TAILIEUCHUNG - Lecture College accounting (13/e): Chapter 21 - Price, Haddock, Farina

Chapter 21 - Corporate earnings and capital transactions. After reading this chapter, you should be able to: Estimate the federal corporate income tax and prepare related journal entries, complete a worksheet for a corporation, record corporate adjusting and closing entries, prepare an income statement for a corporation, record the declaration and payment of cash dividends, record the declaration and issuance of stock dividends, record stock splits,. | 1- McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Corporate Earnings and Capital Transactions Section 1: Accounting for Corporate Earnings Chapter 21 Section Objectives Estimate the federal corporate income tax and prepare related journal entries. Complete a worksheet for a corporation. Record corporate adjusting and closing entries. Prepare an income statement for a corporation. Tax Estimates Beginning of year: The corporation estimates the income tax expense for the coming year. Quarterly: The corporation makes tax deposits based on the estimated tax expense. April 15 June 15 September 15 December 15 End of year: The corporation recomputes the estimated income tax expense and compares it to the tax deposits made. If the quarterly tax deposits are less than the end-of-year estimated tax expense, record the difference as follows: Year-End Adjustment of Tax Liability Debit: Income Tax Expense Credit: Income Tax Payable If the

• Kế toán - Kiểm toán
• College accounting
• Lecture College accounting
• Financial statement
• Cost accounting
• Corporate earnings
• Capital transactions
• Job order cost accounting
• Accounting for sales
• Accounts receivable
• Accounting for purchases
• Accounts payable
• Closing procedures
• Accounting cycle
• Accounting principles
• Reporting standards
• Accounting for partnerships
• Allocating income
• Process cost accounting
• Process inventory
• Language of business
• Financial information
• Analyzing business transactions
• Financial interest
• T accounts
• General ledger
• General journal
• The worksheet
• Trial balance
• Closing entries
• Postclosing trial balance
• Cash receipts
• Cash payments
• Payroll computations
• Payroll laws
• Payroll taxes
• Employee income tax
• Recording adjustments
• Uncollectible accounts
• Notes payable
• Notes receivable
• Merchandise inventory
• Inventory costing methods
• Disposition of assets
• Depreciation methods
• Capital stock transactions
• Capital stock