Homework Answers
| Dividends paid | 50000 | =500000*0.10 |
| Common Shares | 2000000 | |
| Retained earnings | 910000 | =600000-50000+360000 |
| Accumulated Other Comprehensive Income | 100000 | |
| Total balance on Shareholders' Equity on December 31,2018 | 3010000 |
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gu LTTUUR Wym LUULUB WINSTISCIV. Pape Question 6 3.5 pts Fruiticana, Inc. had the following shareholders'...
Exercise 15-14 On January 1, 2020, Pina Colada Ltd. (a public company) had the following shareholders’...
Exercise 15-14
On January 1, 2020, Pina Colada Ltd. (a public company) had the
following shareholders’ equity accounts:
Preferred shares, $5 non–cumulative, unlimited number
authorized, none issued
0
Common shares, unlimited number authorized, 740,000 issued
$
5,920,000
Retained earnings
1,259,000
Accumulated other comprehensive income
150,000
The following selected transactions occurred during 2020:
Jan. 2
Issued 100,000 preferred shares at $100 per share.
Mar. 5
Declared the quarterly cash dividend to preferred shareholders
of record on March 20, payable April 1....
Ivanhoe Supply Corporation provided the following schedule detailing the changes in the shareholders’ equity accounts during...
Ivanhoe Supply Corporation provided the following schedule detailing the changes in the shareholders’ equity accounts during 2020 and 2021. 2021 2020 Number of Shares Amount Number of Shares Amount Common shares, unlimited authorized Balance, January 1 520,000 $624,000 520,000 $624,000 Issued shares for cash 52,000 34,000 0 Reacquired shares (26,000 ) (29,909 ) 0 Balance, December 31 546,000 628,091 520,000 624,000 Contributed surplus—reacquisition of common shares Balance, January 1 15,500 15,500 Reacquired common shares 8,300 0 Balance, December 31 23,800...
The following is from the 2018 annual report of Kaufman Chemicals, Inc.: 2018 $845 2017 $675...
The following is from the 2018 annual report of Kaufman Chemicals, Inc.: 2018 $845 2017 $675 2016 $530 Statements of comprehensive Income Years Ended December 31 Net income Other comprehensive income: Change in net unrealized gains on investments, net of tax of $17, ($15), and $15 in 2018, 2017, and 2016, respectively Other Total comprehensive income 28 (22) 25 (2) $871 $651 $556 Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equ Kaufman...
The following is from the 2018 annual report of Kaufman Chemicals, Inc. Statements of Comprehensive Income...
The following is from the 2018 annual report of Kaufman Chemicals, Inc. Statements of Comprehensive Income Years Ended December 31 Net income Other comprehensive income Change in net unrealized gains on investments, net of tax of 2018 $845 $675 $53 2017 2816 17, ($15), and $15 in 2018, 2817, and 2816, respectively other 28 (22) 25 Total comprehensive income $871 $651 $556 Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows:...
On December 31, 2016, Crane Corporation had the following shareholders’ equity accounts: CRANE CORPORATION Balance Sheet...
On December 31, 2016, Crane Corporation had the following
shareholders’ equity accounts:
CRANE CORPORATION
Balance Sheet (partial)
December 31, 2016
Shareholders’ equity
Common shares (unlimited number
of shares authorized, 92,000 issued)
$1,033,000
Retained earnings
520,000
Total shareholders’ equity
$1,553,000
During the year, the following transactions occurred:
Jan.
15
Declared a $1 per share cash dividend to shareholders of record
on January 31, payable February 15.
July
1
Announced a 2-for-1 stock split. The market price per share on
the date...
On January 1, 2018, Wirth Corporation, a publicly traded company, had these shareholders equity accounts: Common...
On January 1, 2018, Wirth Corporation, a publicly traded company, had these shareholders equity accounts: Common shares (unlimited number of shares authorized, 220,000 shares issued).........$2,200,000 Retained earnings..............................................................................................................1,080,000 Accumulated other comprehensive income..........................................................................120,000 During the year, the following transactions occurred: Jan. 15 Declared a $1 per share cash dividend to shareholders of record on January 31, payable February 15. Apr. 16 Declared a 10% stock dividend to shareholders of record on April 30, distributable May 16. On April 16, April 30, and...
chapter 18-3. The following is from the 2018 annual report of Kaufman Chemicals, Inc. Statements of...
chapter 18-3. The following is from the 2018 annual report of Kaufman Chemicals, Inc. Statements of Comprehensive Income Years Ended December 31 2018 2017 2016 Net Income $856 $686 $541 Other comprehensive income: Change in net unrealized gains on investments, net of tax of $18, ($16), and $16 in 2018, 2017, and 2016, respectively 30 (24) 26 Other (3) (2) 2 Total comprehensive income $883 $660 $569 Kaufman reports accumulated other comprehensive income in its...
