Chapter 15 summary notes Summary of Chapter 15: Corporate distributions, Windups and Sales. Really useful to look through before the exam

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Department
Accounting & Financial Management
Course
AFM 461
Professor
Stanley Laiken
Semester
Fall

Description
Retained earningsCapital dividend accountnon taxed portion of net capial gainsUndistributed surplus Chapter 15 Corporate Distributions Winding Ups and Sales Paid up capital the amount which the corporation can return to the shareholder without it being reported as a dividend to the shareholderDefinition 891PUC per share is an average of issue prices over time for a particular classHighlow sharesshares with a lower PUC and high redemtion amountPUC in a redemption of sharesIs computed at a corporate level o ACB is computed at an individual shareholder levelAveraged among all shareholders of that clas based on shares heldWhen a share is disposed in SH perspective or redeemed in corporation perspective you must account for the deemed dividend that is subject to tax and is NOT part of POD o ProceedsPUCdeemed dividend o Proceedsdeem
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