When recording a loss or a gain, which one do you debit and which do you credit? debit loss, credit gain. What is treasury stock and what type of account is it? when a company buys shares of its own stock, its a contra-stockholders’ equity account dividends are what kind of payments to stockholders? and what account is it paid out of? cash payments and paid out of retained earnings

when recording a loss or a gain, which one do you debit and which do you credit?

debit loss, credit gain

what is treasury stock and what type of account is it?

when a company buys shares of its own stock, its a contra-stockholders’ equity account

dividends are what kind of payments to stockholders? and what account is it paid out of?

cash payments and paid out of retained earnings

what does “authorized” mean?

number of shares allowed to be issued

what does “issued” mean?

number of shares sold

what does “outstanding” mean?

number of shares issued, minus treasury stock

journal entry for issuing common stock?

cash
common stock
additional paid-in capital

journal entry for reselling treasury stock?

cash
additional paid-in capital 
treasury stock

when issuing stock, how do you calculate cash, common/preferred stock, additional paid-in capital, and treasury stock?

cash: # of shares x selling price
common/preferred: # of shares x par value of that stock
APIC: difference
treasury stock: # of shares x purchase price of TS

journal entry for paying dividends

dividends payable
cash

operating cash flows include

current assets and liabilities, net income, interest, taxes

investing cash flows include

long term assets (land, equipment, notes receivable)

financing cash flows include

stockholders’ equity, long term liabilities, notes payable

what is vertical analysis?

 

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