Homework Answers
14. Average Purchase price for treasuring stock during 2016 = (200000-130000)/(18000-11000) = $10 per share
Answer is b. $10
15.
Dividend to be paid = (13500000+7425000-72000-18600000)/600000x3000
= $11265
Answer is e. $11265
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The following information is relevant for question 14 and 15: 31-12-16 31-12-15 Preferred stock, 5%, $120...
explain all answer, no written work The following information is relevant for question 9 and 10:...
explain all answer, no written work
The following information is relevant for question 9 and 10: Tomer's stockholders equity section of the balance sheet for Dec 31 2014 is as follows (amounts in USD): 31/12/2014 Preferred stock, 5%, $120 par, non-cumulative, 6,000 shares 720,000 Common stock, ($2 par value each) 2,100,000 Additional paid-in capital-preferred 50,000 Additional paid-in capital-common 6,300,000 Total paid-in capital 6,350,000 Retained earnings 13,500,000 Total paid-in capital & retained earning 19,850,000 Total owners' equity 22,670,000 9. What were...
Wildhorse Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par...
Wildhorse Company has two classes of capital stock outstanding:
8%, $20 par preferred and $5 par common. At December 31, 2020, the
following accounts were included in stockholders’ equity.
Preferred Stock, 159,600 shares
$ 3,192,000
Common Stock, 1,970,000 shares
9,850,000
Paid-in Capital in Excess of Par—Preferred Stock
193,000
Paid-in Capital in Excess of Par—Common Stock
27,534,000
Retained Earnings
4,424,000
The following transactions affected stockholders’ equity during
2021.
Jan. 1
29,100 shares of preferred stock issued at $22 per share.
Feb....
Sarasota Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par...
Sarasota Company has two classes of capital stock outstanding:
8%, $20 par preferred and $5 par common. At December 31, 2020, the
following accounts were included in stockholders’ equity.
Preferred Stock, 148,200 shares
$ 2,964,000
Common Stock, 1,991,000 shares
9,955,000
Paid-in Capital in Excess of Par—Preferred Stock
207,000
Paid-in Capital in Excess of Par—Common Stock
26,478,000
Retained Earnings
4,495,000
The following transactions affected stockholders’ equity during
2021.
Jan. 1
29,200 shares of preferred stock issued at $23 per share.
Feb....
Wildhorse Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par...
Wildhorse Company has two classes of capital stock outstanding:
8%, $20 par preferred and $5 par common. At December 31, 2020, the
following accounts were included in stockholders’ equity.
Preferred Stock, 159,600 shares
$ 3,192,000
Common Stock, 1,970,000 shares
9,850,000
Paid-in Capital in Excess of Par—Preferred Stock
193,000
Paid-in Capital in Excess of Par—Common Stock
27,534,000
Retained Earnings
4,424,000
The following transactions affected stockholders’ equity during
2021.
Jan. 1
29,100 shares of preferred stock issued at $22 per share.
Feb....
The stockholders' equity section of Lemay Corporation shows the following on December 31, 2018: Preferred stock—5%,...
The stockholders' equity section of Lemay Corporation shows the following on December 31, 2018: Preferred stock—5%, $100 par, 4,500 shares outstanding $450,000 Common stock—$10 par, 58,000 shares outstanding 580,000 Paid-in capital in excess of par 210,000 Retained earnings 115,200 Total stockholders' equity $1,355,200 Assuming that all of the company's retained earnings are to be paid out in dividends on 12/31/18 and that preferred dividends were last paid on 12/31/16, show how much the preferred and common stockholders should receive if...
Eugene Inc.’s statement of stockholders’ equity on December 31, 2016 is as follows: 5% cumulative preferred...
Eugene Inc.’s statement of stockholders’ equity on December 31, 2016 is as follows: 5% cumulative preferred stock, $75 par,10,000 shares authorized; 6,000 shares issued and outstanding $450,000 Common stock, $1 par, 500,000 share authorized; 385,000 shares issued and outstanding 385,000 Paid-in capital in excess of par - Preferred stock 25,000 Paid-in capital in excess of par - Common stock 2,045,000 Retained earnings 220,000 Total stockholders’ equity $3,125,000 The following transactions occurred during 2017: Instruction: Prepare Journal entries for each of...
Sheffield Corp. December 31, 2020 balance sheet showed the following: 4% preferred stock, $400 par value...
Sheffield Corp. December 31, 2020 balance sheet showed the
following:
4% preferred stock, $400 par value
$421,000
Common stock, $1 par value
527,000
Paid-in capital in excess of par value – preferred stock
79,000
Paid-in capital in excess of par value – common stock
8,440,000
Retained earnings
10,780,000
Treasury stock
162,880
The average cost of the treasury shares was $16 per share.
Answer the following questions:
How many shares of common stock have been issued as of December
31, 2020?...
Sarah Co. has the following stockholders' equity for 12/31/2019: $ 25,000 1,400 26,400 Preferred stock, 8%,...
Sarah Co. has the following stockholders' equity for 12/31/2019: $ 25,000 1,400 26,400 Preferred stock, 8%, $50 par, 3,000 shares authorized, 500 shares issued and outstanding Common stock, $.20 par, 10,000 shares authorized, 7,000 shares issued, and 6,700 shares outstanding Total capital stock Additional paid-in capital: Preferred Common Total paid-in capital Retained earnings Treasury Stock (300 shares at $25 cost) Total stockholders' equity 208,600 235,000 280,000 (7,500 $ 507,500 Required: Record the transactions listed and prepare the 2020 stockholders' equity...
Splish Brothers Inc. December 31, 2020 balance sheet showed the following: 4% preferred stock, $500 par...
