Homework Answers
| Date | General Journal | Debit | Credit |
| Feb. 1 | Cash | 32340 | |
| Common stock (4620 x $5) | 23100 | ||
| Paid-in capital in excess of stated value-common stock | 9240 | ||
| (To record the issuance of common stock) | |||
| Mar. 20 | Treasury stock (1550 x $9) | 13950 | |
| Cash | 13950 | ||
| (To record the purchase of treasury stock) | |||
| Oct. 1 | Cash dividends | 16800 | |
| Dividends payable (7% x $240000) | 16800 | ||
| (To record preferred dividends declared) | |||
| Nov. 1 | Dividends payable | 16800 | |
| Cash | 16800 | ||
| (To record the payment of dividends declared) | |||
| Dec. 1 | Cash dividends | 216589 | |
| Dividends payable [$0.80 x ($1358333/5 - 4000 + 4620 - 1550)] | 216589 | ||
| (To record common dividend declared) | |||
| Dec. 31 | Income summary | 279000 | |
| Retained earnings | 279000 | ||
| (To record net income) | |||
| Dec. 31 | Retained earnings | 233389 | |
| Cash dividends | 233389 | ||
| (To close cash dividends) | |||
| Dec. 31 | Dividends payable | 216589 | |
| Cash | 216589 | ||
| (To record the payment of dividends declared) |
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The stockholders' equity accounts of Indigo Corporation on January 1, 2017,...
The stockholders’ equity accounts of Indigo Corporation on January 1, 2017, were as follows. Preferred Stock...
The stockholders’ equity accounts of Indigo Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,000 shares authorized) $240,000 Common Stock ($5 stated value, 326,000 shares authorized) 1,358,333 Paid-in Capital in Excess of Par Value—Preferred Stock 12,000 Paid-in Capital in Excess of Stated Value—Common Stock 521,600 Retained Earnings 711,000 Treasury Stock (4,000 common shares) 32,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 4,620 shares...
Problem 11-2A (Part Level Submission) The stockholders' equity accounts of Indigo Corporation on January 1, 2017,...
Problem 11-2A (Part Level Submission) The stockholders' equity accounts of Indigo Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,000 shares authorized) Common Stock ($5 stated value, 326,000 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 (4,000 common shares) $240,000 1,358,333 12,000 521,600 711,000 32,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity....
The stockholders' equity accounts of Indigo Corporation on January 1, 2022, were as follows. Preferred Stock...
The stockholders' equity accounts of Indigo Corporation on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 10,000 shares authorized) Common Stock ($4 stated value, 600,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock $600,000 2,000,000 30,000 960,000 Retained Earnings 1,376,000 Treasury Stock (10,000 common shares) 80,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 10,000 shares...
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...
The stockholders' equity accounts of Flint Corporation on January 1, 2017, were as follows. Preferred Stock...
The stockholders' equity accounts of Flint Corporation on January 1, 2017, were as follows. Preferred Stock (896, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value, 300,000 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 (5,000 common shares) $300,000 1,000,000 15,000 480,000 686,500 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1...
??? P11-2A The stockholders' equity accounts of Cyrus Corporation on January 1, 2017, were as follows....
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P11-2A The stockholders' equity accounts of Cyrus Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value, 300,000 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 (5,000 common shares) 300,000 1,000,000 15,000 480,000 688,000 40,000 the corporation had the following transactions and events pertaining to its During 2017, stockholders' equity. Feb. 1 Issued...
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 accounts of Cyrus Corporation on January 1, 2017, were as follows. Preferred Stock...
The stockholders’ equity accounts of Cyrus Corporation on
January 1, 2017, were as follows.
Preferred Stock (7%, $100 par noncumulative, 5,000 shares
authorized)
$300,000
Common Stock ($4 stated value, 300,000 shares authorized)
1,000,000
Paid-in Capital in Excess of Par Value—Preferred Stock
15,000
Paid-in Capital in Excess of Stated Value—Common Stock
480,000
Retained Earnings
688,000
Treasury Stock (5,000 common shares)
40,000
During 2017, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 5,000 shares...
The stockholders' equity accounts of Culver Corporation on January 1, 2017, were as follows. Preferred Stock...
The stockholders' equity accounts of Culver Corporation on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 4,850 shares authorized) Common Stock ($3 stated value, 316,000 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 (4,850 common shares) $291,000 790,000 14,550 505,600 694,500 38,800 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 4,700 shares...
The stockholders' equity accounts of Culver Corporation on lanuary 1, 2017, were as follows. Preferred Stock...
The stockholders' equity accounts of Culver Corporation on lanuary 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 4,850 shares authorized) Common Stock ($3 stated value, 316,000 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 (4,850 common shares) $291,000 790,000 14,550 505,600 694,500 38,800 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 4,700...
Problem 11-2A (Part Level Submission) The stockholders' equity accounts of Indigo Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,000 shares authorized) Common Stock ($5 stated value, 326,000 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 (4,000 common shares) $240,000 1,358,333 12,000 521,600 711,000 32,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity....
The stockholders' equity accounts of Indigo Corporation on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 10,000 shares authorized) Common Stock ($4 stated value, 600,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock $600,000 2,000,000 30,000 960,000 Retained Earnings 1,376,000 Treasury Stock (10,000 common shares) 80,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 10,000 shares...
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...
The stockholders' equity accounts of Flint Corporation on January 1, 2017, were as follows. Preferred Stock (896, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value, 300,000 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 (5,000 common shares) $300,000 1,000,000 15,000 480,000 686,500 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1...
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P11-2A The stockholders' equity accounts of Cyrus Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value, 300,000 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 (5,000 common shares) 300,000 1,000,000 15,000 480,000 688,000 40,000 the corporation had the following transactions and events pertaining to its During 2017, stockholders' equity. Feb. 1 Issued...
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 accounts of Cyrus Corporation on
January 1, 2017, were as follows.
Preferred Stock (7%, $100 par noncumulative, 5,000 shares
authorized)
$300,000
Common Stock ($4 stated value, 300,000 shares authorized)
1,000,000
Paid-in Capital in Excess of Par Value—Preferred Stock
15,000
Paid-in Capital in Excess of Stated Value—Common Stock
480,000
Retained Earnings
688,000
Treasury Stock (5,000 common shares)
40,000
During 2017, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 5,000 shares...
The stockholders' equity accounts of Culver Corporation on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 4,850 shares authorized) Common Stock ($3 stated value, 316,000 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 (4,850 common shares) $291,000 790,000 14,550 505,600 694,500 38,800 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 4,700 shares...
The stockholders' equity accounts of Culver Corporation on lanuary 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 4,850 shares authorized) Common Stock ($3 stated value, 316,000 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 (4,850 common shares) $291,000 790,000 14,550 505,600 694,500 38,800 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 4,700...
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