Retained earnings and balance sheet data: Accounts payable $194,300 Accounts receivable 545,000 Accumulated depreciation—office buildings and equipment...
Retained earnings and balance sheet
data: Accounts payable $194,300 Accounts
receivable 545,000 Accumulated depreciation—office buildings and
equipment 1,580,000 Accumulated depreciation—store buildings and
equipment 4,126,000 Allowance for doubtful accounts 8,450 Bonds
payable, 5%, due in 10 years 500,000 Cash 282,850 Common stock, $20
par (400,000 shares authorized;
85,000 shares issued, 94,600 outstanding), January 1,
20Y8 1,700,000 Dividends: Cash dividends for
common stock 155,120 Cash dividends for preferred stock
100,000 Goodwill 700,000 Income tax payable 44,000 Interest
receivable 1,200 Inventory (December 31, 20Y8), at lower of cost
(FIFO) or market 778,000 Office buildings and equipment 4,320,000
Paid-in capital from sale of treasury stock, January 1, 20Y8 0
Paid-in capital in excess of par—common stock, January 1, 20Y8
736,800 Paid-in capital in excess of par—preferred stock, January
1, 20Y8 70,000 Preferred 5% stock, $80 par (30,000 shares
authorized;
16,000 shares issued), January 1, 20Y8 1,280,000
Premium on bonds payable 19,000 Prepaid expenses 27,400 Retained
earnings, January 1, 20Y8 8,197,220 Store buildings and equipment
12,560,000 Treasury stock, January 1, 20Y8 0
b. Prepare a statement of stockholders’ equity for the year ended December 31, 20Y8. Decreases in equity and purchase should be entered as negative amounts by using a minus sign. If your answer is zero, enter “0”.
| Equinox Products Inc. Statement of Stockholders' Equity For the Year Ended December 31, 20Y8 |
||||||||
|---|---|---|---|---|---|---|---|---|
| Preferred Stock | Paid-In Capital in Excess of Par— Preferred Stock |
Common Stock | Paid-In Capital in Excess of Par— Common Stock |
Paid-In Capital from Sale of Treasury Stock |
Retained Earnings |
Treasury Stock |
Total | |
| Balances, January 1 | $ | $ | $ | $ | $ | $ | $ | $ |
| Issued Common Stock | ||||||||
| Issued Preferred Stock | ||||||||
| Net income | ||||||||
| Cash dividends | ||||||||
| Sale of treasury stock | ||||||||
| Purchase of treasury stock | ||||||||
| Balances, December 31 | $ | $ | $ | $ | $ | $ | $ | $ |
Homework Answers
| Equinox Products Inc. Statement of Stockholders' Equity For the Year Ended December 31, 20Y8 |
||||||||
|---|---|---|---|---|---|---|---|---|
| Preferred Stock | Paid-In Capital in Excess of Par— Preferred Stock |
Common Stock | Paid-In Capital in Excess of Par— Common Stock |
Paid-In Capital from Sale of Treasury Stock |
Retained Earnings |
Treasury Stock |
Total | |
| Balances, January 1 | $ | $ | $ | $ | $0 | $8197220 | $ | $8197220 |
| Issued Common Stock | 0 | 0 | 16,05,400 | 7,36,800 | 0 | 0 | 2342200 | |
| Issued Preferred Stock | 12,80,000 | 70,000 | 0 | 0 | 0 | 0 | 1350000 | |
| Net income | 0 | 0 | 0 | 0 | 0 | 606610 | 0 | 606610 |
| Cash dividends | 100000 | 0 | 155120 | 0 | 0 | 0 | 255120 | |
| Sale of treasury stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchase of treasury stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balances, December 31 | $1380000 | $70000 | $1760520 | $736800 | $0 |
8803830 |
$0 | $12751150 |
| Estimated Balance Sheet As on 31.03.2018 | ||||||
| Liabilities | Amount in $ | Assets | Amount in $ | |||
| Capital | Fixed Assets | |||||
| Coommin Stock | Office Building & Equipment | |||||
| Issued & Paid up Capital | 2342200 | Opening | 4320000 | |||
| Preferred Stock | Less: Acc Dep | 1580000 | 2740000 | |||
| Issued & Paid up Capital | 1350000 | |||||
| Store Building & Equipments | ||||||
| Bonds payable | 500000 | Opening | 12560000 | |||
| Premium on bonds | 19000 | Less: Acc Dep | 4126000 | 8434000 | ||
| Reatined Earnings | 8197220 | Goodwill | 700000 | |||
| Profit for the period ( Balanceing Figure) | 861730 | |||||
| Accounts Payable | 194300 | Accounts Receiveable | 545000 | |||
| Income tax payable | 44000 | Cash | 282850 | |||
| Interest Receiveable | 1200 | |||||
| Inventory | 778000 | |||||
| Prepaid Expenses | 27400 | |||||
| 13508450 | 13508450 | |||||
| Profit for the period | 861730 | |||||
| Less : Cash Dividend on Common Stock | 155120 | |||||
| Less: Cash dividend on Preferred Stock | 100000 | 255120 | ||||
| Net Income after dividend paid | 606610 | |||||
Add Answer to:
Retained earnings and balance sheet
data: Accounts payable $194,300 Accounts
receivable 545,000 Accumulated depreciation—office buildings and
equipment...
