1 | Date | Account Titles and Explanation | Debit | Credit |
Dec-31 | Retained Earnings | $232,650 | ||
Cash Dividends | $232,650 | |||
($21,000 + $211,650) | ||||
2 | Preferred Stock | |||
1/1 Bal. | $300,000 | |||
12/31 Bal. | $300,000 | |||
3 | Paid-in Capital in Excess of Par Value - Preferred Stock | |||
1/1 Bal. | $15,000 | |||
12/31 Bal. | $15,000 | |||
4 | ||||
Payout Ratio | ||||
$211,650 / $276,500 = 76.55% | ||||
Earning Per Share | ||||
($276,500 - $21,000) / [(250,000 - 5,000) + (255,000 - 6,000)] ÷ 2 | ||||
$255,500 / 247,000 = $1.03 |
Anything helps! Thanks! Problem 11-2A The stockholders' equity accounts of Blue Spruce Corp. on January 1,...
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Any help would be very much appreciated! Problem 11-2A The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized) Common Stock (S4 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 Eamings Treasury Stock (5,000 common shares) $300,000 1,000,000 15,000 480,000 685,500 40,000 During 2017, the corporation had the following transactions and events...
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The stockholders’ equity accounts of Blue Spruce Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 13,000 shares authorized). 780,000 Common Stock ($4 stated value, 780,000 shares authorized). 2,600,000 Paid-in Capital in Excess of Par Value—Preferred Stock. 39,000 Paid-in Capital in Excess of Stated Value—Common Stock. 1,248,000 Retained Earnings. 1,788,800 Treasury Stock (13,000 common shares). 104,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 13,000...
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