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Wicked Wild Company | |||||
Answer to requirement 1 | |||||
Date | Account | Debit $ | Credit $ | ||
1-Jan | Bank | 140,000.00 | |||
Common Stock | 20,000.00 | This is 20,000 shares* $ 1. | |||
Additional paid in capital- Common Stock | 120,000.00 | This is $ 140,000- $ 20,000. | |||
10-Jan | Land | 300,000.00 | |||
2% Preferred Stock | 100,000.00 | This is 10,000 shares* $ 10. | |||
Additional paid in capital- Preferred Stock | 200,000.00 | This is $ 300,000- $ 100,000. | |||
15-Dec | Retained Earnings | 12,000.00 | |||
Dividend Payable- Preferred Stock | 2,000.00 | This is 2 % of $ 100,000. | |||
Dividend Payable- Common Stock | 10,000.00 | This is $ 12,000- $ 2,000. | |||
20-Dec | Retained Earnings | 3,200.00 | This is 2 % of 20,000 common shares= 400 shares. 400 shares* market value $ 8= $ 3,200. | ||
Stock Dividend Payable- Common Stock | 3,200.00 | ||||
31-Dec | Dividend Payable- Preferred Stock | 2,000.00 | |||
Dividend Payable- Common Stock | 10,000.00 | ||||
Bank | 12,000.00 | ||||
31-Dec | Stock Dividend Payable- Common Stock | 3,200.00 | |||
Common Stock | 400.00 | This is 400 shares* $ 1 | |||
Additional paid in capital- Common Stock | 2,800.00 | This is $ 3,200- $ 400. |
Answer to requirement 2 | ||
Retained Earnings December 31, 2021: | Amount $ | |
Retained Earnings Jan 1, 2021 | - | |
Add: Net Income | 427,000.00 | |
Less: Cash Dividend | 12,000.00 | |
Less: Stock Dividend | 3,200.00 | |
Retained Earnings December 31, 2021: | 411,800.00 |
Answer to requirement 3 | ||
Stockholder's Equity | ||
Paid-In Capital: | Amount $ | Amount $ |
Preferred 2% Stock, $10 par | ||
-10,000 shares issued | 100,000.00 | |
Paid-In Capital in Excess of Par-Preferred Stock | 200,000.00 | 300,000.00 |
Common Stock, $1 par | ||
-20,400 shares issued | 20,400.00 | |
Paid-In Capital in Excess of Par-Common Stock | 122,800.00 | 143,200.00 |
Total Paid-In Capital | 443,200.00 | |
Retained Earnings | 411,800.00 | |
Total Stockholder's Equity | 855,000.00 |
Alison Weld, owner of Wicked Wild Company, decides to start a new company that will be...
11 of 13 (0 complete) - X following stockhold Data Table Stockholders' Equity Paid-In Capital: Common Stock-$15 Par Value: 150,000 shares Select the explana authorized, 25,000 shares issued and outstanding 375,000 was $29 per sha 390,000 Paid-In Capital in Excess of Par-Common Credit Total Paid-In Capital 765,000 163.000 Retained Earnings $ 928,000 Total Stockholders' Equity Print Done - X Credit More Info Feb Declared a 15% stock dividend on common stock The market value of Heitman's stock was $29 per...
On January 1, 2018, Cooley, Inc. decides to invest in 8,750 shares of Yearling stock when the stock is selling for $11 per share. On June 1, 2018. Yearling paid a $1.20 per share cash dividend to stockholders. On December 31, 2018, Yearling reports net income of $70,000 for 2018. Assume Yearling has 25,000 shares of voting stock outstanding during 2018 and Cooley has significant influence over Yearling Read the requirements Requirement 1. Identify what type of investment the Yearling...
ed ips down the Amazon River in South America Adnaly the company wasts Wicked Wild Company is considering in additional capital for further expansion The company wants to finance a new business venture into to add another busing on the land to or more services for local customers Cache icon to viewing the financing information) Read the team Requirement 1. Will the bonds is at faceva a premium or a discount? Wicked Wild's bonds will be issued at because Requirement....
Need asap thanks Wicked Wild Company's Anya and Zion Wallace are pleased with the growth of their business and have decided to invest its temporary excess cash in a brokerage account. The company had the following securities transactions in 2019 i (Click the icon to view the securities transactions.) Read the requirements. Requirement 1. Journalize the transactions including any entries, if required, at December 31, 2019. (Record debits first, then credits. Select the explanation on the last line of the...
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M y Wa U h ow Business venture into guided trips down the Amazon River in South America. Additionally, the company wants to add an building on their land to offer more services for local customers. (Click the icon to viewing the financing information) Read the tesuirements Requirement 1. Will the bonds issue at face value, a premium, or a discount? Outdoor Adventure's bonds will be issued at because Requirement 2. Record the following transactions Include dates and round to...
horngren > Continuing Problem P13-54 Journalizing stock issuances, cash dividends, and stock dividends, preparing stockholders' equity section of balance sheet This problem continues the Canyon Canoe Company situation from Chapter 12. Amber Wilson, owner of Canyon Canoe Company, decides to start a new company that will be operated as a corporation, Outdoor Equipment Incorporated (OET). This company will sell outdoor clothing and equipment Canyon Canoe Company had the following select transactions in 2021: Jan. 1 Issued 50,000 shares of $1...