Chapter 12 Corporations: Organization, Capital Stock Transactions, and Dividends Accounting, 21 st Edition Warren Reeve Fess PowerPoint Presentation by.

Presentasi berjudul: "Chapter 12 Corporations: Organization, Capital Stock Transactions, and Dividends Accounting, 21 st Edition Warren Reeve Fess PowerPoint Presentation by."— Transcript presentasi:

1 Chapter 12 Corporations: Organization, Capital Stock Transactions, and Dividends Accounting, 21 st Edition Warren Reeve Fess PowerPoint Presentation by Douglas Cloud Professor Emeritus of Accounting Pepperdine University © Copyright 2004 South-Western, a division of Thomson Learning. All rights reserved. Task Force Image Gallery clip art included in this electronic presentation is used with the permission of NVTech Inc.

2 Some of the action has been automated, so click the mouse when you see this lightning bolt in the lower right-hand corner of the screen. You can point and click anywhere on the screen.

3 1.Describe the nature of the corporate form of organization. 2.List the two main sources of stockholders’ equity. 3.List the major sources of paid-in capital, including the various classes of stock. 4.Journalize the entries for issuing stock. 5.Journalize the entries for treasury stock transactions. ObjectivesObjectives After studying this chapter, you should be able to:

4 6.State the effect of stock splits on corporate financial statements. 7.Journalize the entries for cash dividends and stock dividends. 8.Describe and illustrate the reporting of stockholders’ equity. 9.Compute and interpret the dividend yield on common stock. ObjectivesObjectives

5 Employees Officers (selected by board of directors) Board of Directors (elected by stockholders) Organizational Structure of a Corporation Stockholders (owners of corporation stock)

6 Forming a Corporation  First step is to file an application of incorporation with the state.  Because state laws differ, corporations often organize in states with more favorable laws.  More than half of the largest companies are incorporated in Delaware.  State grants a charter or articles of incorporation which formally create the corporation.  Management and board of directors prepare bylaws which are operation rules and procedures.

7 Forming a Corporation On January 5, the firm paid the organization costs of $8,500. This amount includes legal fees, taxes and licenses, promotion costs, etc. Jan.5Organization Expense8 500 00 Paid cost of organizing the corporation. Cash 8 500 00

8 Stockholders’ Equity Stockholders’ Equity Assets Liabilities Stockholders’ Equity Stockholders’ Equity = Assets – Liabilities Represents the stockholders’ share of the total assets. Stockholders’ Equity

9 Assets Stockholders’ Equity Stockholders’ Equity Liabilities Stockholders’ Equity Stockholders’ Equity There are two sources of stockholders’ equity.

10 Stockholders’ Equity: Paid-in capital: Common stock$xxxxx Retained earnings xxxx Total$xxxxx 1 Stockholderinvestments Stockholders’ Equity Stockholders’ Equity Assets Liabilities Stockholders’ Equity Stockholders’ Equity

11 Stockholders’ Equity: Paid-in capital: Common stock$xxxxx Retained earnings xxxx Total$xxxxx Reinvested earnings 2 Stockholders’ Equity Stockholders’ Equity Assets Liabilities Stockholders’ Equity Stockholders’ Equity

12 Authorized Issued Outstanding Number of Shares Sources of Paid-In Capital

13 Major Rights that Accompany Ownership of a Share of Stock 1.The right to vote in matters concerning the corporation. 2.The right to share in distribution of earnings. 3.The right to share in assets on liquidation. Sources of Paid-In Capital

14 The two primary classes of paid-in capital are common stock and preferred stock. The primary attractiveness of preferred stocks is that they are preferred over common as to dividends. Money available for dividends Common Stockholders Preferred Stockholders Classes of Stockholders

15 Common Stock—the basic ownership of stock with rights to vote in election of directors, share in distribution of earnings, and purchase additional shares. Preferred Stock—A class of stock with preferential rights over common stock in payment of dividends and company liquidation. Classes of Stockholders

16 Nonparticipating Preferred Stock A nonparticipating preferred stock is limited to a certain amount. Assume 1,000 shares of $4 nonparticipating preferred stock and 4,000 shares of common stock and the following: Net income$20,000$55,000$62,000 Amount retained 10,000 20,000 40,000 Amount distributed$10,000$35,000$22,000 2005 2006 2007

17 Nonparticipating Preferred Stock Dividends per share: Preferred$ 4.00$ 4.00$ 4.00 Common$ 1.50$ 7.75$ 4.50 Amount distributed$10,000$35,000$22,000 Preferred dividend (1,000 shares)4,0004,0004,000 Common dividend (4,000 shares)$6,000$31,000$18,000

18 Assume 1,000 shares of $4 cumulative preferred stock and 4,000 shares of common stock. No dividends were paid in 2005 and 2006. Cumulative Preferred Stock So, preferred dividends are two years in arrears.

