Acc 291 Week 3 Discussion Question 1

309 words - 2 pages

ACC 291 Week 3 Discussion Question 1


This file ACC 291 Week 3 Discussion Question 1 comprises solution of these problems: "Why does a company choose to form as a corporation? What are the steps required to become a corporation? What are the advantages and disadvantages of the corporate form of doing business?"

Business - Accounting
ACC 291 All Week 4 Assignments - Individual WileyPlus Assignment

Includes:

Week 4 Chapter 13 practice quiz 1

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Omar is considering the following two courses of action: (1) declaring a 5% stock dividend on the 60,000, $10 par value shares outstanding, or (2) effecting a 2-for-1 stock split that will reduce par value to $5 per share. The current market price is $14 per share.

Complete the tabular summary of the effects of the alternative actions on the components of stockholders' equity and outstanding shares.  (If answer is zero, please enter 0. Do not leave any fields blank.)

Exercise E11-16

Before preparing financial statements for the current year, the chief accountant for Springer Company discovered the following errors in the accounts

1. The declaration and payment of $50,000 cash dividend was recorded as a debit to Interest Expense $50,000 and a credit to Cash $50,000

2. A 10% stock dividend (1,000 shares) was declared on the $10 par value stock when the mark...
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