Course Learning Outcomes
- Recognize terms and definitions related to adjusting entries, liabilities, equities, especially long-term debt, equity issuance, dividends, and share repurchases. Define a partnership and a corporate form of businesses.
- Understand the ethical dimension of conducting partnership type of businesses.
- Solve problems related to the calculation of depreciation expense using straight line, double declining and unit of activity methods for example (depreciation = (cost-salvage value)/useful life). Compute and record the income/losses, salaries and interest under partnership. Journalize entries related to stock issuance and repurchase. Calculating interest payment for bond payable along with mortgage payable.
- Analyze the effects of treasury stocks on number of shares outstanding. Breakdown the component of stock holder equity section of corporation. Compare and contrast the valuation of bonds and equities. Distinguish between cumulative and non-cumulative dividend.
- Create a dividend distribution schedule for sharing income and loss amongst partners.
- Discuss in brief the ethical situations encountered by a partnership upon liquidation and a corporation amongst dividend distribution.