13-1
CHAPTER13           Corporations:           Organization and           Capital Stock           Transactions13-2
PreviewofCHAPTER1313-3
The Corporate Form of Organization       An entity separate and distinct from its owners.       Classified by Purpose     ...
Characteristics of a Organization       Characteristics that distinguish corporations from       proprietorships and partn...
Characteristics of a Organization       Characteristics that distinguish corporations from       proprietorships and partn...
Characteristics of a Organization       Characteristics that distinguish corporations from       proprietorships and partn...
Characteristics of a Organization       Characteristics that distinguish corporations from       proprietorships and partn...
Characteristics of a Organization       Characteristics that distinguish corporations from       proprietorships and partn...
Characteristics of a Organization        Characteristics that distinguish corporations from        proprietorships and par...
Characteristics of a Organization        Characteristics that distinguish corporations from        proprietorships and par...
Characteristics of a Organization        Characteristics that distinguish corporations from        proprietorships and par...
Characteristics of a Organization        Characteristics that distinguish corporations from        proprietorships and par...
Characteristics of a Organization                                               Stockholders        Illustration 13-1     ...
Forming a Corporation        Initial Steps:            Formed by grant of a state charter.            Corporation develo...
Ownership Rights of Stockholders        Stockholders have the right to:                          Illustration 13-3        ...
Ownership Rights of Stockholders        Stockholders have the right to:                             Illustration 13-3     ...
Ownership Rights of Stockholders        Stockholders have the right to:                           Illustration 13-3       ...
Ownership Rights of Stockholders    Illustration 13-4                                                  Prenumbered        ...
Stock Issue Considerations        Authorized Stock            Charter indicates the amount of stock that a             co...
Stock Issue Considerations        Issuance of Stock            Corporation can issue common stock directly to investors  ...
Stock Issue Considerations        Market Value of Stock            Stock of publicly held companies is traded on organize...
13-23
Stock Issue Considerations        Par and No-Par Value Stock            Years ago, par value determined the legal capital...
Corporate Capital                                   Common Stock                                   Common Stock           ...
Corporate Capital                                   Common Stock                                   Common Stock           ...
Corporate Capital        Comparison of the owners’ equity (stockholders’ equity)        accounts reported on a balance she...
Accounting for Common Stock Issues        Primary objectives:         1) Identify the specific sources of paid-in capital....
Accounting for Common Stock Issues        Issuing Par Value Common Stock for Cash        Illustration: Assume that Hydro-S...
Accounting for Common Stock Issues        Issuing Par Value Common Stock for Cash        Illustration: Assume that Hydro-S...
Accounting for Common Stock Issues                                              Illustration 13-713-31                    ...
Accounting for Common Stock Issues        Issuing Common Stock for Services or        Noncash Assets         C        Cost...
Accounting for Common Stock Issues        Illustration: Attorneys have helped Jordan Company        incorporate. They have...
Accounting for Common Stock Issues        Illustration: Athletic Research Inc. is an existing publicly held        corpora...
Accounting for Treasury Stock                             Common Stock                             Common Stock           ...
Accounting for Treasury Stock        Treasury stock - corporation’s own stock that it has        reacquired from sharehold...
Accounting for Treasury Stock        Purchase of Treasury Stock            Debit Treasury Stock for the price paid to rea...
Accounting for Treasury Stock                                                              Illustration 13-8   Illustratio...
Accounting for Treasury Stock        Stockholders’ Equity with Treasury stock                                             ...
13-40
Accounting for Treasury Stock        Disposal of Treasury Stock         Sale of Treasury Stock             Above Cost    ...
Accounting for Treasury Stock                                  Above                                                      ...
Accounting for Treasury Stock                                Below                                                        ...
Accounting for Treasury Stock                             Below                                                           ...
Preferred Stock        Features often associated with preferred stock.         1. Preference as to dividends.         2. P...
Preferred Stock        Illustration: Stine Corporation issues 10,000 shares of $10        par value preferred stock for $1...
Preferred Stock        Dividend Preferences            Right to receive dividends before common stockholders.           ...
Preferred Stock        Cumulative Dividend        Illustration: Scientific Leasing has 5,000 shares of 7%, $100        par...
Preferred Stock        Liquidation Preferences            Most preferred stocks have a preference on corporate           ...
