Homework Answers
Stockholder's Equity on December 31,Year 2 =Stockholder's Equity on December 31,Year 1 + Net income - Dividends + Shares Issued
Net Income = Stockholder's Equity on December 31,Year 2 - Stockholder's Equity on December 31,Year 1 + Dividends - Shares Issued
= ( $ 50,000 + $ 75,000) - $ 75,000 + $ 8000 - $ 10000
$48,000
Net Income $48,000
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The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $75,000....
SA Exercise 1-14A Missing information for determining net income The December 31, Year 1, balance sheet...
SA Exercise 1-14A Missing information for determining net income The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $156,000. Total stockholders' equity increased by $65,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $20,000 cash from the issue of com- mon stock. Deen Company paid a $5,000 cash dividend to the stockholders during Year 2. Problem 1-33A Interrelationships among financial statements LO 1-2, 1-3, 1-5, 1-6,...
Exercise 1-14A Missing information for determining net income LO 1-7 1 nts Book The December 31,...
Exercise 1-14A Missing information for determining net income LO 1-7 1 nts Book The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $156,000. Total stockholders' equity increased by $65,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $20,000 cash from the issue of common stock. Deen Company paid a $5,000 cash dividend to the stockholders during Year 2 Required Determine the amount of net income or...
A company reported total stockholders' equity of $336,000 on its balance sheet dated December 31, 2018....
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A company reported total stockholders' equity of $532,000 on its balance sheet dated December 31, 2018....
A company reported total stockholders' equity of $532,000 on its balance sheet dated December 31, 2018. During the year ended December 31, 2019, the company reported net income of $61,800, declared and paid a cash dividend of $19.800, declared and distributed a 10% stock dividend with a $16,800 total market value issued additional common stock for $62,000, and resold treasury stock for $16,800 that it had purchased in 2018 for $13,800. What is total stockholders' equity as of December 31,...
he stockholders' equity section of KMG ple's balance sheet at December 31, 2018, was as follows:...
he stockholders' equity section of KMG ple's balance sheet at December 31, 2018, was as follows: (Click the icon to view the balance sheet.) Read the resuirements Requirement a. Prepare the journal entry required on January 9, 2019, fon that date KMG repurchased 75,000 shares of treasury stock for $1,200,000. (Record debits first, then credits Exclude explanation Account i Requirements Requirement b. On March 23, 2019, KMG sold 8,000 of the treasury shares for $48 per share. Prepare the jour...
The balance sheet of MacMillan Management Consulting, Inc. at December 31, 2017, reported the followingstockholders' equity...
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...
The stockholders' equity of Embassy Corporation at December 31, 2017, is shown as follows. Stockholders' equity:...
The stockholders' equity of Embassy Corporation at December 31, 2017, is shown as follows. Stockholders' equity: Common stock, $10 par, 100,000 shares authorized, 40,000 shares issued and outstanding. $ 400,000 Additional paid-in capital: common stock 200,000 Total paid-in capital........... $ 600,000 Retained earnings ............ 1,700,000 Total stockholders' equity... $2,300,000 .... Transactions affecting stockholders' equity during 2018 are as follows. Mar.31 A 5-for-4 stock split proposed by the board of directors was approved by vote of the stockholders. The 10.000 new...
Presented below is the stockholders' equity section of Oaks Corporation at December 31, 2017: Common stock,...
Presented below is the stockholders' equity section of Oaks Corporation at December 31, 2017: Common stock, par value $20; authorized 75,000 shares; issued and outstanding 45,000 shares $ 900,000 Paid-in capital in excess of par value 350,000 Retained earnings 500,000 Total : $1,450,000 During 2018 the following transactions occurred relating to stockholders' equity: 3,000 shares were reacquired at $28 per share. 3,000 shares were reacquired at $35 per share. 1,800 shares of treasury stock were sold at $30 per share....
The following was taken from Stockholders’ Equity section of Lynbrook’s December 31, 2018 balance sheet: Common stock- $...
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a.)Prepare the stockholders’ equity section of the balance sheet as of December 31, 2018. (Amounts to be deducted shoul...
a.)Prepare the stockholders’ equity section of the balance sheet
as of December 31, 2018. (Amounts to be deducted should be
indicated by a minus sign.)
b.) Prepare the statement of stockholders’ equity for the year
ended December 31, 2018. (Amounts to be deducted should be
indicated by a minus sign.)
Nautical has two classes of stock authonized: $10 par preferred, and $1 par value common. As of the beqinning of 2018, 1500 shares of preferred stock and 2,500 shares of...
SA Exercise 1-14A Missing information for determining net income The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $156,000. Total stockholders' equity increased by $65,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $20,000 cash from the issue of com- mon stock. Deen Company paid a $5,000 cash dividend to the stockholders during Year 2. Problem 1-33A Interrelationships among financial statements LO 1-2, 1-3, 1-5, 1-6,...
Exercise 1-14A Missing information for determining net income LO 1-7 1 nts Book The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $156,000. Total stockholders' equity increased by $65,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $20,000 cash from the issue of common stock. Deen Company paid a $5,000 cash dividend to the stockholders during Year 2 Required Determine the amount of net income or...
A company reported total stockholders' equity of $532,000 on its balance sheet dated December 31, 2018. During the year ended December 31, 2019, the company reported net income of $61,800, declared and paid a cash dividend of $19.800, declared and distributed a 10% stock dividend with a $16,800 total market value issued additional common stock for $62,000, and resold treasury stock for $16,800 that it had purchased in 2018 for $13,800. What is total stockholders' equity as of December 31,...
he stockholders' equity section of KMG ple's balance sheet at December 31, 2018, was as follows: (Click the icon to view the balance sheet.) Read the resuirements Requirement a. Prepare the journal entry required on January 9, 2019, fon that date KMG repurchased 75,000 shares of treasury stock for $1,200,000. (Record debits first, then credits Exclude explanation Account i Requirements Requirement b. On March 23, 2019, KMG sold 8,000 of the treasury shares for $48 per share. Prepare the jour...
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...
The stockholders' equity of Embassy Corporation at December 31, 2017, is shown as follows. Stockholders' equity: Common stock, $10 par, 100,000 shares authorized, 40,000 shares issued and outstanding. $ 400,000 Additional paid-in capital: common stock 200,000 Total paid-in capital........... $ 600,000 Retained earnings ............ 1,700,000 Total stockholders' equity... $2,300,000 .... Transactions affecting stockholders' equity during 2018 are as follows. Mar.31 A 5-for-4 stock split proposed by the board of directors was approved by vote of the stockholders. The 10.000 new...
a.)Prepare the stockholders’ equity section of the balance sheet
as of December 31, 2018. (Amounts to be deducted should be
indicated by a minus sign.)
b.) Prepare the statement of stockholders’ equity for the year
ended December 31, 2018. (Amounts to be deducted should be
indicated by a minus sign.)
Nautical has two classes of stock authonized: $10 par preferred, and $1 par value common. As of the beqinning of 2018, 1500 shares of preferred stock and 2,500 shares of...
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