Splish Brothers Inc. December 31, 2020 balance sheet showed the following: 4% preferred stock, $500 par value $403,000 Common stock, $1 par value 582,000 Paid-in capital in excess of par value - preferred stock 63,000 Paid-in capital in excess of par value - common stock 8,110,000 Retained earnings 10,740,000 Treasury stock 148,400 The average cost of the treasury shares was $14 per share. Answer the following questions: How many shares of common stock have been issued as of December 31,...
Question 50 Marigold Corporation's December 31, 2018 balance sheet showed the following | 8% preferred stock,...
Question 50 Marigold Corporation's December 31, 2018 balance sheet showed the following | 8% preferred stock, $20 par value, cumulative, 10600 shares authorized; 9100 shares issued Common stock, $10 par value, 980000 shares authorized; 930000 shares issued, 920000 shares outstanding Paid-in capital in excess of par-preferred stock Paid-in capital in excess of par-common stock Retained earnings Treasury stock (14800 shares) $182000 9300000 35000 11420000 3730000 310800 Marigold's total stockholders' equity was $24356200. $24386200. $24986200. $24407200.
explain all answer, no written work
The following information is relevant for question 9 and 10: Tomer's stockholders equity section of the balance sheet for Dec 31 2014 is as follows (amounts in USD): 31/12/2014 Preferred stock, 5%, $120 par, non-cumulative, 6,000 shares 720,000 Common stock, ($2 par value each) 2,100,000 Additional paid-in capital-preferred 50,000 Additional paid-in capital-common 6,300,000 Total paid-in capital 6,350,000 Retained earnings 13,500,000 Total paid-in capital & retained earning 19,850,000 Total owners' equity 22,670,000 9. What were...
Wildhorse Company has two classes of capital stock outstanding:
8%, $20 par preferred and $5 par common. At December 31, 2020, the
following accounts were included in stockholders’ equity.
Preferred Stock, 159,600 shares
$ 3,192,000
Common Stock, 1,970,000 shares
9,850,000
Paid-in Capital in Excess of Par—Preferred Stock
193,000
Paid-in Capital in Excess of Par—Common Stock
27,534,000
Retained Earnings
4,424,000
The following transactions affected stockholders’ equity during
2021.
Jan. 1
29,100 shares of preferred stock issued at $22 per share.
Feb....
Sarasota Company has two classes of capital stock outstanding:
8%, $20 par preferred and $5 par common. At December 31, 2020, the
following accounts were included in stockholders’ equity.
Preferred Stock, 148,200 shares
$ 2,964,000
Common Stock, 1,991,000 shares
9,955,000
Paid-in Capital in Excess of Par—Preferred Stock
207,000
Paid-in Capital in Excess of Par—Common Stock
26,478,000
Retained Earnings
4,495,000
The following transactions affected stockholders’ equity during
2021.
Jan. 1
29,200 shares of preferred stock issued at $23 per share.
Feb....
Wildhorse Company has two classes of capital stock outstanding:
8%, $20 par preferred and $5 par common. At December 31, 2020, the
following accounts were included in stockholders’ equity.
Preferred Stock, 159,600 shares
$ 3,192,000
Common Stock, 1,970,000 shares
9,850,000
Paid-in Capital in Excess of Par—Preferred Stock
193,000
Paid-in Capital in Excess of Par—Common Stock
27,534,000
Retained Earnings
4,424,000
The following transactions affected stockholders’ equity during
2021.
Jan. 1
29,100 shares of preferred stock issued at $22 per share.
Feb....
Sheffield Corp. December 31, 2020 balance sheet showed the
following:
4% preferred stock, $400 par value
$421,000
Common stock, $1 par value
527,000
Paid-in capital in excess of par value – preferred stock
79,000
Paid-in capital in excess of par value – common stock
8,440,000
Retained earnings
10,780,000
Treasury stock
162,880
The average cost of the treasury shares was $16 per share.
Answer the following questions:
How many shares of common stock have been issued as of December
31, 2020?...
Sarah Co. has the following stockholders' equity for 12/31/2019: $ 25,000 1,400 26,400 Preferred stock, 8%, $50 par, 3,000 shares authorized, 500 shares issued and outstanding Common stock, $.20 par, 10,000 shares authorized, 7,000 shares issued, and 6,700 shares outstanding Total capital stock Additional paid-in capital: Preferred Common Total paid-in capital Retained earnings Treasury Stock (300 shares at $25 cost) Total stockholders' equity 208,600 235,000 280,000 (7,500 $ 507,500 Required: Record the transactions listed and prepare the 2020 stockholders' equity...
Splish Brothers Inc. December 31, 2020 balance sheet showed the following: 4% preferred stock, $500 par value $403,000 Common stock, $1 par value 582,000 Paid-in capital in excess of par value - preferred stock 63,000 Paid-in capital in excess of par value - common stock 8,110,000 Retained earnings 10,740,000 Treasury stock 148,400 The average cost of the treasury shares was $14 per share. Answer the following questions: How many shares of common stock have been issued as of December 31,...
Question 50 Marigold Corporation's December 31, 2018 balance sheet showed the following | 8% preferred stock, $20 par value, cumulative, 10600 shares authorized; 9100 shares issued Common stock, $10 par value, 980000 shares authorized; 930000 shares issued, 920000 shares outstanding Paid-in capital in excess of par-preferred stock Paid-in capital in excess of par-common stock Retained earnings Treasury stock (14800 shares) $182000 9300000 35000 11420000 3730000 310800 Marigold's total stockholders' equity was $24356200. $24386200. $24986200. $24407200.
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