Statement Presentation                                                      Illustration 13-1213-50                       ...
Key Points            Under IFRS, the term reserves is used to describe all equity             accounts other than those ...
Key Points            There are often terminology differences for equity accounts.             The following summarizes s...
Key Points            The accounting for treasury stock differs somewhat between             IFRS and GAAP. (However, man...
Key Points            A major difference between IFRS and GAAP relates to the             account Revaluation Surplus. Re...
Key Points            IFRS often uses terms such as retained profits or accumulated             profit or loss to describ...
Looking to the Future        As indicated in earlier discussions, the IASB and the FASB are        currently working on a ...
IFRS Self-Test Questions        Under IFRS, a purchase by a company of its own shares is        recorded by:         a) an...
IFRS Self-Test Questions        Which of the following is true?         a) In the United States, the primary corporate sto...
IFRS Self-Test Questions        Under IFRS, the amount of capital received in excess of par        value would be credited...
Copyright         “Copyright © 2011 John Wiley & Sons, Inc. All rights reserved.         Reproduction or translation of th...
Upcoming SlideShare
Loading in...5
×

ACC212_Weygandt_Chapter13

407

Published on

Published in: Education, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
407
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
9
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

ACC212_Weygandt_Chapter13

  1. 1. 13-1
  2. 2. CHAPTER13 Corporations: Organization and Capital Stock Transactions13-2
  3. 3. PreviewofCHAPTER1313-3
  4. 4. The Corporate Form of Organization An entity separate and distinct from its owners. Classified by Purpose Classified by Ownership  Not-for-Profit  Publicly held  For Profit  Privately held ► Salvation Army ► McDonald’s ► Cargill Inc. ► American Cancer ► Nike Society ► PepsiCo ► Google13-4
  5. 5. Characteristics of a Organization Characteristics that distinguish corporations from proprietorships and partnerships.  Separate Legal Existence  Limited Liability of Stockholders  Transferable Ownership Rights Advantages  Ability to Acquire Capital  Continuous Life  Government Regulations  Additional Taxes Disadvantages  Corporate Management13-5 SO 1 Identify the major characteristics of a corporation.
  6. 6. Characteristics of a Organization Characteristics that distinguish corporations from proprietorships and partnerships. Corporation acts  Separate Legal Existence under its own name  Limited Liability of Stockholders rather than in the name of its  Transferable Ownership Rights stockholders.  Ability to Acquire Capital  Continuous Life  Government Regulations  Additional Taxes  Corporate Management13-6 SO 1 Identify the major characteristics of a corporation.
  7. 7. Characteristics of a Organization Characteristics that distinguish corporations from proprietorships and partnerships.  Separate Legal Existence Limited to their  Limited Liability of Stockholders investment.  Transferable Ownership Rights  Ability to Acquire Capital  Continuous Life  Government Regulations  Additional Taxes  Corporate Management13-7 SO 1 Identify the major characteristics of a corporation.
  8. 8. Characteristics of a Organization Characteristics that distinguish corporations from proprietorships and partnerships.  Separate Legal Existence  Limited Liability of Stockholders Shareholders may  Transferable Ownership Rights sell their stock.  Ability to Acquire Capital  Continuous Life  Government Regulations  Additional Taxes  Corporate Management13-8 SO 1 Identify the major characteristics of a corporation.
  9. 9. Characteristics of a Organization Characteristics that distinguish corporations from proprietorships and partnerships.  Separate Legal Existence  Limited Liability of Stockholders  Transferable Ownership Rights Corporation can  Ability to Acquire Capital obtain capital through the issuance  Continuous Life of stock.  Government Regulations  Additional Taxes  Corporate Management13-9 SO 1 Identify the major characteristics of a corporation.
  10. 10. Characteristics of a Organization Characteristics that distinguish corporations from proprietorships and partnerships.  Separate Legal Existence  Limited Liability of Stockholders  Transferable Ownership Rights Continuance as a  Ability to Acquire Capital going concern is not affected by the  Continuous Life withdrawal, death, or  Government Regulations incapacity of a stockholder,  Additional Taxes employee, or officer.  Corporate Management13-10 SO 1 Identify the major characteristics of a corporation.
