The book is attached.
JWCL165_c11_506-567.qxd 8/12/09 7:54 AM Page 506 Chapter 11 Corporations: Organization, Stock Transactions, Dividends, and Retained Earnings STUDY OBJECTIVES The Navigator ! Understand Concepts for Review ” After studying this chapter, you should be able to: Read Feature Story ” 1 Identify the major characteristics of a Scan Study Objectives ” corporation. Read Preview ” 2 Record the issuance of common stock. Read text and answer Do it! 3 Explain the accounting for treasury stock. p. 515 ” p. 517 ” p. 520 ” p. 523 ” 4 Differentiate preferred stock from p. 529 ” p. 533 ” p. 536 ” p. 539 ” common stock. Work Comprehensive Do it! p. 541 ” 5 Prepare the entries for cash dividends and stock dividends. Review Summary of Study Objectives ” 6 Identify the items that are reported in a Answer Self-Study Questions ” retained earnings statement. Complete Assignments ” 7 Prepare and analyze a comprehensive The Navigator stockholders’ equity section.! Feature Story “HAVE YOU DRIVEN A FORD LATELY?” A company that has produced such renowned successes as the Model T and the Mustang, and such a dismal failure as the Edsel, would have some interesting tales to tell. Henry Ford was a defiant visionary from the day 506JWCL165_c11_506-567.qxd 8/8/09 7:57 PM Page 507 Ford Motor Company (www.ford.com) was formed in 1903. His goal from day one was to design a car he could mass-produce and sell at a price that was affordable to the masses. In short order he accomplished this goal. By 1920, 60% of all vehicles on U.S. roads were Fords. Henry Ford was intolerant of anything that stood between him and success. In the early years Ford had issued shares to the public in order to finance the company’s exponential growth. In 1916 he decided not to pay a dividend in order to increase the funds available to expand the company. The shareholders sued. Henry Ford’s reaction was swift and direct: If the shareholders didn’t see things his way, he would get rid of them. In 1919 the…
Attachments:
accounting_7e….pdf