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, Sweetwater Ltd., a private company, had the following shareholders' equity accounts: Preferred...
On January 1, 2018, Sweetwater Ltd., a private company, had the following shareholders' equity accounts: Preferred shares, $1 noncumulative, unlimited number authorized, none issued Common shares, unlimited number authorized, 2.06 million issued Retained earnings $2,860,000 3,470,000 The following selected transactions occurred during 2018: Jan. 2 Issued 210,000 preferred shares at $25 per share. Feb. 8 Issued 100,000 common shares in exchange for land. On this date, the current value of the land was $210,000. The common shares have not recently...
Exercise 18-1 Comprehensive income [LO18-2] The following is from the 2018 annual report of Kaufman Chemicals,...
Exercise 18-1 Comprehensive income [LO18-2] The following is from the 2018 annual report of Kaufman Chemicals, Inc.: Statements of Comprehensive Income Years Ended December 31 2018 2017 2016 Net income $ 999 $ 829 $ 684 Other comprehensive income: Change in net unrealized gains on investments, net of tax of $32, ($20), and $22 in 2018, 2017, and 2016, respectively 45 (28 ) 30 Other (3 ) (1 ) 1 Total comprehensive income $ 1,041 $ 800 $ 715 Kaufman...
Exercise 15-14
On January 1, 2020, Pina Colada Ltd. (a public company) had the
following shareholders’ equity accounts:
Preferred shares, $5 non–cumulative, unlimited number
authorized, none issued
0
Common shares, unlimited number authorized, 740,000 issued
$
5,920,000
Retained earnings
1,259,000
Accumulated other comprehensive income
150,000
The following selected transactions occurred during 2020:
Jan. 2
Issued 100,000 preferred shares at $100 per share.
Mar. 5
Declared the quarterly cash dividend to preferred shareholders
of record on March 20, payable April 1....
The following is from the 2018 annual report of Kaufman Chemicals, Inc.: 2018 $845 2017 $675 2016 $530 Statements of comprehensive Income Years Ended December 31 Net income Other comprehensive income: Change in net unrealized gains on investments, net of tax of $17, ($15), and $15 in 2018, 2017, and 2016, respectively Other Total comprehensive income 28 (22) 25 (2) $871 $651 $556 Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equ Kaufman...
The following is from the 2018 annual report of Kaufman Chemicals, Inc. Statements of Comprehensive Income Years Ended December 31 Net income Other comprehensive income Change in net unrealized gains on investments, net of tax of 2018 $845 $675 $53 2017 2816 17, ($15), and $15 in 2018, 2817, and 2816, respectively other 28 (22) 25 Total comprehensive income $871 $651 $556 Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows:...
On December 31, 2016, Crane Corporation had the following
shareholders’ equity accounts:
CRANE CORPORATION
Balance Sheet (partial)
December 31, 2016
Shareholders’ equity
Common shares (unlimited number
of shares authorized, 92,000 issued)
$1,033,000
Retained earnings
520,000
Total shareholders’ equity
$1,553,000
During the year, the following transactions occurred:
Jan.
15
Declared a $1 per share cash dividend to shareholders of record
on January 31, payable February 15.
July
1
Announced a 2-for-1 stock split. The market price per share on
the date...
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, Sweetwater Ltd., a private company, had the following shareholders' equity accounts: Preferred shares, $1 noncumulative, unlimited number authorized, none issued Common shares, unlimited number authorized, 2.06 million issued Retained earnings $2,860,000 3,470,000 The following selected transactions occurred during 2018: Jan. 2 Issued 210,000 preferred shares at $25 per share. Feb. 8 Issued 100,000 common shares in exchange for land. On this date, the current value of the land was $210,000. The common shares have not recently...
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