  11. 11. Characteristics of a Organization Characteristics that distinguish corporations from proprietorships and partnerships.  Se pa rat e Le ga l Ex ist en ce13-11 SO 1 Identify the major characteristics of a corporation.  Li
  12. 12. Characteristics of a Organization Characteristics that distinguish corporations from proprietorships and partnerships.  Separate Legal Existence  Limited Liability of Stockholders  Transferable Ownership Rights  Ability to Acquire Capital Corporations pay income taxes as a  Continuous Life separate legal entity  Government Regulations and in addition, stockholders pay  Additional Taxes taxes on cash  Corporate Management dividends.13-12 SO 1 Identify the major characteristics of a corporation.
  13. 13. Characteristics of a Organization Characteristics that distinguish corporations from proprietorships and partnerships.  Separate Legal Existence  Limited Liability of Stockholders  Transferable Ownership Rights Separation of  Ability to Acquire Capital ownership and management  Continuous Life prevents owners  Government Regulations from having an active role in  Additional Taxes managing the  Corporate Management company.13-13 SO 1 Identify the major characteristics of a corporation.
  14. 14. Characteristics of a Organization Stockholders Illustration 13-1 Corporation organization chart Chairman and Board of Directors President and Chief Executive Officer General Vice President Vice President Vice President Vice President Counsel and Finance/Chief Human Marketing Operations Secretary Financial Officer Resources Treasurer Controller13-14 SO 1 Identify the major characteristics of a corporation.
  15. 15. Forming a Corporation Initial Steps:  Formed by grant of a state charter.  Corporation develops by-laws. Companies generally incorporate in a state whose laws are favorable to the corporate form of business (Delaware, New Jersey). Corporations expense organization costs as incurred.13-15 SO 1 Identify the major characteristics of a corporation.
  16. 16. Ownership Rights of Stockholders Stockholders have the right to: Illustration 13-3 1. Vote in election of board of directors and on actions that require stockholder approval. 2. Share the corporate earnings through receipt of dividends.13-16 SO 1 Identify the major characteristics of a corporation.
  17. 17. Ownership Rights of Stockholders Stockholders have the right to: Illustration 13-3 3. Keep the same percentage ownership when new shares of stock are issued (preemptive right*). * A number of companies have eliminated the preemptive right.13-17 SO 1 Identify the major characteristics of a corporation.
  18. 18. Ownership Rights of Stockholders Stockholders have the right to: Illustration 13-3 4. Share in assets upon liquidation in proportion to their holdings. This is called a residual claim.13-18 SO 1 Identify the major characteristics of a corporation.
  19. 19. Ownership Rights of Stockholders Illustration 13-4 Prenumbered Class A Class AClass COMMON STOCK COMMON STOCK PAR VALUE PAR VALUE $1 PER SHARE $1 PER SHAREName of corporationStockholder’s name Shares Stock CertificateSignature of corporateofficial13-19 SO 1
  20. 20. Stock Issue Considerations Authorized Stock  Charter indicates the amount of stock that a corporation is authorized to sell.  Number of authorized shares is often reported in the stockholders’ equity section.13-20 SO 1 Identify the major characteristics of a corporation.
  21. 21. Stock Issue Considerations Issuance of Stock  Corporation can issue common stock directly to investors or indirectly through an investment banking firm.  Factors in setting price for a new issue of stock: 1. Company’s anticipated future earnings. 2. Expected dividend rate per share. 3. Current financial position. 4. Current state of the economy. 5. Current state of the securities market.13-21 SO 1 Identify the major characteristics of a corporation.
  22. 22. Stock Issue Considerations Market Value of Stock  Stock of publicly held companies is traded on organized exchanges.  Interaction between buyers and sellers determines the prices per share.  Prices tend to follow the trend of a company’s earnings and dividends.  Factors beyond a company’s control, may cause day-to- day fluctuations in market prices.13-22 SO 1 Identify the major characteristics of a corporation.
  23. 23. 13-23
  24. 24. Stock Issue Considerations Par and No-Par Value Stock  Years ago, par value determined the legal capital per share that a company must retain in the business for the protection of corporate creditors.  Today many states do not require a par value.  No-par value stock is quite common today.  In many states the board of directors assigns a stated value to no-par shares.13-24 SO 1 Identify the major characteristics of a corporation.
