Homework Answers
Solution:
| OSGOOD FILM STUDIOS | ||||||
| Statement of Shareholders` Equity | ||||||
| For Year Ended December 31, 2019 |
| Preferred Stock $100 par | Common Stock $2 par | Additional Paid-in Capital On Preferred Stock | Additional Paid-in Capital On Common Stock | Retained Earnings | Total | Calculations | |
| Balance, 1/1/19 | $ 96,000 | $ 84,200 | $ 19,200 | $ 178,925 | $ 160,000 | $ 538,325 | Given |
| Common Stock Issued | $ 8,600 | $ 30,100 | $ 38,700 | (4300*2),(4300*7) | |||
| Preferred Stock Issued | $ 44,000 | $ 14,960 | $ 58,960 | (440*100)(440*34) | |||
| Net income | $ 81,000 | $ 81,000 | Given | ||||
| Cash dividend paid on preferred | $ (15,400) | $ (15,400) | (960+440)Shares*$ 11 | ||||
| Cash dividend paid on common | $ (78,880) | $ (78,880) | (42100+4300)Shares*$ 1.7 | ||||
| Balances, 12/31/19 | $ 140,000 | $ 92,800 | $ 34,160 | $ 209,025 | $ 146,720 | $ 622,705 |
Notes:
1) Total Common stock = Opening + Additional issue = [$84200 / $2 par ] + 4300 = 46,400 Shares
2) Total Preferred stock = Opening + Additional issue = [ $96,000 / $100 par ] + 440 = 1,400 Shares
3) Dividends is calculated on total outstanding shares at year end 2019
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On January 1, 2019, Osgood Film Studios reported the following phabetical list of shareholders' equity Items:...
Please explain how to get the answers to the missing blanks. Statement of Shareholders' Equity On...
Please explain how to get the answers to the missing blanks.
Statement of Shareholders' Equity On January 1, 2019, Osgood Film Studios reported the following alphabetical list of shareholders' equity items: Additional paid-in capital on common stock $135,150 Additional paid-in capital on preferred stock 19,000 Common stock, $2 par 63,600 Preferred stock, $100 par 95,000 Retained earnings 174,000 During 2019, the company sold 2,800 shares of common stock for $13 per share and 380 shares of preferred stock for $128...
Statement of Shareholders' Equity On January 1, 2019, Powder Company provided the following shareholders' equity section...
Statement of Shareholders'
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shareholders' equity section of its balance sheet: Contributed
Capital:
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Vaughn Company reported the following amounts in the stockholders' equity section of its December 31, 2019,...
Vaughn Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 11%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (92,500 shares authorized, 18,500 shares issued) 92,500 Additional paid-in capital 120,000 Retained earnings 413,000 Total $825,500 During 2020, Vaughn took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $11 per share dividend on preferred stock and a $2 per share dividend...
Problem 18-158 On January 1, 2018, Fascom had the following account balances in its shareholders' equity...
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Comprehensive Dakota Corporation had the following shareholders' equity account balances at December 31, 2018: Preferred stock...
Comprehensive Dakota Corporation had the following shareholders' equity account balances at December 31, 2018: Preferred stock $1,800,000 Additional paid-in capital on preferred stock 90,000 Common stock 5,150,000 Additional paid-in capital on common stock 3,500,000 Retained earnings 4,000,000 Unrealized decrease in value of marketable equity securities 245,000 Treasury common stock 270,000 Transactions during 2019 and other information relating to the shareholders' equity accounts were as follows: 1. Dakota's preferred and common shares are traded on the over-the-counter market. At December 31,...
On January 1, 2018, Fascom had the following account balances in its shareholders' equity accounts. Common...
On January 1, 2018, Fascom had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 242,000 shares issued Paid-in capital - excess of par, common Paid-in capital - excess of par, preferred Preferred stock, $100 par, 19,000 shares outstanding Retained earnings Treasury stock, at cost, 4,200 shares 242,000 484,000 190,000 1,900,000 3,800,000 21,000 During 2018, Fascom Inc. had several transactions relating to common stock. January 15: Declared a property dividend of 100,000 shares of Slowdown Company...
Oriole Company reported the following amounts in the stockholders' equity section of its December 31, 2019,...
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Accounting for Shareholders’ Equity Transactions The shareholders’ equity section of the balance sheet of The Claremont...
