Homework Answers
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Dirk Company |
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Balance sheet(Partial) |
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Shareholder's Equity |
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Common stock |
$ 5,00,000.00 |
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Paid in capital in excess of Par- Common stock value |
$ 1,00,000.00 |
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Preference stock |
$ 1,25,000.00 |
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Paid in capital in excess of Par- Preferred stock |
$ 75,000.00 |
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Retained earnings |
$ 3,74,000.00 |
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Treasury stock (at cost) |
$ (40,000.00) |
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Total Shareholder's equity |
$ 11,34,000.00 |
Treasury stock is the own stock that a company has purchased from market. Treasury stock act as a contra equity account.
Retained earnings ending balance = Beginning balance + net income –dividends (250000+180000-56000=$374000)
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E14-10
following balances at December 31, 2016: common stock $500,000, paid-in capital in excess of par...
Dirk Company reported the following balances at December 31, 2018: common stock $500,000, paid-in capital in...
Dirk Company reported the following balances at December 31, 2018: common stock $500,000, paid-in capital in excess of par value-common stock $100,000, and retained earnings $250,000. During 2019, the following transactions affected stockholders' equity 1. Issued preferred stock with a par value of $125,000 for $200,000. 2. Purchased treasury stock (common) for $40,000. 3. Earned net income of $180,000, 4. Declared and paid cash dividends of $56,000. Prepare the stockholders' equity section of Dirk Company's December 31, 2019, balance sheet....
Exercise 11-21 Dirk Company reported the following balances at December 31, 2016: common stock $391,000, paid-in...
Exercise 11-21 Dirk Company reported the following balances at December 31, 2016: common stock $391,000, paid-in capital in excess of par value—common stock $109,000, and retained earnings $242,000. During 2017, the following transactions affected stockholders' equity. 1. Issued preferred stock with a par value of $122,000 for $204,000. 2. Purchased treasury stock (common) for $39,000. 3. Earned net income of $143,500. 4. Declared and paid cash dividends of $51,000. Prepare the stockholders’ equity section of Dirk Company’s December 31, 2017,...
Ex:8 Slate Corporation had the following balances in its stockholders' equity accounts December 31, 2017: Common...
Ex:8 Slate Corporation had the following balances in its stockholders' equity accounts December 31, 2017: Common Stock, $10 par, 500,000 shares authorized, 20,000 shares issued. $200,000 Paid-in Capital in Excess of Par Value, Common 250,000 Retained Earnings ........ 500,000 Treasury Stock, 1,000 shares ....... 20,000) Total stockholders' equity ............ ..... $930,000 The following transactions occurred during 2018: February 3 May 10 October 12 December 31 Sold and issued 2,000 shares of common stock for $22 per share. Declared a $0.50...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$10 par...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$10 par value, 100,000 shares authorized, 50,000 shares issued and outstanding $500,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 400,000 Total stockholders' equity $980,000 In year 2017, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 4,000 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable on...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$10 par...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$10 par value, 100,000 shares authorized, 60,000 shares issued and outstanding $600,000 Paid-in capital in excess of par value, common stock 60,000 Retained earnings 400,000 Total stockholders' equity $1,060,000 In year 2017, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 5,500 shares of its own stock at $15 cash per share. Jan. 5 Directors declared a $6 per share cash dividend payable on...
Stockholders' Equity (December 31, 2016) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and...
Stockholders' Equity (December 31, 2016) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 75,000 410,000 $ 985,000 Stockholders' Equity (December 31, 2017) Common stock-$10 par value, 130,000 shares authorized, 56, 370 shares issued, 4,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($90,000 restricted by treasury stock) $ 563,700 151, 440 740,000 1,455, 140...
Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par...
Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 70,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $1,125,000 90,000 392,000 $1,607,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts. 2 Purchased 4,500 shares of its own stock at $25 cash per share. 7 Directors declared a $1.50 per share cash dividend payable on February 28...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$20 par...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $ 1,100,000 Paid-in capital in excess of par value, common stock 70,000 Retained earnings 430,000 Total stockholders' equity $ 1,600,000 In year 2017, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 4,000 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $4 per share cash dividend...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$25 par...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$25 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 1,000,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 460,000 Total stockholders' equity $ 1,540,000 In year 2017, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 5,000 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $2 per share cash dividend...
Alexander Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$25 par...
Alexander Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$25 par value, 60,000 shares authorized, 39,000 shares issued and outstanding $ 975,000 Paid-in capital in excess of par value, common stock 78,000 Retained earnings 371,000 Total stockholders’ equity $ 1,424,000 In year 2017, the following transactions affected its stockholders’ equity accounts. Jan. 2 Purchased 3,900 shares of its own stock at $25 cash per share. Jan. 7 Directors declared a $1.50 per share cash dividend...
Dirk Company reported the following balances at December 31, 2018: common stock $500,000, paid-in capital in excess of par value-common stock $100,000, and retained earnings $250,000. During 2019, the following transactions affected stockholders' equity 1. Issued preferred stock with a par value of $125,000 for $200,000. 2. Purchased treasury stock (common) for $40,000. 3. Earned net income of $180,000, 4. Declared and paid cash dividends of $56,000. Prepare the stockholders' equity section of Dirk Company's December 31, 2019, balance sheet....
Ex:8 Slate Corporation had the following balances in its stockholders' equity accounts December 31, 2017: Common Stock, $10 par, 500,000 shares authorized, 20,000 shares issued. $200,000 Paid-in Capital in Excess of Par Value, Common 250,000 Retained Earnings ........ 500,000 Treasury Stock, 1,000 shares ....... 20,000) Total stockholders' equity ............ ..... $930,000 The following transactions occurred during 2018: February 3 May 10 October 12 December 31 Sold and issued 2,000 shares of common stock for $22 per share. Declared a $0.50...
Stockholders' Equity (December 31, 2016) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 75,000 410,000 $ 985,000 Stockholders' Equity (December 31, 2017) Common stock-$10 par value, 130,000 shares authorized, 56, 370 shares issued, 4,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($90,000 restricted by treasury stock) $ 563,700 151, 440 740,000 1,455, 140...
Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 70,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $1,125,000 90,000 392,000 $1,607,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts. 2 Purchased 4,500 shares of its own stock at $25 cash per share. 7 Directors declared a $1.50 per share cash dividend payable on February 28...
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