  25. 25. Corporate Capital Common Stock Common Stock Account Account Paid-in Capital in Paid-in Capital in Paid-in Capital Paid-in Capital Excess of Par Excess of Par Account Account Preferred Stock Preferred Stock Account Account Two Primary Sources of Retained Earnings Retained Earnings Account Account Equity Paid-in capital is the total amount of cash and other assets paid in to the corporation by stockholders in exchange for capital stock.13-25 SO 2 Differentiate between paid-in capital and retained earnings.
  26. 26. Corporate Capital Common Stock Common Stock Account Account Additional Paid-in Additional Paid-in Paid-in Capital Paid-in Capital Capital Capital Account Account Preferred Stock Preferred Stock Account Account Two Primary Sources of Retained Earnings Retained Earnings Account Account Equity Retained earnings is net income that a corporation retains for future use.13-26 SO 2 Differentiate between paid-in capital and retained earnings.
  27. 27. Corporate Capital Comparison of the owners’ equity (stockholders’ equity) accounts reported on a balance sheet for a proprietorship, a partnership, and a corporation. Illustration 13-613-27 SO 2 Differentiate between paid-in capital and retained earnings.
  28. 28. Accounting for Common Stock Issues Primary objectives: 1) Identify the specific sources of paid-in capital. 2) Maintain the distinction between paid-in capital and retained earnings. Other than consideration received, the issuance of common stock affects only paid-in capital accounts.13-28 SO 3 Record the issuance of common stock.
  29. 29. Accounting for Common Stock Issues Issuing Par Value Common Stock for Cash Illustration: Assume that Hydro-Slide, Inc. issues 1,000 shares of $1 par value common stock at par for. Prepare the journal entry. Cash 1,000 Common stock (1,000 x $1) 1,00013-29 SO 3 Record the issuance of common stock.
  30. 30. Accounting for Common Stock Issues Issuing Par Value Common Stock for Cash Illustration: Assume that Hydro-Slide, Inc. issues 2,000 shares of $1 par value common stock. Prepare Hydro-Slide’s journal entry if (a) 1,000 share are issued for $1 per share, and (b) 1,000 shares are issued for $5 per share. a. Cash 1,000 Common stock (1,000 x $1) 1,000 b. Cash 5,000 Common stock (1,000 x $1) 1,000 Paid-in capital in excess of par value 4,00013-30 SO 3 Record the issuance of common stock.
  31. 31. Accounting for Common Stock Issues Illustration 13-713-31 SO 3 Record the issuance of common stock.
  32. 32. Accounting for Common Stock Issues Issuing Common Stock for Services or Noncash Assets C Cost is either the fair market value of the consideration given up, or the fair market value of the consideration received, whichever is more clearly determinable.13-32 SO 3 Record the issuance of common stock.
  33. 33. Accounting for Common Stock Issues Illustration: Attorneys have helped Jordan Company incorporate. They have billed the company $5,000 for their services. They agree to accept 4,000 shares of $1 par value common stock in payment of their bill. At the time of the exchange, there is no established market price for the stock. Prepare the journal entry for this transaction. Organizational expense 5,000 Common stock (4,000 x $1) 4,000 Paid-in capital in excess of par 1,00013-33 SO 3 Record the issuance of common stock.
  34. 34. Accounting for Common Stock Issues Illustration: Athletic Research Inc. is an existing publicly held corporation. Its $5 par value stock is actively traded at $8 per share. The company issues 10,000 shares of stock to acquire land recently advertised for sale at $90,000. Prepare the journal entry for this transaction. Land (10,000 x $8) 80,000 Common stock (10,000 x $5) 50,000 Paid-in capital in excess of par 30,00013-34 SO 3 Record the issuance of common stock.
  35. 35. Accounting for Treasury Stock Common Stock Common Stock Account Account Paid-in Capital in Paid-in Capital in Paid-in Capital Paid-in Capital Excess of Par Excess of Par Account Account Preferred Stock Preferred Stock Account Account Two Primary Sources of Retained Earnings Retained Earnings Account Account Equity Less: Less: Treasury Stock Treasury Stock Account Account13-35 SO 4 Explain the accounting for treasury stock.