Udall Corporation's post-closing trial balance at December 31, 2019, was as follows: Debit Credit Accounts Payable...
Udall Corporation's post-closing trial balance at December 31, 2019, was as follows: Debit Credit Accounts Payable $290,000 Accounts Receivable $550,000 Accumulated Depreciation-Building and Equipment 200,000 Additional Paid-in Capital-on Common Stock 1,560,000 Additional Paid-in Capital from Treasury Stock 250,000 Allowance for Doubtful Accounts 30,000 Bonds Payable 400,000 Building and Equipment 1,100,000 Cash 220,000 Common Stock ($1 par value) 150,000 Dividends Payable on Preferred Stock 4,000 Inventories 620,000 Land 380,000 Available-for-Sale Investments 285,000 Trading Investments 215,000 Preferred Stock ($50 par value) 500,000...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accounts of Willis Corporation at January...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accounts of Willis Corporation at January 1 appear below: 8 Percent preferred stock, $10 par value, 50,000 shares authorized; 6,800 shares issued and outstanding $68,000 Common stock, $10 par value, 200,000 shares authorized; 50,000 shares issued and outstanding 500,000 Paid-in capital in excess of par value-Preferred stock 68,000 Paid-in capital in excess of par value-Common stock 200,000 Retained earnings 270,000 During the year, the following transactions occurred: Jan. 10 Issued...
Income statement data: Advertising expense Cost of goods sold Dellvery expense S 150,000 3,700,000 30,000 30,000 100,000 140,500 21,000 30,000 .500 14,000 50,000 170,000 10,000 5,313,000 185,000 385,...
Income statement data: Advertising expense Cost of goods sold Dellvery expense S 150,000 3,700,000 30,000 30,000 100,000 140,500 21,000 30,000 .500 14,000 50,000 170,000 10,000 5,313,000 185,000 385,000 21,000 Depreciation expense-office buildings and equipment Depreciation expense -store buildings and equipment Income tax expense interest expense Interest revenue Miscellaneous selling expense Office rent expense Office salaries expense Office supplies expense Sales salaries expense Store supplies expense earnings and balance sheet data: Accounts payable Accounts recelvable s 194300 545,000 1,580,000 4,126,000 8,450...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accounts of Willis Corporati...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accounts of Willis Corporation at January 1 appear below: 8 Percent preferred stock, $10 par value, 50,000 shares authorized; 6,800 shares issued and outstanding $68,000 Common stock, $10 par value, 200,000 shares authorized; 50,000 shares issued and outstanding 500,000 Paid-in capital in excess of par value-Preferred stock 68,000 Paid-in capital in excess of par value-Common stock 200,000 Retained earnings 270,000 During the year, the following transactions occurred: Jan. 10 Issued...
6. The following a Following accounts and balances are from the accounting records of Bronx CC...
6. The following a Following accounts and balances are from the accounting records of Bronx CC Inc, as of December 31, 2001 Fifty thousand shares of common stock are authorized, 30,000 shares are issued and 5,000 shares have been reacquired. Thirty thousand shares of preferred stock are authorized, 5,000 shares are issued and outstanding. Paid-In Capital in Excess of Par - Common 250,000 400,000 Bonds Payable Preferred Stock, $100 par, 9% cumulative 500,000 100,000 Cash 50,000 Common Stock Dividends Distributable...
Stockholders’ Equity: Transactions and Balance Sheet Presentation The stockholders’ equity of Summit Corporation at January 1...
Stockholders’ Equity: Transactions and Balance Sheet
Presentation The stockholders’ equity of Summit Corporation at
January 1 follows: 7 Percent preferred stock, $100 par value,
20,000 shares authorized; 5,000 shares issued and outstanding
$500,000 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-Preferred stock 24,000 Paid-in capital in
excess of par value-Common stock 360,000 Retained earnings 325,000
Total Stockholders' Equity $1,809,000 The following transactions,
among others, occurred during the...
