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Problem Solving Survival Guide to accompany Financial Accounting, 8th Edition by Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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EXERCISE 11-14

Purpose: (L.O. 1 thru 9) This exercise will quiz you about terminology used in this chapter.

A list of accounting terms with which you should be familiar appears below:

Authorized stock Par value stock
**Book value per share Payment date
Cash dividend Preferred stock
Charter Prior period adjustment
Corporate capital Privately held corporation
Corporation Publicly held corporation
Cumulative dividend Record date
Declaration date Retained earnings
Deficit Retained earnings restrictions
Dividend Retained earnings statement
Legal capital Return on common stockholders' equity ratio
Liquidating dividend Stated value
No-par value stock Stock dividend
Organization costs Stock split
Outstanding stock Stockholders' equity statement
Paid-in capital Treasury stock

** This material is covered in Appendix 11B in the text.

Instructions

For each item below, enter in the blank the term that is described.

  1. ____________________________________A corporation that may have thousands of stockholders and whose stock is regularly traded on a national securities market.
  2. ____________________________________A corporation that has only a few stockholders and whose stock is not available for sale to the general public.
  3. ___________________________________The amount of stock that a corporation is authorized to sell as indicated in its charter.
  4. ___________________________________Costs incurred in the formation of a corporation.
  5. ___________________________________Capital ...

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