19 On March 7, 2007, the board of directors declares dividends of $22,000. Cumulative Preferred Stock

20 $4,000 Cumulative Preferred Stock Preferred Stock Dividends Dividends Paid in 2007 Total dividends paid, $22,000 $4,000 2005 (In arrears) $4,000 2006 (In arrears) $4,000 2007 (Current dividend) Preferred Stock Common Stock $10,000

21 Other Sources of Paid-in Capital On April 20 the city of Moraine donated land to Merrick Corporation as an incentive to relocate its headquarters to Moraine. The land was valued at $500,000. Apr.20Land500 000 00 Recorded land donated by the city of Moraine. Donated Capital500 000 00

22 ISSUING STOCK Penerbitan /Penjualan Saham Dijual tunai Dijual dengan pembayaran bertahap Ditukar dengan Aktiva non cash Ditukar dengan perusahaan ( dalam penggabungan usaha

23 Penerbitan Saham PT ABC Saham

24 Pada tanggal 1 April 2002 PT. A menjual 4.000 lembar saham nominal $1/lb dengan harga $45,000 TglAccountDebitKredit April 1 PT A Saham $1 $45,000 Kas bertambah $ 45,000 Saham yang beredar bertambah $ 4,000 Agio Saham bertambah $ 41,000 Cash $ 45,000 Common Stock $ 4,000 Paid In Capital - C/S $ 41,000

25 Pada tanggal 1 April 2002 PT. A menjual 4.000 lembar saham nominal $1/lb dengan harga $4,000 TglAccountDebitKredit April 1 PT A Saham $1 $4,000 Kas bertambah $ 4,000 Saham yang beredar bertambah $ 4,000 Cash $ 4,000 Common Stock $ 4,000

26 Pada tanggal 1 April 2002 PT. A menjual 4.000 lembar saham nominal $1/lb dengan harga $3,600 TglAccountDebitKredit April 1 PT A Saham $1 $3,600 Kas bertambah $ 3,600 Memberi discount $ 400 Cash $ 3,600 PIC-C/S or R/E $ 400 Saham yang beredar bertambah $ 4,000 Common Stock $ 4,000

27 Pada tanggal 1 April 2002 PT. A menjual 4.000 lembar saham tanpa nominal dengan harga $45,000 TglAccountDebitKredit April 1 PT A Saham $45,000 Kas bertambah $ 45,000 Cash $ 45,000 Saham yang beredar bertambah $ ? Common Stock $ 45,000

28 Pada tanggal 1 November 2002 PT. A menerima order / pesanan 5.000 lembar saham nominal $1 per lembar dengan harga $12.5/lembar. Saat itu diterima down Payment 50 %. TglAccountDebitKredit 2002 Nov.1 Stock Subcription Rec$62,500 Common Stock Subscribed5,000 PIC57,500 Cash31,250 Stock SubcriptionReceivable31,250

29 Pada tanggal 1 Desember 2002 PT. A menerima sisa harga untuk 2.500 lembar. Selanjutnya diserahkan 2,500 lembar saham ke pemesan. TglAccountDebitKredit 2002 Des. 1 Cash15,625 Stock Subscription Rec.15,625 Common Stock Subscribed 2,500 Common stock2,500

30 Bagaimana jika ada yang gagal membayar 1.Seluruh uang yang diterima dikembalikan 2.Seluruh uang yang diterima tidak dikembalikan, melainkan dianggap kedaluarsa 3.Uang yang diterima dikembalikan setelah dikurangi dengan jumlah tertentu 4.Pemesan saham diberikan saham sesuai dengan yang telah dibayar.

31 200 lembar saham biasa nominal $0.5/lembar ditukar dengan tanah. Saham perusahaan diperdagangkan di bursa dengan harga $50 Perusa- haan Saham (200 lb, $0.5/lb, Hg pasar $50/lb) Tanah TglAccountDebitKredit 2002 Land10,000 Common Stock100 PIC-C/S9,900

32 200 lembar saham biasa nominal $0.5/lembar ditukar dengan tanah. Saham perusahaan tidak diperdagangkan di bursa sementara itu harga pasar tanah lebih dapat dipercaya yaitu $12,000 TglAccountDebitKredit 2002 Land12,000 Common Stock100 PIC-C/S11,900 Perusa- haan Saham (200 lb, $.5/lb) Tanah =$12,000

33 100 lembar saham biasa nominal $.5/lembar diserahkan ke salah satu karyawan sebagai pembayaran gaji. Saham perusahaan diperdagangkan di bursa dengan harga $50/lembar. TglAccountDebitKredit 2002 Salaries Expense5,000 Common Stock50 PIC-C/S4,950

34 Issuing Stock at No-Par Some states require that the entire proceeds from the sale of no-par stock be treated as legal capital.

