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Fundamentals of Accounting Theory and Practice Part 2: Module 006: Accounting for Corporation

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Fundamentals of Accounting Theory and Practice Part 2

Module 006: Accounting for Corporation

Welcome to this module, Accounting for Corporation, where you will learn how to account and record the authorization of stocks, issuances of shares of stocks: common or ordinary and preferred, with par value or no-par value; treasury shares accounting ;and how the stockholders’ equity section is shown in the balance sheet.
At the end of this module, you will be able to:
1. Account for authorization , issuances for cash or through subscription of shares of stocks
2. Record issuances of ordinary and preferred shares
3. Account and record shares at par, above par, or no-par value.
4. Account and record treasury shares
5. Present the stockholders’ equity section at the balance sheet.

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[Solved] Fundamentals of Accounting Theory and Practice Part 2: Module 006: Accounting for Corporation

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Introduction The approved application for incorporation or charter of a corporation specifies the kinds or types of stock, its par value, (if any) and the number of shares the company is authorized to issue or sell. These authorized stocks are usually issued or sold for cash but there are also some cases when shares of stock are issued in exchange of services or plant assets. Shares can also be sold on a subscription basis. Before we illustrate the recordin...
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