content:"○ "}.lst-kix_xb78o6yrjadh-8 > li:before{content:"■ "}.lst-kix_lozmllmuwxpx-4 > li:before{content:"○ "}.lst-kix_lozmllmuwxpx-5 > li:before{content:"■ "}.lst-kix_szbk9i2c0lvm-8 > li:before{content:"■ "}.lst-kix_lfcsa7y68qx0-8 > li:before{content:"● "}.lst-kix_xb78o6yrjadh-7 > li:before{content:"○ "}.lst-kix_k2t2lmvxr108-2 > li:before{content:"● "}.lst-kix_k2t2lmvxr108-3 > li:before{content:"● "}ul.lst-kix_lfcsa7y68qx0-5{list-style-type:none}ul.lst-kix_lfcsa7y68qx0-6{list-style-type:none}.lst-kix_szbk9i2c0lvm-4 > li:before{content:"○ "}.lst-kix_lozmllmuwxpx-1 > li:before{content:"○ "}ul.lst-kix_lfcsa7y68qx0-3{list-style-type:none}ul.lst-kix_lfcsa7y68qx0-4{list-style-type:none}.lst-kix_xb78o6yrjadh-3 > li:before{content:"● "}.lst-kix_k2t2lmvxr108-6 > li:before{content:"● "}.lst-kix_h6atge8p91zx-6 > li:before{content:"● "}.lst-kix_szbk9i2c0lvm-5 > li:before{content:"■ "}ul.lst-kix_lfcsa7y68qx0-7{list-style-type:none}.lst-kix_h6atge8p91zx-5 > li:before{content:"■ "}ul.lst-kix_lfcsa7y68qx0-8{list-style-type:none}.lst-kix_xb78o6yrjadh-4 > li:before{content:"○ "}.lst-kix_szbk9i2c0lvm-0 > li:before{content:"● "}ul.lst-kix_lfcsa7y68qx0-1{list-style-type:none}ul.lst-kix_lfcsa7y68qx0-2{list-style-type:none}.lst-kix_wubxruaafexv-1 > li:before{content:"○ "}.lst-kix_wubxruaafexv-2 > li:before{content:"■ "}.lst-kix_wubxruaafexv-5 > li:before{content:"■ "}.lst-kix_wubxruaafexv-6 > li:before{content:"● "}ul.lst-kix_lfcsa7y68qx0-0{list-style-type:none}.lst-kix_k2t2lmvxr108-7 > li:before{content:"● "}.lst-kix_5jsgu6ko8uo7-1 > li:before{content:"● "}.lst-kix_dvucmk7cmlye-1 > li:before{content:"○ "}.lst-kix_lozmllmuwxpx-0 > li:before{content:"● "}.lst-kix_5jsgu6ko8uo7-0 > li:before{content:"● "}.lst-kix_szbk9i2c0lvm-1 > li:before{content:"○ "}.lst-kix_tss6elgnixwc-5 > li:before{content:"■ "}.lst-kix_xb78o6yrjadh-0 > li:before{content:"● "}ul.lst-kix_9rubihep9ifp-8{list-style-type:none}ul.lst-kix_9rubihep9ifp-7{list-style-type:none}.lst-kix_8xzsi9ginel7-3 > li:before{content:"● "}.lst-kix_1uss5az4o3ft-1 > li:before{content:"● "}.lst-kix_1uss5az4o3ft-5 > li:before{content:"● "}.lst-kix_8xzsi9ginel7-7 > li:before{content:"○ "}.lst-kix_4ejieq6m3ea8-2 > li:before{content:"■ "}.lst-kix_ea0rnuu84ydt-2 > li:before{content:"■ "}ul.lst-kix_9rubihep9ifp-0{list-style-type:none}ul.lst-kix_9rubihep9ifp-2{list-style-type:none}ul.lst-kix_9rubihep9ifp-1{list-style-type:none}.lst-kix_4ejieq6m3ea8-6 > li:before{content:"● "}ul.lst-kix_9rubihep9ifp-4{list-style-type:none}ul.lst-kix_9rubihep9ifp-3{list-style-type:none}ul.lst-kix_9rubihep9ifp-6{list-style-type:none}.lst-kix_lfcsa7y68qx0-5 > li:before{content:"● "}ul.lst-kix_9rubihep9ifp-5{list-style-type:none}.lst-kix_a3om2p62vgzm-2 > li:before{content:"■ "}.lst-kix_abaes0abkjkd-2 > li:before{content:"■ "}.lst-kix_abaes0abkjkd-6 > li:before{content:"● "}.lst-kix_a3om2p62vgzm-6 > li:before{content:"● "}.lst-kix_lfcsa7y68qx0-1 > li:before{content:"● "}.lst-kix_ekdaj3ras73e-1 > li:before{content:"○ "}.lst-kix_ea0rnuu84ydt-6 > li:before{content:"● "}ul.lst-kix_egv72qfbcr0z-0{list-style-type:none}ul.lst-kix_egv72qfbcr0z-1{list-style-type:none}.lst-kix_ekdaj3ras73e-5 > li:before{content:"■ "}ul.lst-kix_egv72qfbcr0z-4{list-style-type:none}ul.lst-kix_egv72qfbcr0z-5{list-style-type:none}.lst-kix_qwjagb9j6uix-5 > li:before{content:"● "}ul.lst-kix_egv72qfbcr0z-2{list-style-type:none}ul.lst-kix_egv72qfbcr0z-3{list-style-type:none}.lst-kix_cdqzq1rg0gva-2 > li:before{content:"● "}ul.lst-kix_egv72qfbcr0z-8{list-style-type:none}ul.lst-kix_egv72qfbcr0z-6{list-style-type:none}ul.lst-kix_egv72qfbcr0z-7{list-style-type:none}.lst-kix_ke3yiidainto-8 > li:before{content:"■ "}.lst-kix_ke3yiidainto-0 > li:before{content:"● "}.lst-kix_ke3yiidainto-4 > li:before{content:"○ "}.lst-kix_egv72qfbcr0z-3 > li:before{content:"● "}.lst-kix_qwjagb9j6uix-1 > li:before{content:"● "}.lst-kix_egv72qfbcr0z-7 > li:before{content:"○ "}