35 Issuing Stock at No-Par Also, no-par stock may be assigned a stated value per share. The stated value is recorded similar to a par value.

36 Issuing Stock with a Stated Value On March 30, issued 1,000 shares of no-par common stock at $40; stated value, $25. Mar.30Cash 40 000 00 Issued 1,000 shares of no-par common stock at $36; stated value, $25. Common Stock25 000 00 Paid-in Capital in Excess of Stated Value15 000 00

37 Treasury Stock Saham Perusahaan yang pernah diterbitkan dan sekarang dibeli kembali oleh perusaaan PT ABC Saham PT. ABC Pemegang saham PT ABC Saham

38 PT ABC Saham PT. ABC Pemegang saham PT ABC Saham PT ABC Saham PT ABC Saham PT ABC Saham PT ABC Saham

39 AKM-2 Ekuitas Margono III-39 Metode Pencatatan METODE COST METODE NILAI NOMINAL

40 METODE COST 1. Pada saat dibeli, treasury stock dicatat sebesar cost 2. Pada saat treasury stock dijual bandingkan antara harga jual dengan costnya A. Harga jual = cost B. Harga jual > cost B. Harga jual < cost Selisihnya dicatat sebagai Agio/Paid In Capital Selisihnya mengurangi Agio dan laba ditahan

41 PT. ABC menerbitkan 10,000 lembar saham nominal $1 dengan harga jual $15 per lembar AccountDebitKredit Agio/Premium= Paid In Capital in Exess of Par Kas bertambah 10.000x $15 = $150,000 Modal saham bertambah 10.000x$1 = $10.000 Timbul agio 10.000x ($15-$1) = $140,000 Cash $150,000 Common Stock $ 10,000 Paid In Capital in Exess of Par $140,000

42 AccountDebitKredit Treasury stock bertambah 1.000x $40 = $40,000 Kas berkurang = $40.000 Treasury Stock $ 40,000 Kas $ 40,000 PT. ABC membeli kembali 1,000 lembar saham dengan harga beli $40 per lembar Treasury Stok 40,000 Cash 40,000

43 PT. ABC menjual 200 lembar Treasury Stock dengan harga jual $50 per lembar AccountDebitKredit Cash10,000 Treasury Stock8,000 Paid In capital From T/S2,000 Cost

44 AccountDebitKredit Treasury stock berkurang 500 lembar $ 40 =$20,000 Kas bertambah = $17.000 Kas $ 17,000 Paid In Capital- T/S $ 2,000 PT. ABC menjual 500 lembar Treasury Stock dengan harga $34 /lb Treasury Stok 40,000 Cash 40,000 Menerima uang dari pemegang saham $3,000 lebih kecil Treasury stock $ 20,000 $ 10,000 $ 8,000 PIC-T/S $ 2,000 Retained earning $ 1,000

45 PT. ABC menjual 500 lembar Treasury Stock dengan harga jual $34 per lembar AccountDebitKredit Cash17,000 Paid In capital From T. Stock2,000 Retained Earning1,000 Treasury Stock20,000

46 PT. ABC membatalkan 300 lembar Treasury Stock AccountDebitKredit Common Stock300 Paid In capital in Excess of Par4,200 Retained Earning7,500 Treasury Stock12,000

47 PT. ABC membatalkan 300 lembar Treasury Stock AccountDebitKredit Common Stock300 PIC in Excess of Par-C/S11,700 Treasury Stock12,000 Cost

48 Stock Splits A corporation sometimes reduces the par or stated value of their common stock and issues a proportionate number of additional shares. This is called a stock split.

49 Stock Splits BEFORE STOCK SPLIT 4 shares, $100 par $400 total par value 20 shares, $20 par AFTER 5-1 STOCK SPLIT $400 total par value

50 Stock Splits A stock split does not change the balance of any corporation accounts. However, it can make the stock more attractive to investors by reducing the price of a share,

51 Accounting for Dividends Dividends are distributions of retained earnings to stockholders. Dividends may be paid in cash, stock, or property. Dividends, even on cumulative preferred stock, are never required, but once declared become a legal liability of the corporation.

