Select the best term for each definition below. Definitions Terms Check my a. Shareholders can lose no more than the amount they invest in the company b. Corporate earnings are taxed twice-at the corporate level and individual shareholder level c. Like an S corporation, but there are no limitations on the number of owners as in an S corporation d. Traces the line of authority within the corporation e. Allows for legal treatment as a corporation, but tax treatment as a partnership f. Has stock traded on a stock exchange such as the New York Stock Exchange (NYSE) 9. The first time a corporation issues stock to the public h. Describes (a) the nature of the firm's business activities, (b) the shares to be issued, and (c) the composition of the initial board of directors Limited ability Limited liability company Organization chart Publicly held corporation S Corporation ences Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. March May June 1 Issues 50,000 additional shares of $1 par value common stock for $47 per share. 10 Purchases 4,500 shares of treasury stock for $50 per share. 1 Declares a cash dividend of $1.25 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,250 shares of treasury stock purchased on May 10 for $55 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 Record the issuance of 50,000 additional shares of $1 par value common stock for $47 per share. Note: Enter debits before credits