Exam 1 study guide (13-14) We also discuss several other topics like Did irian invasions cause the fall of the harrapan empire?

Chapter 13We also discuss several other topics like What is the hybridization of c2?

Corporate form of organization

  • Corporation:  an entity created by law and is separate from its owners
  • Advantages
  • Separate legal entity
  • limited liability of stockholders
  • Transferable ownership rights
  • Continuous life
  • No mutual agency for stockholders
  • Easy to raise large amount of capital
  • Disadvantages
  • Government regulations
  • Shareholders aren’t actively involved in managing the company
  • double/corporate taxation

  • Organization and management
  • Incorporation: corporation is created when a charter is obtained from a state government
  • Management of a corporation:

                StockholdersIf you want to learn more check out What is the difference between the continental drift hypothesis and plate tectonic theory?

                         

                Board of directors

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                President, VIP, Officers

                         

                Employees Don't forget about the age old question of What are the possible ethical challenges in working with children?

  • Stockholders of a corporation
  • Common stock: corporation’s basic ownership share; also generically called capital stock.
  • General rights
  • Vote at meetings
  • sell/trade stock
  • Buy proportional shares of common stock that is later issued; called preemptive right
  • Receive dividends
  • Share in any remaining assets if company is liquidated

  • Certificates
  • Show proof of ownership
  • # of units = # of shares

  • Basics of Capital Stock
  • Capital stock: any shares issued to obtain capital
  • Authorized: # of shares available to sell
  • Sold/Issued: # of shares sold to stockholders
  • Outstanding: # of shares sold to stockholders minus shares of treasury stock

  • Market value: selling/buying price of stock

  • Stockholders’ equity
  • Paid-in capital: total investment shareholders place in the corp; comes from stock related transactions
  • Retained earnings: net income/loss minus dividends to shareholders; comes from operations
  • Type: stockholders’ equity
  • Normal balance: credit

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Common Stock

  • Common stock
  • Type: stockholders’ equity
  • Normal balance: credit

  • Paid-in capital in excess of par, common stock
  • Type: stockholders’ equity
  • Normal balance: credit

  • Issuing stock at par:
  • Debit cash; credit common stock, $par value

  • Issuing stock at premium:
  • Debit cash; credit common stock, $par value & credit paid-in capital in excess of par value, common stock

Dividends

  • Cash dividends
  • Board of directors decides whether to pay cash dividends or not
  • If dividends are declared,
  • Market value is affected
  • retained earnings account must be positive
  • Must have enough cash to pay

  • Common dividend payable
  • Type: current liability
  • Normal balance: credit

  • 3 dates:
  • Date of declaration: directors vote to declare and pay dividends (journal entry: debit retained earnings, credit dividends payable)
  • Date of record: identifies receivers
  • Date of payment: payment of cash to shareholders (journal entry: debit dividends payable, credit cash)

  • Stock dividends: distribution of additional shares of the corporations’ own stock to its stockholders without any receipt of payment
  • Keeps market price affordable
  • Increases # of outstanding shares and lowers per share stock price
  • Evidence of company succeeding

Preferred stock

  • Has priority over common stock
  • 1st dibs on dividends
  • 1st dibs on leftover assets after liquidation
  • Most don’t have voting rights

  • Why issues preferred stock?
  • To raise capital without sacrificing control
  • To boost the return earned by common shareholders through financial leverage
  • Make stock appealing to investors who believe the corp’s stock is too risky or that their ROI would be too low

  • Preferred stock
  • Has priority over common stock
  • 1st dibs on dividends
  • 1st dibs on leftover assets after liquidation
  • Most don’t have voting rights

  • Why issues preferred stock?
  • To raise capital without sacrificing control
  • To boost the return earned by common shareholders through financial leverage
  • Make stock appealing to investors who believe the corp’s stock is too risky or that their ROI would be too low

  • Preferred stock
  • Type: shareholder’s equity
  • Normal balance: credit

  • Paid-in capital in excess of par value, preferred stock
  • Type: shareholders’ equity
  • Normal balance: credit

  • cumulative : gives owners rights to be paid current and all prior periods’ unpaid dividends before any dividend is paid to common stockholders
  • Dividends in arrears:unpaid dividend amounts that must be paid before dividends are paid on common stock
  • Noncumulative: no right to prior period unpaid dividends if undeclared

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