52 Corporations generally declare and pay cash dividends on shares outstanding when three conditions exist: 1. Sufficient retained earnings Accounting for Cash Dividends 2. Sufficient cash 3. Formal action by the board of directors Retained Earnings 50,000

53 Accounting for Cash Dividends There are three important dates relating the dividends.

54 Accounting for Cash Dividends First is the date of declaration. Assume that on December 1, Hiber Corporation declares a $42,500 dividend.

55 Dec.1Cash Dividends 42 500 00 Declared cash dividend. Cash Dividend Payable42 500 00 Date of Declaration Accounting for Cash Dividends

56 The second important date is the date of record. For Hiber Corporation this would be December 11. Accounting for Cash Dividends

57 The third important date is the date of payment. On January 2, Hiber issues dividend checks. Accounting for Cash Dividends 2

58 Jan.2Cash Dividends Payable 42 500 00 Paid cash dividends. Cash 42 500 00 Date of Payment

59 Accounting for Stock Dividends A distribution of dividends to stockholders in the form of the firm’s own shares is called a stock dividend.

60 Accounting for Stock Dividends Stock dividends transfer pro rata shares of stock to stockholders. Assume Hendrix Corporation issues a 5% stock dividend on common stock, $20 par, 2,000,000 shares issued.diketahui harga pasar saat ini adalah $31

61 Accounting for Stock Dividends Dec.15Stock Dividends 3,100 000 00 Declared stock dividend. Hendrix Corporation, December 15 (before dividend) Common Stock, $20 par$40,000,000 Paid-in Capital in Excess of Par--Common Stock9,000,000 Retained Earnings26,600,000 Stock Dividends Distributable2,000000 00 Paid-in Capital in Excess of Par—Common Stock1,100000 00

62 Accounting for Stock Dividends Jan. 10Stock Dividends Distributable 2,000 000 00 Issued stocks for the stock dividend. Common Stock2,000000 00 On January 10, Hendix Corporation issues the stock. This action increases the number of shares outstanding by 100,000.

63 Accounting for Stock Dividends Hendrix Corporation, December 15 (before dividend) Common Stock, $20 par$40,000,000 Paid-in Capital in Excess of Par--Common Stock9,000,000 Retained Earnings 26,600,000 $75,600,000 Hendrix Corporation, January 10 (after dividend) Common Stock, $20 par$42,000,000 Paid-in Capital in Excess of Par--Common Stock10,100,000 Retained Earnings 23,500,000 $75,600,000

64 Financial Analysis and Interpretation Dividend Yield 20042003 Dividends per share of common$ 0.80$ 0.60 Market price per share of common$20.50$13.50 Dividends per Share of Common Stock Market Price per Share of Common Stock Dividend Yield $.60 $13.50 Dividend Yield, 2006 = 4.4% Dividend Yield, 2007 $.80 $20.50 = 3.9% Use:To indicate the rate of return to common stockholders in terms of dividends

65 There are two ways to report stockholders’ equity in the balance sheet. In Slide 58, each class of stock is listed first, followed by its related paid-in capital accounts.

66 Paid-in capital: Preferred 10% stock, $50 par, cumulative (2,000 shares authorized and issued) $100,000 Excess of issue price over par(PIC-P/S) 10,000$ 110,000 Common stock, $20 par (50,000 shares authorized, 45,000 issued)$900,000 Excess of issue price over par(PIC C/S) 190,0001,090,000 From sale of treasury stock 2,000 Total paid-in capital$1,202,000 Retained earnings 350,000 Total$1,552,000 Deduct treasury stock (600 shares at cost) 27,000 Total stockholders’ equity$1,525,000 Stockholders’ Equity 61

67 Slide 60 shows the second method. Note that the stock accounts are listed first. The other paid-in capital accounts are listed as a single item described as Additional paid- in capital.