Accounts Payable Accounts Receivable Accrued Liabilities Accumulated Depreciation-Building Accumulated Depreciation-Equipment Advances to Employees Allowance for Doubtful...
Accounts Payable
Accounts Receivable
Accrued Liabilities
Accumulated Depreciation-Building
Accumulated Depreciation-Equipment
Advances to Employees
Allowance for Doubtful Accounts
Bonds Payable
Bond Sinking Fund
Buildings
Cash
Cash Surrender Value of Life Insurance
Common Stock
Construction in Process
Copyrights
Debt Investments
Dividends Payable
Discount on Bonds Payable
Equipment
Equity Investments
Finished Goods
Franchises
Goodwill
Income Tax Payable
Income Tax Receivable
Interest Payable
Interest Receivable
Inventory
Investments in Common Stock
Investments in Stocks and Bonds
Land
Notes Payable
Notes Receivable
Noncontrolling Interest
Paid-in Capital...
The stockholders' equity accounts of Riverbed Corp on January 1, 2017, were as follows. Preferred Stock...
The stockholders' equity accounts of Riverbed Corp on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,350 shares authorized) $261,000 Common Stock ($5 stated value, 291,000 shares authorized) 1,212,500 Paid-in Capital in Excess of Par Value-Preferred Stock 13,050 Paid-in Capital in Excess of Stated Value-Common Stock 465,600 Retained Earnings 710,000 Treasury Stock (4,350 common shares) 34,800 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 4,670 shares...
The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, 2018,...
The stockholders’ equity section of the balance sheet for Mann
Equipment Co. at December 31, 2018, is as follows.
Stockholders' Equity Paid-in capital Preferred stock,? par value, 4% cumulative, 290,000 shares authorized, 59,000 shares $590,006 1ssued and outstanding Common stock, $15 stated value, 340,000 shares authorized, 59,000?? shares issued and 885,000 49,000 outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated 295,000 value-Common Total paid-in capital Retained earnings Treasury stock, 3,000 shares Total stockholders equity 1,819,000...
The stockholders' equity accounts of Swifty Corporation on January 1, 2017, were as follows. Preferred Stock...
The stockholders' equity accounts of Swifty Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 11,000 shares authorized) Common Stock ($4 stated value, 660,000 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 (11,000 common shares) $660,000 2,200,000 33,000 1,056,000 1,513,600 88,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 11,000 shares...
Udall Corporation's post-closing trial balance at December 31, 2019, was as follows: Debit Credit Accounts Payable $290,000 Accounts Receivable $550,000 Accumulated Depreciation-Building and Equipment 200,000 Additional Paid-in Capital-on Common Stock 1,560,000 Additional Paid-in Capital from Treasury Stock 250,000 Allowance for Doubtful Accounts 30,000 Bonds Payable 400,000 Building and Equipment 1,100,000 Cash 220,000 Common Stock ($1 par value) 150,000 Dividends Payable on Preferred Stock 4,000 Inventories 620,000 Land 380,000 Available-for-Sale Investments 285,000 Trading Investments 215,000 Preferred Stock ($50 par value) 500,000...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accounts of Willis Corporation at January 1 appear below: 8 Percent preferred stock, $10 par value, 50,000 shares authorized; 6,800 shares issued and outstanding $68,000 Common stock, $10 par value, 200,000 shares authorized; 50,000 shares issued and outstanding 500,000 Paid-in capital in excess of par value-Preferred stock 68,000 Paid-in capital in excess of par value-Common stock 200,000 Retained earnings 270,000 During the year, the following transactions occurred: Jan. 10 Issued...
Income statement data: Advertising expense Cost of goods sold Dellvery expense S 150,000 3,700,000 30,000 30,000 100,000 140,500 21,000 30,000 .500 14,000 50,000 170,000 10,000 5,313,000 185,000 385,000 21,000 Depreciation expense-office buildings and equipment Depreciation expense -store buildings and equipment Income tax expense interest expense Interest revenue Miscellaneous selling expense Office rent expense Office salaries expense Office supplies expense Sales salaries expense Store supplies expense earnings and balance sheet data: Accounts payable Accounts recelvable s 194300 545,000 1,580,000 4,126,000 8,450...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accounts of Willis Corporation at January 1 appear below: 8 Percent preferred stock, $10 par value, 50,000 shares authorized; 6,800 shares issued and outstanding $68,000 Common stock, $10 par value, 200,000 shares authorized; 50,000 shares issued and outstanding 500,000 Paid-in capital in excess of par value-Preferred stock 68,000 Paid-in capital in excess of par value-Common stock 200,000 Retained earnings 270,000 During the year, the following transactions occurred: Jan. 10 Issued...
