CH 13.2 In Class NAME BE 155 Identify (by letter) each of the following characteristics as being an advantage, a disadvantage, DATE: or not applicable to the corporate form of business organization. A = Advantage D Disadvantage N Not Applicable Characteristics 1. Separate legal entity 2. Taxable entity resulting in additional taxes 3. Continuous life 4. Unlimited liability of owners 5. Government regulation 6. Separation of ownership and management 7. Ability to acquire capital 8. Ease of transfer of ownership BE 156 On July 6, Clayton Corporation issued 2,000 shares of its $1.50 par common stock. The market price of the stock on that date was $18 per share. Journalize the issuance of the stock. BE 157 Domaine Corporation is authorized to issue 1,000,000 shares of $1 par value common stock During 2012, the company has the following stock transactions. Jan. 15 Issued 400,000 shares of stock at $7 per share. Sept. 5 Purchased 30,000 shares of common stock for the treasury at $9 per share. Instructions Journalize the transactions for Domaine Corporation