Stockholders' Equity | |||
Contributed Capital: | |||
Common Stock | 126600 | =21100*6 | |
Preferred Stock | 6600 | =1100*6 | |
Additional Paid in Capital-Common Stock | 126600 | =21100*(12-6) | |
Additional Paid in Capital-Preferred Stock | 11000 | =1100*(16-6) | |
Total Contributed Capital | 270800 | ||
Retained Earnings | 41100 | ||
Total Stockholders' Equity | 311900 |
E11-3 (Algo) Determining the Effects of the issuance of common and Preferred Stock LO11-1, 11-3, 11-7,...
E11-3 Preparing the Stockholders' Equity Section of the Balance Sheet (LO 11-2, LO 11-4) North Wind Aviation received its charter during January authorizing the following capital stock: Preferred stock: 8 percent, par $10, authorized 20,000 shares. Common stock: par $1, authorized 50,000 shares. The following transactions occurred during the first year of operations in the order given: a. Issued a total of 45,000 shares of the common stock for $20 per share. b. Issued 12,000 shares of the preferred stock...
Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the followin Common stock, $6 par value, 115,000 shares authorized Preferred stock, 7 percent, par value $10 per share, 4,900 shares authorized During the year, the following transactions took place in the order presented: a. Sold and issued 21,700 shares of common stock at $20 cash per share. b. Sold and issued 1,300 shares of preferred stock at $24 cash...
E11-4 Reporting the Stockholders' Equity Section of the Balance Sheet [LO 11-2, LO 11-3, LO 11-4] Shelby Corporation was organized in January to operate an air-conditioning sales and service business. The charter issued by the state authorized the following capital stock: Common stock, $1 par value, 200,000 shares. Preferred stock, $10 par value, 6 percent, 50,000 shares. During January and February, the following stock transactions were completed: a. Collected $169,000 cash and issued 13,000 shares of common stock. b. Issued...
Required information E11-4 (Algo) Reporting Stockholders' Equity LO11-1, 11-2, 11-3 [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: Common stock Retained earnings Net income Shares issued Shares outstanding Dividends declared and paid $1,090,000 $ 790,000 $1,180,000 109,000 77,000 $ 620,000 The common stock was sold at a price of $21 per share. E11-4 Part 1 Required: 1. What is the amount of additional paid-in capital? Additional paid-in capital...
E11-7 Finding Amounts Missing from the Stockholders Equity Section [LO 11-2, LO 11-4] The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued of which 1,000 shares are held as treasury stock) Additional Paid-in Capital, Preferred Common Stock (no-par, authorized 20,000 shares, issued and 110,000 15,950 outstanding 6,300 shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost 648,900 33,000 9,650 Assume...
help me. Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following Common stock, $7 par value, 117,000 shares authorized Preferred stock, 11 percent, par value $12 per share, 5.700 shares authorized During the year, the following transactions took place in the order presented:...
Required information E11-4 (Algo) Reporting Stockholders' Equity LO11-1, 11-2, 11-3 [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: Common stock Retained earnings Net income Shares issued Shares outstanding Dividends declared and paid $1,500,000 $ 800,000 $1,130,000 100,000 76,000 $ 790,000 The common stock was sold at a price of $21 per share. E11-4 Part 2 2. What was the amount of retained earnings at the beginning of the...
2 Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following Preferred stock, 9 percent, par value $6 per share, 5,900 shares authorized During the year, the following transactions took place in the order presented a Sold and issued 21,800 shares of common stock at $12 cash per share. b. Sold and issued 1,100 shares of preferred stock at $16 cash per share. c. At the end of...
North Wind Aviation received its charter during January authorizing the following capital stock: Preferred stock: 8 percent, par $10, authorized 20,000 shares. Common stock: par $i, authorized 50,000 shares. The following transactions occurred during the first year of operations in the order given: a. Issued a total of 39,000 shares of the common stock for $16 per share. b. Issued 12,000 shares of the preferred stock at $17 per share. c. Issued 2,900 shares of the common stock at $21...
Can someone please help explain how to solve this problem and find the numbers. Thank you. E11-3 Preparing the Stockholders' Equity Section of the Balance Sheet [LO 11-2, LO 11-4] 25 pints North Wind Aviation received its charter during January authorizing the following capital stock: Preferred stock: 8 percent, par $10, authorized 20,000 shares. Common stock: par $1, authorized 50,000 shares. The following transactions occurred during the first year of operations in the order given: a. Issued a total of...