Accounting Study Guide help?

LOI. What is a corporation? a) List some of a corporation's unique characteristics: v) vi) vii) b) Give a brief explanation of the following: Authorized stock- i) Issued stock Outstanding stock- m) Preferred stock- v)Par Value vi) Common stock- ) What are the two parts of stockholder's equity? L02. How is the issuance of stock accounted for? a) When issuing common stock at par value, the journal entry would be to debit and credit Lo3. How is treasu ry stock accounted for? What is treasury stock? b) Why might a company later reacquire some of its own stock as treasury stock? ABC company recently repurchased some of its own stock as treasury stock for $1,000. The company is now selling the stock for $1,100. The journal entry would be: Accounts and Ex atien Debit L04 How are dividends and stock splits accounted for? a) Journalize for the 1) declaration of cash dividend of S1,000 and 2) ccounts and Ex t of cash dividend