Accounting for Shareholders’ Equity
Transactions
The shareholders’ equity section of the balance sheet of The
Claremont Company appeared as follows at the end of the first year
of operations:
Common stock, $0.1 par value
$600,000
Additional paid-in-capital
89,400,000
Retained earnings
32,000,000
Treasury stock
(7,500,000)
Shareholders’ equity
$114,500,000
During the second year of operations, the following transactions
occurred:
Generated net income of $6 million.
Paid a cash dividend of $1.5 million.
Purchased 100,000 shares of common stock at $9.5 per
share....
Please explain how to get the answers to the missing blanks.
Statement of Shareholders' Equity On January 1, 2019, Osgood Film Studios reported the following alphabetical list of shareholders' equity items: Additional paid-in capital on common stock $135,150 Additional paid-in capital on preferred stock 19,000 Common stock, $2 par 63,600 Preferred stock, $100 par 95,000 Retained earnings 174,000 During 2019, the company sold 2,800 shares of common stock for $13 per share and 380 shares of preferred stock for $128...
Statement of Shareholders'
Equity On January 1, 2019, Powder Company provided the following
shareholders' equity section of its balance sheet: Contributed
Capital:
ptatement of Snarenolders' Equity on January 1, 2019, Powder Company provided the following shareholders' equity section of its balance sheet: Contributed Capital: Preferred stock, $100 par $ 92,700 37,400 21,500 Common stock, $5 par Additional paid-in capital on preferred stock Additional paid-in capital on common stock Total contributed capital Retained earnings 58,700 $210,300 185,000 Total Shareholders' Equity $395,300...
Vaughn Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 11%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (92,500 shares authorized, 18,500 shares issued) 92,500 Additional paid-in capital 120,000 Retained earnings 413,000 Total $825,500 During 2020, Vaughn took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $11 per share dividend on preferred stock and a $2 per share dividend...
Vaughn Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 11%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (92,500 shares authorized, 18,500 shares issued) 92,500 Additional paid-in capital 120,000 Retained earnings 413,000 Total $825,500 During 2020, Vaughn took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $11 per share dividend on preferred stock and a $2 per share dividend...
Problem 18-158 On January 1, 2018, Fascom had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 258,00 shares issued Paid-in capital - excess of par, common Paid-in capital - excess of par, preferred Preferred stock, $100 par, 14,000 shares outstanding Retained earnings Treasury stock, at cost, 5,800 shares 258, eee 516, eee 14e.ee 1,400, eee 2,800,000 29, eee During 2018, Fascom Inc. had several transactions relating to common stock. January 15: Declared a property dividend...
Comprehensive Dakota Corporation had the following shareholders' equity account balances at December 31, 2018: Preferred stock $1,800,000 Additional paid-in capital on preferred stock 90,000 Common stock 5,150,000 Additional paid-in capital on common stock 3,500,000 Retained earnings 4,000,000 Unrealized decrease in value of marketable equity securities 245,000 Treasury common stock 270,000 Transactions during 2019 and other information relating to the shareholders' equity accounts were as follows: 1. Dakota's preferred and common shares are traded on the over-the-counter market. At December 31,...
On January 1, 2018, Fascom had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 242,000 shares issued Paid-in capital - excess of par, common Paid-in capital - excess of par, preferred Preferred stock, $100 par, 19,000 shares outstanding Retained earnings Treasury stock, at cost, 4,200 shares 242,000 484,000 190,000 1,900,000 3,800,000 21,000 During 2018, Fascom Inc. had several transactions relating to common stock. January 15: Declared a property dividend of 100,000 shares of Slowdown Company...
Oriole Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (102,000 shares authorized, 20,400 shares issued) 102,000 Additional paid-in capital 120,000 Retained earnings 495,000 Total $917,000 During 2020, Oriole took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend...
Accounting for Shareholders’ Equity
Transactions
The shareholders’ equity section of the balance sheet of The
Claremont Company appeared as follows at the end of the first year
of operations:
Common stock, $0.1 par value
$600,000
Additional paid-in-capital
89,400,000
Retained earnings
32,000,000
Treasury stock
(7,500,000)
Shareholders’ equity
$114,500,000
During the second year of operations, the following transactions
occurred:
Generated net income of $6 million.
Paid a cash dividend of $1.5 million.
Purchased 100,000 shares of common stock at $9.5 per
share....
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