ACCTG300 Lecture Notes - Lecture 10: Initial Public Offering, Legal Personality, Issued Shares

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Chapter 11 - reporting and analyzing shareholders" equity. Cash (5,000 x . 50) (to record reacquisition and retirement of 5,000 shares) (to record reacquisition and retirement of 5,000 shares) 15,000 (to record reacquisition and retirement of 5,000 shares) (to record reacquisition and retirement of 5,000 shares) Preferred shares share capital can consist of preferred and common shares preferred shares listed rst in share capital section preferred usually do not have voting rights accounting for preferred shares similar to common shares (cid:20)(cid:21) Dividends dividends are distributed by a corporation to its shareholders on a pro rata (equal) basis they are normally in the form of: cash - most common, stock - common shares. Cash dividends for a cash dividend to occur, a corporation must have: retained earnings, adequate cash, dividends declared by board of directors stock dividend - issuing shares retained earnings - cant sit in a de cit position.

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