68 Contributed capital: #Preferred 10% stock, cumulative $50 par (2,000 shares authorized and issued) $100,000 #Common stock, $20 par (50,000 shares authorized, 45,000 issued)900,000 #Additional paid-in capital - PIC P/S 10,000 - PIC C/S190,000 - PIC T/S2,000 202,000 Total contributed capital$1,202,000 Retained earnings 350,000 Total$1,552,000 Deduct treasury stock (600 shares at cost) 27,000 Total stockholders’ equity$1,525,000 Stockholders’ Equity

69 The End Chapter 12

70 Stock Right, Warrant and Option Hak yang diberikan ke para pemegang saham untuk membeli saham baru Surat berharga yang dijual oleh perusahaan /yang melekat pada surat berharga lain yang memberi hak untuk membeli saham Opsi untuk membeli saham perusahaan dengan harga tertentu yang diberikan ke officer atau karyawan Right Warrant Opsi

71 Stock Right Tak perlu ada jurnal

72 Stock Warrant Non detachable WarrantDetachable Warrant Warrant yang dapat dipisahkan dengan surat berharga lainnya Warrant yang tak dapat dipisahkan dengan surat berharga lainnya Warrant dicatat tersendiri Warrant tak dicatat tersendiri

73 DetachableStock Warrant PT. B menjual 1.000 saham prefent nominal $50/lembar dengan harga $58/lembar. Pemegang saham Preferrent diberikan warrant untuk membeli 1,000 lembar saham biasa nominal $2/ lembar dengan harga $25/lembar. Segera setelah itu harga pasar Saham Preferrent tanpa warrant $57/lembar, sementara itu warrant diperjualbelikan dengan harga $3/lembar. Harga saham Harg a Jual $58 Harga warrant Dialokasikan Perbandingan Harga pasar saham dan warrant Warrant S.P $50 $58

74 Alokasi Harga Jual dan Jurnal Saham = ( 57:60) x $58 = $55,100 Warrant= ( 3:60) x $58 = $2,900 Nominal =$ 50,000 Agio = $ 5,100 AccountDebitKredit Cash58,000 Preferreed Stock PIC in Excess of Par -PS Stock Warrant 50,000 5,100 2,900

75 Jika warrant diexercise=1.000 lembar $25, par $2/lembar AccountDebitKredit Cash25,000 Common Stock Warrant Common Stock 2,900 2,000 PIC In Exess of Par25,900

76 Jika warrant tak diexercise AccountDebitKredit Stock Warrant2,900 PIC From Expired Warrant2,900

77 Stock Option Opsi untuk membeli saham perusahaan dengan harga tertentu yang diberikan ke officer atau karyawan Stock Option Jumlah opsiTetap Jumlah opsi dapat berubah

78 Cara pencatatan Metode nilai intrinsik Metode Fair Value Harga Opsi = selisih antara harga pasar saham dengan harga excercise Harga Opsi = ditentukan dengan formula tertentu

79 Fixed Option ( Metode nilai intrinsik) Selisih antara Harga pasar saham saat pemberian opsi dengan harga beli saham (exercise)

80 PT. A pada tanggal 1 Januari 2000 memberikan hak opsi untuk membeli 10.000 lembar saham PT. A dengan harga $50 per lembar ke pegawai yang tetap bekerja tiga tahun mulai 1 Januari 2000 s.d. 31 Desember 2002. Harga Pasar saham pada waktu itu $50.00 per lembar. Harga opsi = 10.000 x (50-50 = 0 Tidak ada jurnal

81 Metode Fair Value

82 PT. A pada tanggal 1 Januari 2000 memberikan hak opsi untuk memberli 10.000 lembar saham PT. A dengan harga $50 per lembar ke pegawai yang tetap bekerja tiga tahun mulai 1 Januari 2000 s.d. 31 Desember 2002. Opsi ini memiliki fair value $10 per lembar Nilai opsi/Jasa = 10.000 x $10 = $ 100,000 Nilai opsi = Menunjukkan besarnya nilai jasa karyawan selama 3 tahun karena mereka harus kerja 3 tahun untuk mendapatkan opsi ini Perusahaan Karyawan Opsi Jasa

83 Nilai opsi/Jasa = 10.000 x $10 = $ 100,000 AccountDebitKredit Compensation Expense33,333 Paid In Capital From Stock Option3,333 1.Timbul Expense selama 3 tahun 2.Timbulan setoran calon pemodal dalam bentuk jasa

84 Opsi yang berubah Lihat slide stock based compensation

85 Konversi Saham Preferent ke Saham Biasa Harga jual Prefered Stock Dulu dianggap harga pasar dari Saham biasa yang sekarang diserahkan PT. A Pemegang Saham PT. A Saham Biasa Saham Prefrerent

86 Konversi Saham Preferent ke Saham Biasa Harga jual Prefered Stock Dulu dianggap harga pasar dari Saham biasa yang sekarang diserahkan Harga jual SP > Nominal SB Harga jual SP < Nominal SB Selisihnya dianggap agio Selisihnya dibebankan Ke Retained earning

87 Convertible Preferred Stock AccountDebitKredit