1 | Date | Account titles and explanation | Debit | Credit | ||
2021 | ||||||
Cash | 450 | |||||
Preferred stock | 10 | |||||
Additional paid-in capital | 440 | |||||
(Sale of preferred stock) | ||||||
Cash | 54 | |||||
Common stock | 9 | |||||
Additional paid-in capital | 45 | |||||
(Sale of common shares) | ||||||
Preferred dividend | 1 | |||||
Preferred dividend payable | 1 | |||||
(Preferred dividend declared) | ||||||
Preferred dividend payable | 1 | |||||
Cash | 1 | |||||
(Preferred dividend paid) | ||||||
Dividends | 14 | |||||
Dividend payable | 14 | |||||
(Common dividend declared) | ||||||
Dividend payable | 14 | |||||
Cash | 14 | |||||
(Common dividend paid) | ||||||
Income summary | 240 | |||||
Retained earnings | 240 | |||||
(Net income recorded) | ||||||
Retained earnings | 15 | |||||
Preferred dividend | 1 | |||||
Dividends | 14 | |||||
(Dividend closed) | ||||||
2022 | ||||||
Retained earnings | 10 | |||||
Common stock | 6 | |||||
Additional paid-in capital | 30 | |||||
Cash | 46 | |||||
(Retirement of shares) | ||||||
Preferred dividend | 1 | |||||
Preferred dividend payable | 1 | |||||
(Preferred dividend declared) | ||||||
Preferred dividend payable | 1 | |||||
Cash | 1 | |||||
(Preferred dividend paid) | ||||||
Dividends | 18 | |||||
Dividend payable | 18 | |||||
(Common dividend declared) | ||||||
Dividend payable | 18 | |||||
Cash | 18 | |||||
(Common dividend paid) | ||||||
Additional paid-in capital | 5 | |||||
Preferred stock | 5 | |||||
(3-for-2 split effected in the form | ||||||
of dividend) | ||||||
Income summary | 390 | |||||
Retained earnings | 390 | |||||
(Net income recorded) | ||||||
Retained earnings | 19 | |||||
Preferred dividend | 1 | |||||
Dividends | 18 | |||||
(Dividend closed) | ||||||
2023 | ||||||
Retained earnings | 59 | |||||
Common stock | 9 | |||||
Additional paid-in capital | 50 | |||||
(Common stock dividend) | ||||||
Preferred dividend | 1 | |||||
Preferred dividend payable | 1 | |||||
(Preferred dividend declared) | ||||||
Preferred dividend payable | 1 | |||||
Cash | 1 | |||||
(Preferred dividend paid) | ||||||
Dividends | 20 | |||||
Dividend payable | 20 | |||||
(Common dividend declared) | ||||||
Dividend payable | 20 | |||||
Cash | 20 | |||||
(Common dividend paid) | ||||||
Income summary | 432 | |||||
Retained earnings | 432 | |||||
(Net income recorded) | ||||||
Retained earnings | 21 | |||||
Preferred dividend | 1 | |||||
Dividends | 20 | |||||
(Dividend closed) | ||||||
2 | Shareholder's equity section | |||||
2023 | 2022 | |||||
Paid in capital: | ||||||
Preferred stock | 15 | 15 | ||||
Common stock | 72 | 63 | ||||
Additional paid-in capital | 800 | 750 | ||||
Total Paid in capital | 887 | 828 | ||||
Retained earnings | 2578 | 2226 | ||||
Total shareholder's equity | 3465 | 3054 | ||||
Comparative statements of shareholders' equity for Anaconda International Corporation were reported as follows for the fiscal...
Comparative statements of shareholders’ equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2021, 2022, and 2023. Required: 1. Infer from the statements the events and transactions that affected Anaconda International Corporation’s shareholders’ equity during 2021, 2022, and 2023. Prepare the journal entries that reflect those events and transactions. (Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.) 2. Prepare the shareholders’...
Comparative statements of shareholders' equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2021 2022 and 2023 Total . Shareholders Equity 2,214 840 360 ANACONDA INTERNATIONAL CORPORATION Statements of Shareholders Equity For the Years Ended Dec. 31, 2021, 2022, and 2023 ($ in millions) Preferred Common Additional Stock Stock Paid In Retained $10 par $1 par Capital Earnings Balance at January 1, 2021 1,794 Sale of preferred shares 829 Sale of common shares...
Ched Comparative statements of shareholders' equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2021 2022, and 2023. Retained Earnings 1,750 Total Shareholders' Equity 2,515 1,000 72 ANACONDA INTERNATIONAL CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2021, 2022, and 2023 ($ in millions) Preferred Common Additional Stock Stock Paid-In $10 par $1 par Capital Balance at January 1, 2021 85 680 Sale of preferred shares 20 980 Sale of...
Comparative statements of shareholders’ equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2018, 2019, and 2020. ANACONDA INTERNATIONAL CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2018, 2019, and 2020 ($ in millions) Preferred Stock $10 par Common Stock $1 par Additional Paid-In Capital Retained Earnings Total Shareholders' Equity Balance at January 1, 2018 85 680 1,948 2,713 Sale of preferred shares 30 930 960 Sale of common shares...
Infer from the statements the events and transactions that affected Anaconda International Corporation’s shareholders’ equity during 2018, 2019, and 2020. Prepare the journal entries that reflect those events and transactions. 2018 Record sale of preferred stock. Record sale of common stock. Record declaration of cash dividend for preferred shares. Record payment of cash dividend for preferred shares. Record declaration of cash dividend for common shares. Record payment of cash dividend for common shares. Record transfer of net income to retained...
Comparative Statements of Shareholders' Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2019, 2020, and 2021. LOCKE INTERTECHNOLOGY CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2019, 2020, and 2021 ($ in millions) Preferred Stock $10 par $ 55 Additional Paid in Total Shareholders Equity $ 2,428 (16) 3,271 (20) Balance at January 1, 2019 Sale of preferred shares Sale of common shares, 7/1 Cash dividend, preferred Cash dividend,...
Comparative Statements of Shareholders’ Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2019, 2020, and 2021. LOCKE INTERTECHNOLOGY CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2019, 2020, and 2021 ($ in millions) Preferred Stock, $10 par Common Stock, $1 par Additional Paid-in Capital Retained Earnings Total Shareholders' Equity Balance at January 1, 2019 $ 55 $ 495 $ 1,878 $ 2,428 Sale of preferred shares 10 470 480...
Comparative Statements of Shareholders' Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2016, 2017, and 2018 Retained Earnings $1,878 LOCKE INTERTECHNOLOGY CORPORATION statements of Shareholders Equity For the Years Unded Dec 31, 2016, 2017, and 2018 (sin millions) Preterred Common Additional stock, stock Paid-in $10 par SL par Capital Balance at January 1, 2016 $ 55 $ 495 Sale of preferred shares Sale of common shares, 7/1 Cash dividend preferred Canh dividend...
Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2021-2023. At December 31, 2020, the corporation's accounts included: Common stock, 111 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in thousands) $111,000 666,000 900,000 a. November 1, 2021, the board of directors declared a cash dividend of $0.50 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March...
Comparative Statements of Shareholders’ Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2016, 2017, and 2018. LOCKE INTERTECHNOLOGY CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2016, 2017, and 2018 (s in millions) Preferred Stock, $10 par Additional Total Common Stock, $1 par $ 40 Paid-in Capital 550 520 85 Retained Earnings $1,900 Shareholders Equity $ 2,490 529 93 Balance at January 1, 2016 Sale of preferred shares Sale...