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Reporting and Interpreting Owners’ Equity
Chapter 11
PowerPoint Authors:
Susan Coomer Galbreath, Ph.D., CPA Charles W. Caldwell, D.B.A., CMA Jon A. Booker, Ph.D., CPA, CIA Cynthia J. Rooney, Ph.D., CPA
McGrawHill/Irwin Copyright © 2011 by The McGrawHill Companies, Inc. All rights reserved.
Understanding The Business Advantages of a corporation
Simple to become an owner
Easy to transfer ownership
Provides limited liability
Because a corporation is a separate legal entity, it can . . .
Own assets.
Sue and be sued.
Incur liabilities.
Enter into contracts.
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Ownership of a Corporation
S to c k h o ld e rs
(O w n e rs o f v o tin g s h a re s )
B o a rd o f D ire c to rs
In te rn a l (m a n a g e rs ) a n d
Appointed by directors
E x te rn a l (n o n -m a n a g e rs )
P re s id e n t
V ic e P re s id e n t V ic e P re s id e n t V ic e P re s id e n t V ic e P re s id e n t (P ro d u c tio n ) (M a rk e tin g ) (F in a n c e ) (C o n tro lle r)
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Common Stock Transactions
Two primary sources of
stockholders’
Contributed capital
equity
Retained earnings
Common stock, par value
Capital in excess of par value
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Initial Sale of Stock
Initial public offering (IPO)
Seasoned new issue
The first time a Subsequent sales of corporation sells new stock to the
stock to the public. public.
Kroger Kroger
issues new stock.
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