  36. 36. Accounting for Treasury Stock Treasury stock - corporation’s own stock that it has reacquired from shareholders, but not retired. Corporations purchase their outstanding stock: 1. To reissue the shares to officers and employees under bonus and stock compensation plans. 2. To enhance the stock’s market value. 3. To have additional shares available for use in the acquisition of other companies. 4. To increase earnings per share.13-36 SO 4 Explain the accounting for treasury stock.
  37. 37. Accounting for Treasury Stock Purchase of Treasury Stock  Debit Treasury Stock for the price paid to reacquire the shares.  Treasury stock is a contra stockholders’ equity account, not an asset.  Purchase of treasury stock reduces stockholders’ equity.13-37 SO 4 Explain the accounting for treasury stock.
  38. 38. Accounting for Treasury Stock Illustration 13-8 Illustration: On February 1, 2012, Mead acquires 4,000 shares of its stock at $8 per share. Treasury stock (4,000 x $8) 32,000 Cash 32,00013-38 SO 4 Explain the accounting for treasury stock.
  39. 39. Accounting for Treasury Stock Stockholders’ Equity with Treasury stock Illustration 13-9 Both the number of shares issued (100,000), outstanding (96,000), and the number of shares held as treasury (4,000) are disclosed.13-39 SO 4 Explain the accounting for treasury stock.
  40. 40. 13-40
  41. 41. Accounting for Treasury Stock Disposal of Treasury Stock Sale of Treasury Stock  Above Cost  Below Cost Both increase total assets and stockholders’ equity.13-41 SO 4 Explain the accounting for treasury stock.
  42. 42. Accounting for Treasury Stock Above Cost Illustration: On July 1, Mead sells for $10 per share 1,000 shares of its treasury stock, previously acquired at $8 per share. July 1 Cash 10,000 Treasury stock 8,000 Paid-in capital treasury stock 2,000 A corporation does not realize a gain or suffer a loss from stock transactions with its own stockholders.13-42 SO 4 Explain the accounting for treasury stock.
  43. 43. Accounting for Treasury Stock Below Cost Illustration: On Oct. 1, Mead sells an additional 800 shares of treasury stock at $7 per share. Oct. 1 Cash 5,600 Paid-in capital treasury stock 800 Treasury stock 6,400 Illustration 13-1013-43 SO 4 Explain the accounting for treasury stock.
  44. 44. Accounting for Treasury Stock Below Cost Illustration: On Dec. 1, assume that Mead, Inc. sells its remaining 2,200 shares at $7 per share. Dec. 1 Cash 15,400 Limited to Paid-in capital treasury stock 1,200 balance on Retained earnings 1,000 hand Treasury stock 17,60013-44 SO 4 Explain the accounting for treasury stock.
  45. 45. Preferred Stock Features often associated with preferred stock. 1. Preference as to dividends. 2. Preference as to assets in liquidation. 3. Nonvoting. Accounting for preferred stock at issuance is similar to that for common stock.13-45 SO 5 Differentiate preferred stock from common stock.
  46. 46. Preferred Stock Illustration: Stine Corporation issues 10,000 shares of $10 par value preferred stock for $12 cash per share. Journalize the issuance of the preferred stock. Cash 120,000 Preferred stock (10,000 x $10) 100,000 Paid-in capital in excess of par – Preferred stock 20,000 Preferred stock may have a par value or no-par value.13-46 SO 5 Differentiate preferred stock from common stock.
  47. 47. Preferred Stock Dividend Preferences  Right to receive dividends before common stockholders.  Per share dividend amount is stated as a percentage of the preferred stock’s par value or as a specified amount.  Cumulative dividend – holders of preferred stock must be paid their annual dividend plus any dividends in arrears before common stockholders receive dividends.13-47 SO 5 Differentiate preferred stock from common stock.
  48. 48. Preferred Stock Cumulative Dividend Illustration: Scientific Leasing has 5,000 shares of 7%, $100 par value, cumulative preferred stock outstanding. Each $100 share pays a $7 dividend (.07 x $100). The annual dividend is $35,000 (5,000 x $7 per share). If dividends are two years in arrears, preferred stockholders are entitled to receive the following dividends in the current year.13-48 SO 5 Differentiate preferred stock from common stock.
