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White Pear Inc., an organic soap manufacturer, showed the following equity Information as at December 31,...
The equity section of the December 31, 2019, balance sheet for Delicious Alternative Desserts Inc. showed...
The equity section of the December 31, 2019, balance sheet for Delicious Alternative Desserts Inc. showed the following: Delicious Alternative Desserts Inc. Equity Section of the Balance Sheet December 31, 2019Contributed capital: Preferred shares, $0.40 cumulative; 80,000 shares authorized; 50,000 shares issued and outstanding$200,000 Common shares; 250,000 shares authorized; 110,000 shares issued and outstanding 176,000 Total contributed capital$376,000 Retained earnings 148,000 Total equity$524,000 During the year 2020, the company had the following transactions affecting equity accounts: Jan.3 Sold 10,000 common...
Mady Entertainment Inc. showed the following equity account balances on the December 31, 2019, balance sheet:...
Mady Entertainment Inc. showed the following equity account
balances on the December 31, 2019, balance sheet:
Common shares, unlimited authorized shares, 550,000 shares
issued and outstanding
$
3,850,000
Retained earnings
2,580,000
During 2020, the following selected transactions occurred:
Apr.
1
Repurchased and retired 150,000 common shares at $7.60 per
share; this is the first retirement recorded by Mady.
June
1
Declared a 2:1 share split to shareholders of record on June
12, distributable June 30.
Dec.
1
Declared a 10%...
3. Saturn Enterprises Inc. reported the following shareholders' equity on December 31, 2017 Preferred shares, $1...
3. Saturn Enterprises Inc. reported the following shareholders' equity on December 31, 2017 Preferred shares, $1 annual cumulative dividend, no par value, redeemable at $105 Common shares, no par value, authorized -1,000,000 shares; issued and outstanding Contributed surplus- common shares authorized -100,000 shares; issued and outstanding-40,000 shares $4,000,000 500,000 shares 5,000,000 240,000 Retained earnings he following transactions occurred in 2018: Jan 1, Saturn redeemed 10,000 preferred shares at call price. June 1, Saturn retired 100,000 common shares for $15 per...
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...
Swifty Corporation's December 31, 2020 balance sheet showed the following
Swifty Corporation's December 31, 2020 balance sheet showed the following: 9% preferred stock, $20 par value, cumulative, 9400 shares authorized; 6400 shares issued $ 128000 Common stock, $10 par value, 1020000 shares authorized; 920000 shares issued, 900000 shares outstanding 9200000 Paid-in capital in excess of par-preferred stock 33000 Paid-in capital in excess of...
QUESTION IN-EQUITY SECTION OF THE BALANCE SHEET (10 marks) Listed below is Pucci Incorporated's equity Information...
QUESTION IN-EQUITY SECTION OF THE BALANCE SHEET (10 marks) Listed below is Pucci Incorporated's equity Information as at December 31, 2018. Additional information is as follows: The preferred shares had sold for an average price of $15/share and the common shares had sold for an average of $4/share. Retained earnings at December 31, 2017 was $250,000. During 2018, profit of $130,000 was earned and dividends of $25,000 were declared. Equity Section of the Balance Sheet Ast December 11, 2018 Contributed...
ION OF THE BALANCE SHEET (10 marks) Listed below is Pucci Incorporated's equity information as at...
ION OF THE BALANCE SHEET (10 marks) Listed below is Pucci Incorporated's equity information as at December 31, 2018. Additional information is as follows: The preferred shares had sold for an average price of $15/share and the common shares had sold for an average of $4/share. • Retained earnings at December 31, 2017 was $250.000, During 2018, profit of $130,000 was earned and dividends of $25,000 were declared. Puc Equity Section oft the alance Sheet Aat December 3a1, 201 Contributed...
Sage Company reported the following amounts in the stockholders’ equity section of its December 31, 2016,...
Sage Company reported the following amounts in the stockholders’ equity section of its December 31, 2016, balance sheet. Preferred stock, 10%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 Common stock, $5 par (103,500 shares authorized, 20,700 shares issued) 103,500 Additional paid-in capital 114,000 Retained earnings 423,000 Total $820,500 During 2017, Sage took part in the following transactions concerning stockholders’ equity. 1. Paid the annual 2016 $10 per share dividend on preferred stock and a $2 per share dividend...
