Question

Question 9 View Policies Show Attempt History Current Attempt in Progress Whispering Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 10%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (107,000 shares authorized, 21,400 shares issued) 107,000 Additional paid-in capital 127,000 Retained earnings 491,000 Total $925,000 During 2020, Whispering took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,800 shares of its own outstanding common stock for $41 per share. Whispering uses the cost method. 3. Reissued 800 treasury shares for land valued at $33,700. 4. Issued 520 shares of preferred stock at $105 per share. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $44 per share. 6. Issued the stock dividend. 7. Declared the annual 2020 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021.

I need help making the Stockholder's Equity section.

Answer 1

K WHISPERING COMPANY Stockholder's Equity as of December 31, 2020 3 4 Capital Stock $ 252,000 $ 117,200 $ 369,200 $ 210.060 Preferred Stock 5 Common Stock 7 Total Capital Stock 8 Additional Paid-in Capital 9 Total Paid-in Capital 10 Retained Earnings 11 Total Paid-in Capital and Retained $1,264,420 12 Less: Treasury Stock 13 Total Stockholder's Equity $ 579,260 2$ $ 685,160 41,000 $1,223,420 14

Н Preferred Stock Treasury Stock $ 73,800 $ 32,800 1/1/2020 $200,000 3 $ 52,000 4 12/31/2020 $ 41,000 | 12/31/2020 $252,000 Common Stock Dividend Distributable $ 10,200 $ 10,200 Common Stock 1/1/2020 $107,000 $ 10,200 12/31/2020 $ 10 12/31/2020 $117,200 11 Additional Paid-in Capital $127,000 1/1/2020 3 900 2,600 4 $ 79,560 5 12/31/2020 $210,060 Retained Earnings $ 89,760 $ 70,080 Net Income $354,000 1/1/2020 $491,000 5 12/31/2020 $685,160 26

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