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Sheridan | |||||
Retained Earnings Account | |||||
Date | Account | Debit $ | Date | Account | Credit $ |
1-Sep | Prior Period Adjustment | 60,900.00 | 1-Jan | Opening Balance | 1,120,000.00 |
31-Dec | Cash Dividend | 259,000.00 | 31-Dec | Net Income | 588,000.00 |
31-Dec | Stock Dividend | 466,200.00 | |||
31-Dec | Closing Balance | 921,900.00 | |||
1,708,000.00 | 1,708,000.00 | ||||
1-Jan | Opening Balance | 921,900.00 | |||
Stockholder's Equity | Amount $ | Amount $ | |||
Paid in capital | |||||
Capital Stock | |||||
Preferred Stock | 800,000.00 | ||||
Common Stock | 2,590,000.00 | ||||
Common Stock Dividends Distributable | 259,000.00 | ||||
2,849,000.00 | |||||
Total Capital Stock | 3,649,000.00 | ||||
Additional Paid in Capital | |||||
Paid in Capital in excess of par- Preferred stock | 259,000.00 | ||||
Paid in Capital in excess of par- Common stock | 410,000.00 | ||||
Total Additional Paid in Capital | 669,000.00 | ||||
Total Paid in Capital | 4,318,000.00 | ||||
Retained Earnings | 921,900.00 | ||||
Less: restricted for plan expansion | (193,000.00) | ||||
Total Stockholder's Equity | 5,046,900.00 |
Workings | ||||
Stock Dividend | Note | |||
Closing Common Stock (issued) | 259,000.00 | A | ||
Closing before Stock Dividend | 259,000.00 | D | ||
10 % stock dividend | 25,900.00 | B=A*10% | ||
Market price per share | 18.00 | C | ||
Stock Dividend Value | 466,200.00 | D=B*C |
FOR PRINTER VERSION BACK Problem 14-02A (Part Level The post-doing t halace of Shandan Carbon December...
ONLY PART C Problem 14-02A a-c (Part Level Submission) The post-closing trial balance of Sheridan Corporation at December 31, 2020, contains the following stockholders' equity accounts. Preferred Stock (16,000 shares issued) Common Stock (259,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings $800,000 2,590,000 259,000 410,000 259,000 921,900 A review of the accounting records reveals the following. 2. No errors have been made in recording 2020...
CALCULATOR PRINTER VERSION Problem 14-02A - (Part Level Submission) The post-closing trial balance of Sheridan Corporation at December 31, 2020, contains the following stockholdere guy arous Preferred Stock (16,000 shares issued) $800,000 Common Stock (259,000 shares issued) 2,590,000 Paid-in Capital in Excess of Par-Preferred Stock 259,000 Pald-in Capital in Excess of Par-Common Stock 410,000 Common Stock Dividends Distributable 259,000 Retained Earnings 921,900 A review of the accounting records reveals the following 4. 5. 6. No errors have been made in...
December 2006 Part Level Submen) The r a ce of Sheridan Corporation Preferred (16,000 shares ) Common Stock (259,000 shares und Pada Capital in bass of Par-Preferred Stock Pidin Capital incess of Pare-Common Stock Common Stock Dividends Distributable Red Famings 2,590,000 259.000 410,000 259.000 A review of the accounting records reveals the following No errors have been made in recording 2020 transaction or in preparing the closing entry for net income Preferred Mocks 50 , , and cumulative; 16,000 shares...
8Blam 14-02A a-c (Part Level Submission) PRINTER VERSION BACK NEXT The post-closing trial balance of Sheridan Corporation at December 31, 2020, contains the felowing stocknelders equity acunts Preferred Stock (16,000 shares issued) Common Stock (259,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Captal in Excess of Par-Common Stock $800,000 2,590,000 259,000 410,000- Common Stock Dividends Distributable 259,000 Retained Eamings 921,900 A review of the accounting records reveals the following No errors have been made in recording 2020...
een The hand of handen op Predok (16,000 shares ) Come t 259.000 shares ) Paiden p incess of Commen Stock Dividend Redrawings Common Stock e $100,000 20,000 290,000 41.000 250.000 921,900 A new of the counting records reveals the following Narror have been made in recording 2020 ra t her for me > Preferred whispar, 6, and cut 16,000 shares have been g a y 1, 2018 1 An d 1,000 shares of preferred, 18.000 10 par va The...
Problem 14-02A a-c The post-closing trial balance of Storey Corporation at December 31, 2020, contains the Preferred Stock (15,000 shares Issued) Common Stock (250,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings following stockholders equity accounts $750,000 2,500,000 250,000 400,000 250,000 1,042,000 A review of the accounting records reveals the following 1. 2. No errors have been mode in recording 2020 transactions or in preparing the...
TOP Bronx Community College Problem 14-02A 3-C (Part Level Submission) The post-closing trial balance of Blossom Corporation at December 31, 2020, contains the following stockholders' equity accounts Preferred Stock (14,000 shares issued) Common Stock (240,000 shares issued) 2,400,000 Paldin Capital in Excess of Par--Preferred Stock 240,000 Paid in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings $700,000 380,000 240,000 966,500 A review of the accounting records reveals the following. 1. 2. 3. 4. 5. No errors...
I need help with the question (C). The post-closing trial balance of Sunland Corporation at December 31, 2020, contains the following stockholders' equity accounts. Preferred Stock (14,600 shares issued) Common Stock (242,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings $730,000 2,420,000 242,000 383,000 242,000 909,770 A review of the accounting records reveals the following. 1. No errors have been made in recording 2020 transactions or...
Problem 11-02A (Part Level Submission) The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 13,000 shares authorized) Common Stock ($4 stated value, 780,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (13,000 common shares) $780,000 2,600,000 39,000 1,248,000 1,788,800 104,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders'...
The post-closing trial balance of Ivanhoe Corporation at December 31, 2020, contains the stockholders' equity accounts. poration at December 31, 2020, contains the following Preferred Stock (15,000 shares issued) Common Stock (243,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings $750,000 2,430,000 243,000 409,000 243,000 982,560 A review of the accounting records reveals the following. No errors have been made in recording 2020 transactions r in...