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10 Cards in this Set
- Front
- Back
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What is the Presentation of Paid-in Capital?
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Represents amounts that shareholders have invested by buying shares of stock from the company
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What is the Presentation of Retained Earnings?
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Reports the cumulative amount of net income the corporation has earned since its organization less the cumulative amount of dividends declared since organization.
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What is the Presentation of Accumulated Other Comprehensive Income?
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The total change in equity excluding only transactions with owners
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What are the 4 items included in Accumulated Other Comprehensive Income?
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1. Net holding gains (losses) on investments.
2. Net unrecognized loss on pensions. 3. Gains (losses) from foreign currency translations. 4. Deferred gains (losses) from derivatives. |
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Advantages of a Corporation: (4)
VS. Disadvantages of a Corporation: (2) |
1. Continuous existence
2. Easy ownership transfer 3. Easy to raise capital 4. Limited liability VS. 1. Double taxation 2. Government regulation |
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Not-for-profit corporations include: (3)
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1. hospitals
2. charities 3. government agencies such as FDIC. |
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Publicly-held corporations have shares that are...whereas Privately-held corporations have shares that are...
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Widely owned by the general public
VS Owned by only a few individuals. |
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Characteristics of a S Corporation: (2)
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1. Limited liability protection of a corporation.
2. Maximum number of owners |
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Characteristics of a Limited liability company (3)
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1. Limited liability protection of a corporation
2. All owners may be involved in management without losing limited liability protection 3. No limit on number of owners |
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Characteristic of a Limited liability partnership (1)
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Owners are liable for their own actions but not entirely liable for actions of other partners.
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