The equity sections from Edmunds Group’s 2016 and 2017 year-end balance sheets follow.
Stockholders’ Equity (December 31, 2016) | ||
Common stock—$4 par value, 150,000 shares authorized, 60,000 shares issued and outstanding |
$ | 240,000 |
Paid-in capital in excess of par value, common stock | 36,000 | |
Retained earnings | 200,000 | |
Total stockholders’ equity | $ | 476,000 |
Stockholders’ Equity (December 31, 2017) | |||
Common stock—$4 par value, 150,000 shares authorized, 69,810 shares issued, 5,500 shares in treasury |
$ | 279,240 | |
Paid-in capital in excess of par value, common stock | 94,860 | ||
Retained earnings ($44,000 restricted by treasury stock) | 360,000 | ||
734,100 | |||
Less cost of treasury stock | (44,000 | ) | |
Total stockholders’ equity | $ | 690,100 | |
1A .The following transactions and events affected its equity
during year 2017.
Jan. | 5 | Declared a $1.20 per share cash dividend, payable on January 10. | ||
Mar. | 20 | Purchased treasury stock for cash. | ||
Apr. | 5 | Declared a $1.20 per share cash dividend, payable on April 10. | ||
July | 5 | Declared a $1.20 per share cash dividend, payable on July 10. | ||
July | 31 | Declared a 18% stock dividend when the stock’s market value was $10 per share. | ||
Aug. | 14 | Issued the stock dividend that was declared on July 31. | ||
Oct. | 5 | Declared a $1.20 per share cash dividend, date of record October 10. |
record payment of the 10/10/2017 dividende
close income summary to retained earnings.
1B
Create General Ledger
1C
Create Trial Balance
1D Cash Dividends
1E Stock Dividend
The equity sections from Edmunds Group’s 2016 and 2017 year-end balance sheets follow. Stockholders’ Equity (December...
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