The balance sheet of MacMillan Management Consulting, Inc. at December 31, 2017, reported the followingstockholders' equity
During 2018, MacMillan completed the following selected transactions:
|
1. |
Record the transactions in the general journal. |
|
2. |
Prepare a retained earnings statement for the year ended December 31, 2018. Assume MacMillan's net income for the year was $88,000. |
|
3. |
Prepare the stockholders' equity section of the balance sheet at December31, 2018. |
|
Feb. |
6 |
Declared a 15% stock dividend on common stock. The market value of MacMillan's stock was $30 per share. | |
|
15 |
Distributed the stock dividend. |
||
|
Jul. |
29 |
Purchased 1,800 shares of treasury stock at $30 per share. | |
|
Nov. |
27 |
Declared a $0.25 per share cash dividend on the common stock outstanding. |
Homework Answers
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The balance sheet of MacMillan Management Consulting, Inc. at
December 31, 2017, reported the followingstockholders'
equity...
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Alexander Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$25 par...
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Kohler Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$15 par...
Kohler Corporation reports the following components of
stockholders’ equity on December 31, 2017.
Common stock—$15 par value,
100,000 shares authorized,
40,000 shares issued and outstanding
$
600,000
Paid-in capital in excess of par
value, common stock
80,000
Retained earnings
400,000
Total stockholders' equity
$
1,080,000
In year 2018, the following transactions affected its stockholders’
equity accounts.
Jan.
1
Purchased 4,500 shares of its own
stock at $15 cash per share.
Jan.
5
Directors declared a $2 per share
cash dividend...
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Matchlessly, Inc., was organized in 2017. At December 31, 2017, the company’s Balance sheet reported the...
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Kohler Corporation reports the following components of
stockholders’ equity on December 31, 2017.
Common stock—$15 par value,
100,000 shares authorized,
40,000 shares issued and outstanding
$
600,000
Paid-in capital in excess of par
value, common stock
80,000
Retained earnings
400,000
Total stockholders' equity
$
1,080,000
In year 2018, the following transactions affected its stockholders’
equity accounts.
Jan.
1
Purchased 4,500 shares of its own
stock at $15 cash per share.
Jan.
5
Directors declared a $2 per share
cash dividend...
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> a lot of this was wrong even when i was using it just for reference. don’t use this answer
Gabby Laubsch Sun, Nov 21, 2021 12:42 PM