  49. 49. Preferred Stock Liquidation Preferences  Most preferred stocks have a preference on corporate assets if the corporation fails.  Provides security for the preferred stockholder.  Preference to assets may be for the par value of the shares or for a specified liquidating value.13-49 SO 5 Differentiate preferred stock from common stock.
  50. 50. Statement Presentation Illustration 13-1213-50 SO 6 Prepare a stockholders’ equity section.
  51. 51. Key Points  Under IFRS, the term reserves is used to describe all equity accounts other than those arising from contributed (paid-in) capital. This would include, for example, reserves related to retained earnings, asset revaluations, and fair value differences.  Many countries have a different mix of investor groups than in the United States. For example, in Germany, financial institutions like banks are not only major creditors of corporations but often are the largest corporate stockholders as well. In the United States, Asia, and the United Kingdom, many companies rely on substantial investment from private investors.13-51
  52. 52. Key Points  There are often terminology differences for equity accounts. The following summarizes some of the common differences in terminology.13-52
  53. 53. Key Points  The accounting for treasury stock differs somewhat between IFRS and GAAP. (However, many of the differences are beyond the scope of this course.) Like GAAP, IFRS does not allow a company to record gains or losses on purchases of its own shares. One difference worth noting is that, when a company purchases its own shares, IFRS treats it as a reduction of stockholders’ equity, but it does not specify which particular stockholders’ equity accounts are to be affected. Therefore, it could be shown as an increase to a contra equity account (Treasury Stock) or a decrease to retained earnings or share capital. IFRS requires that the number of treasury shares held be disclosed.13-53
  54. 54. Key Points  A major difference between IFRS and GAAP relates to the account Revaluation Surplus. Revaluation surplus arises under IFRS because companies are permitted to revalue their property, plant, and equipment to fair value under certain circumstances. This account is part of general reserves under IFRS and is not considered contributed capital.  As indicated earlier, the term reserves is used in IFRS to indicate all non-contributed (non–paid-in) capital. Reserves include retained earnings and other comprehensive income items, such as revaluation surplus and unrealized gains or losses on available-for-sale securities.13-54
  55. 55. Key Points  IFRS often uses terms such as retained profits or accumulated profit or loss to describe retained earnings. The term retained earnings is also often used.  The accounting related to prior period adjustments is essentially the same under IFRS and GAAP. One area where IFRS and GAAP differ in reporting relates to error corrections in previously issued financial statements. While IFRS requires restatement with some exceptions, GAAP does not permit any exceptions.  Equity is given various descriptions under IFRS, such as shareholders’ equity, owners’ equity, capital and reserves, and shareholders’ funds.13-55
  56. 56. Looking to the Future As indicated in earlier discussions, the IASB and the FASB are currently working on a project related to financial statement presentation. An important part of this study is to determine whether certain line items, subtotals, and totals should be clearly defined and required to be displayed in the financial statements. For example, it is likely that the statement of stockholders’ equity and its presentation will be examined closely. In addition, the options of how to present other comprehensive income under GAAP will change in any converged standard.13-56
  57. 57. IFRS Self-Test Questions Under IFRS, a purchase by a company of its own shares is recorded by: a) an increase in Treasury Stock. b) a decrease in contributed capital. c) a decrease in share capital. d) All of these are acceptable treatments13-57
  58. 58. IFRS Self-Test Questions Which of the following is true? a) In the United States, the primary corporate stockholders are financial institutions. b) Share capital means total assets under IFRS. c) The IASB and FASB are presently studying how financial statement information should be presented. d) The amount to treasury stock is very different between U.S. GAAP and IFRS.13-58
  59. 59. IFRS Self-Test Questions Under IFRS, the amount of capital received in excess of par value would be credited to: a) Retained Earnings. b) Contributed Capital. c) Share Premium. d) Par value is not used under IFRS.13-59
  60. 60. Copyright “Copyright © 2011 John Wiley & Sons, Inc. All rights reserved. Reproduction or translation of this work beyond that permitted in Section 117 of the 1976 United States Copyright Act without the express written permission of the copyright owner is unlawful. Request for further information should be addressed to the Permissions Department, John Wiley & Sons, Inc. The purchaser may make back-up copies for his/her own use only and not for distribution or resale. The Publisher assumes no responsibility for errors, omissions, or damages, caused by the use of these programs or from the use of the information contained herein.”13-60
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×