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Chapter 14

Chapter 14. Sole Proprietorships, Partnerships, and Corporations. 14-1 Partnership Characteristics – Advantages and Disadvantages. 14-2 Partnership Agreement or Articles of Co-Partnership. Name and principal location of the firm Purpose of the business Date of inception

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Chapter 14

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  1. Chapter 14 Sole Proprietorships, Partnerships, and Corporations

  2. 14-1 Partnership Characteristics – Advantages and Disadvantages

  3. 14-2 Partnership Agreement or Articles of Co-Partnership Name and principal location of the firm Purpose of the business Date of inception Names and capital contributions of partners Rights and duties of partners Basis for sharing net income or net loss Provision for withdrawals of income Procedures for submitting disputes to arbitration Procedures for the withdrawal or addition of a partner Rights and duties of surviving partners in the event of a partner’s death

  4. 14-3 Entries Required when Forming a Partnership Entries to record the investment are:

  5. 14-4 Corporate Characteristics – Advantages and Disadvantages

  6. 14-5 Stock Issue Terms

  7. 14-6 Issue of Stock

  8. 14-7 Treasury Stock Transactions

  9. 14-8 Requirements for Cash Dividends • Retained earnings. • Adequate cash. • A declaration of dividends (by board of directors). BOARD OF DIRECTORS STOCKHOLDERS

  10. 14-9 Stock Dividends BOARD OF DIRECTORS STOCKHOLDERS

  11. 14-10 Effects of a Stock Dividend on Stockholders’ Equity

  12. 14-10 Effects of a Stock Dividend on Stockholders’ Equity (continued)

  13. 14-11 Effect of a Stock Split on Stockholders’ Equity

  14. 14-12 Retained Earnings Statement

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