The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, 2018,...
The stockholders’ equity section of the balance sheet for Mann
Equipment Co. at December 31, 2018, is as follows.
Stockholders' Equity Paid-in capital Preferred stock,? par value, 4% cumulative, 290,000 shares authorized, 59,000 shares $590,006 1ssued and outstanding Common stock, $15 stated value, 340,000 shares authorized, 59,000?? shares issued and 885,000 49,000 outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated 295,000 value-Common Total paid-in capital Retained earnings Treasury stock, 3,000 shares Total stockholders equity 1,819,000...
Coronado Corporation's December 31, 2020 balance sheet showed the following: $ 130000 7% preferred stock, $20...
Coronado Corporation's December 31, 2020 balance sheet showed the following: $ 130000 7% preferred stock, $20 par value, cumulative, 9500 shares authorized; 6500 shares issued Common stock, $10 par value, 1010000 shares authorized; 910000 shares issued, 890000 shares outstanding Paid-in capital in excess of par-preferred stock Paid-in capital in excess of par-common stock Retained earnings Treasury stock (10067 shares) 9100000 35000 11460000 3760000 317100 Coronado's total stockholders' equity was $24218900. $24197900. $24797900. $24167900.
Mady Entertainment Inc. showed the following equity account
balances on the December 31, 2019, balance sheet:
Common shares, unlimited authorized shares, 550,000 shares
issued and outstanding
$
3,850,000
Retained earnings
2,580,000
During 2020, the following selected transactions occurred:
Apr.
1
Repurchased and retired 150,000 common shares at $7.60 per
share; this is the first retirement recorded by Mady.
June
1
Declared a 2:1 share split to shareholders of record on June
12, distributable June 30.
Dec.
1
Declared a 10%...
3. Saturn Enterprises Inc. reported the following shareholders' equity on December 31, 2017 Preferred shares, $1 annual cumulative dividend, no par value, redeemable at $105 Common shares, no par value, authorized -1,000,000 shares; issued and outstanding Contributed surplus- common shares authorized -100,000 shares; issued and outstanding-40,000 shares $4,000,000 500,000 shares 5,000,000 240,000 Retained earnings he following transactions occurred in 2018: Jan 1, Saturn redeemed 10,000 preferred shares at call price. June 1, Saturn retired 100,000 common shares for $15 per...
QUESTION IN-EQUITY SECTION OF THE BALANCE SHEET (10 marks) Listed below is Pucci Incorporated's equity Information as at December 31, 2018. Additional information is as follows: The preferred shares had sold for an average price of $15/share and the common shares had sold for an average of $4/share. Retained earnings at December 31, 2017 was $250,000. During 2018, profit of $130,000 was earned and dividends of $25,000 were declared. Equity Section of the Balance Sheet Ast December 11, 2018 Contributed...
ION OF THE BALANCE SHEET (10 marks) Listed below is Pucci Incorporated's equity information as at December 31, 2018. Additional information is as follows: The preferred shares had sold for an average price of $15/share and the common shares had sold for an average of $4/share. • Retained earnings at December 31, 2017 was $250.000, During 2018, profit of $130,000 was earned and dividends of $25,000 were declared. Puc Equity Section oft the alance Sheet Aat December 3a1, 201 Contributed...
The stockholders’ equity section of the balance sheet for Mann
Equipment Co. at December 31, 2018, is as follows.
Stockholders' Equity Paid-in capital Preferred stock,? par value, 4% cumulative, 290,000 shares authorized, 59,000 shares $590,006 1ssued and outstanding Common stock, $15 stated value, 340,000 shares authorized, 59,000?? shares issued and 885,000 49,000 outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated 295,000 value-Common Total paid-in capital Retained earnings Treasury stock, 3,000 shares Total stockholders equity 1,819,000...
Coronado Corporation's December 31, 2020 balance sheet showed the following: $ 130000 7% preferred stock, $20 par value, cumulative, 9500 shares authorized; 6500 shares issued Common stock, $10 par value, 1010000 shares authorized; 910000 shares issued, 890000 shares outstanding Paid-in capital in excess of par-preferred stock Paid-in capital in excess of par-common stock Retained earnings Treasury stock (10067 shares) 9100000 35000 11460000 3760000 317100 Coronado's total stockholders' equity was $24218900. $24197900. $24797900. $24167900.
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