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1、Solutions Manualto accompanyPrinciples of Accounting 2nd editionbyJerry Weygandt, Keryn Chalmers, Lorena Mitrione Michelle Fyfe, Susana Yuen, Donald Kieso, Paul KimmelChapter 14Companies: share capitalJohn Wiley & Sons Australia, LtdCHAPTER 14Companies: Share CapitalASSIGNMENT CLASSIFICATION TABLELe
2、arning ObjectivesQuestionsBriefExercisesExercisesProblems 1.Identify the major characteristics of a company.1, 2, 3, 4, 912.Differentiate between share capital and retained earnings.5, 6, 8, 10,11, 14, 1523A, 4A3.Record the issue of ordinary shares.7, 11, 12, 133, 4, 5, 61, 2, 3, 4, 5, 61A, 2A, 3A,
3、4A, 6A, 7A4.Explain the accounting for share buy-backs.15, 1672, 4, 6, 86A5.Differentiate preference shares from ordinary shares.174, 83, 5, 81A, 4A, 6A, 7A6.Prepare a shareholders equity section.2092, 7, 8, 9,10, 111A, 2A, 3A,4A, 5A, 6A, 7A7.Compute book value per share.18, 191012, 13ASSIGNMENT CHA
4、RACTERISTICS TABLEProblemNumberDescriptionDifficultyLevelTimeAllotted (min.)1Journalise shares transactions, post, and prepare share capital section.Simple30-402Journalise share transactions, and prepare shareholders equity section.Moderate30-403Journalise and post transactions, and prepare theshare
5、holders equity section.Moderate30-404Journalise and post ordinary and preference share transactions, and prepare shareholders equity section.Moderate30-405Prepare shareholders equity section.Simple20-306Prepare entries for share transactions and prepare shareholders equity section.Moderate20-307Jour
6、nalise share transactions and prepare share capital section.Moderate40-50BLOOMS TAXONOMY TABLECorrelation Chart between Blooms Taxonomy, Learning Objectives and End-of-Chapter Exercises and ProblemsLearning ObjectiveKnowledgeComprehensionApplicationAnalysisSynthesisEvaluation1.Identify the major cha
7、racteristics of a company.Q14-4BE14-1Q14-1Q14-2Q14-3Q14-92.Differentiate between share capital and retained earnings.Q14-5Q14-6Q14-8Q14-10Q14-11Q14-14Q14-15BE14-2P14-3P14-43.Record the issue of ordinary shares.Q14-11Q14-12Q14-13Q14-7BE14-3BE14-4BE14-5BE14-6E14-1E14-2E14-3E14-5E14-6P14-1P14-2P14-3P14
8、-4P14-6E14-64.Explain the accounting for share buy-backs.Q14-14Q14-15Q14-16E14-8BE14-7P14-65.Differentiate preference shares from ordinary shares.Q14-17E14-8BE14-4BE14-8E14-3E14-5P14-1P14-4P14-6P14-7E14-66.Prepare a shareholders equity section.Q14-20E14-8E14-10E14-11BE14-9E14-2E14-7E14-9P14-1P14-2P1
9、4-3P14-4P14-5P14-6P14-77.Compute book value per share.Q14-18Q14-19BE14-10E14-12E14-13Broadening Your PerspectiveInterpreting FinancialStatements Group DecisionExploring the WebFinancial ReportingComparative AnalysisCommunicationEthics CaseANSWERS TO QUESTIONS1.(a)Separate legal entity. A company is
10、separate and distinct from its owners and it acts in its own name rather than in the name of its shareholders. In contrast to a partnership, the acts of the owners (shareholders) do not bind the company unless the owners are duly appointed agents of the company.(b)Limited liability of shareholders.
11、Because of its separate legal existence, creditors of a company ordinarily have recourse only to company assets to satisfy their claims. Thus, the liability of shareholders is normally limited to their investment in the company.(c)Transferable ownership rights. Ownership of a company is held in shar
12、es. The shares are transferable units. Shareholders may dispose of part or all of their interest by simply selling their shares. The transfer of ownership to another party is entirely at the discretion of the shareholder.2.(a)The separation of ownership and management is an advantage to a company be
13、cause it can hire professional managers to run the company. It is also a disadvantage to a company because it prevents owners from having an active role in directly managing the company.(b)Two other disadvantages of a company form of ownership are government regulations and company taxation. A company is subject to numerous regulations. Companies must pay income taxes. These taxes are substantial. Publicly owned companies are also required to make adequate disclosures of their financial a