6. The following a Following accounts and balances are from the accounting records of Bronx CC Inc, as of December 31, 2001 Fifty thousand shares of common stock are authorized, 30,000 shares are issued and 5,000 shares have been reacquired. Thirty thousand shares of preferred stock are authorized, 5,000 shares are issued and outstanding. Paid-In Capital in Excess of Par - Common 250,000 400,000 Bonds Payable Preferred Stock, $100 par, 9% cumulative 500,000 100,000 Cash 50,000 Common Stock Dividends Distributable...
Stockholders’ Equity: Transactions and Balance Sheet
Presentation The stockholders’ equity of Summit Corporation at
January 1 follows: 7 Percent preferred stock, $100 par value,
20,000 shares authorized; 5,000 shares issued and outstanding
$500,000 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-Preferred stock 24,000 Paid-in capital in
excess of par value-Common stock 360,000 Retained earnings 325,000
Total Stockholders' Equity $1,809,000 The following transactions,
among others, occurred during the...
Accounts Payable
Accounts Receivable
Accrued Liabilities
Accumulated Depreciation-Building
Accumulated Depreciation-Equipment
Advances to Employees
Allowance for Doubtful Accounts
Bonds Payable
Bond Sinking Fund
Buildings
Cash
Cash Surrender Value of Life Insurance
Common Stock
Construction in Process
Copyrights
Debt Investments
Dividends Payable
Discount on Bonds Payable
Equipment
Equity Investments
Finished Goods
Franchises
Goodwill
Income Tax Payable
Income Tax Receivable
Interest Payable
Interest Receivable
Inventory
Investments in Common Stock
Investments in Stocks and Bonds
Land
Notes Payable
Notes Receivable
Noncontrolling Interest
Paid-in Capital...
The stockholders' equity accounts of Riverbed Corp on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,350 shares authorized) $261,000 Common Stock ($5 stated value, 291,000 shares authorized) 1,212,500 Paid-in Capital in Excess of Par Value-Preferred Stock 13,050 Paid-in Capital in Excess of Stated Value-Common Stock 465,600 Retained Earnings 710,000 Treasury Stock (4,350 common shares) 34,800 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 4,670 shares...
The stockholders’ equity section of the balance sheet for Mann
Equipment Co. at December 31, 2018, is as follows.
Stockholders' Equity Paid-in capital Preferred stock,? par value, 4% cumulative, 290,000 shares authorized, 59,000 shares $590,006 1ssued and outstanding Common stock, $15 stated value, 340,000 shares authorized, 59,000?? shares issued and 885,000 49,000 outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated 295,000 value-Common Total paid-in capital Retained earnings Treasury stock, 3,000 shares Total stockholders equity 1,819,000...
The stockholders' equity accounts of Swifty Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 11,000 shares authorized) Common Stock ($4 stated value, 660,000 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 (11,000 common shares) $660,000 2,200,000 33,000 1,056,000 1,513,600 88,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 11,000 shares...
Most questions answered within 3 hours.
-
Based on what you learned in chapter 11, why would an
individual with a high BMI...
asked 21 minutes ago -
Assume the economy can be described by the consumption function
C = $300 billion + 0.9Y...
asked 13 minutes ago -
Within an environment where change is needed, you must recognize
the obstacles that can make changes...
asked 7 minutes ago -
Travelcraft, Inc., manufactures a complete line of fiberglass
suitcases and attaché cases. The firm has...
asked 13 minutes ago -
The electron in a hydrogen atom can undergo a transition from
n=1 to n=6, absorbing a...
asked 15 minutes ago -
1a.
During 2021, a company sells 270 units of inventory for $94
each. The company has...
asked 22 minutes ago -
A 7.3 kg ladder, 1.92 m long, rests on two sawhorses, as shown
in Figure 20....
asked 30 minutes ago -
What is an important first step when conducting a usability
study?
A) Develop measurable tasks that...
asked 31 minutes ago -
Suppose Y ~ N(4,200) and Z ~ N(6,25) and Y and Z are
independent. What is...
asked 47 minutes ago -
Define poikilotherm and homeotherm, highlighting how
they are different. Both homeotherms and poikilotherms do not have...
asked 1 hour ago -
Maintenance is defined as?
A. Repair
B. Actions to Achieve a determined level or Reliability
C....
asked 54 minutes ago -
Question 2 Identify the one INCORRECT statement regarding
project Risk Management. Group of answer choices
A....
asked 58 minutes ago