Mar-01 | Treasury stock (7000*$8) | 56000 | |
Cash | 56000 | ||
Jun-01 | Cash (1500*$13) | 19500 | |
Paid in capital from Treasury stock (1500*$5) | 7500 | ||
Treasury stock (1500*$8) | 12000 | ||
Sep-01 | Cash (1500*$10) | 15000 | |
Paid in capital from Treasury stock (1500*$2) | 3000 | ||
Treasury stock (1500*$8) | 12000 | ||
Dec-01 | Cash (1000*$7) | 7000 | |
Paid in capital from Treasury stock (1000*$1) | 1000 | ||
Treasury stock (1000*$8) | 8000 | ||
Dec-31 | Income summary | 26000 | |
Retained earnings | 26000 |
PAID IN CAPITAL FROM TREASURY STOCK | |||
12/01/2020-Treasury stock | 1000 | 7500 | 06/01/2020-Cash |
3000 | 09/01/2020-Cash | ||
1000 | 10500 | ||
9500 | |||
TREASURY STOCK | |||
1/1/2020-Cash | 56000 | 12000 | 06/01/2020-Cash |
12000 | 09/01/2020-Cash | ||
8000 | 12/01/2020-Cash | ||
56000 | 32000 | ||
12/31/2020 End Bal | 24000 | ||
RETAINED EARNINGS | |||
100000 | 01-01-2020-Beg Bal | ||
26000 | 12/31/2020-Income Summary | ||
126000 | 12/31/2020 End Bal |
BALANCE SHEET (PARTIAL) | ||
Total liabilities & Stockholders' equity: | ||
Stockholders' Equity: | ||
Paid in capital: | ||
Common stock, $ 5 par, 110,000 issued | 550000 | |
Additional paid in capital: | ||
Common stock | 180000 | |
Paid in capital from treasury stock | 9500 | |
Total additional paid in capital | 189500 | |
Total paid in capital | 739500 | |
Retained earnings | 126000 | |
Total paid in capital and retained earnings | 865500 | |
Less: | ||
Treasury stock | 24000 | |
Total stockholders' equity | 841500 |
*Problem 13-02A a-c Pronghorn Corporation had the following stockholders' equity accounts on January 1, 2020: Common...
Problem 13-02A a-c (Part Level Submission) Riverbed Corporation had the following stockholders' equity accounts on January 1, 2020: Common Stock ($5 par) $550,000, Paid-in Capital in Excess of Par-Common n)Stock $200,000, and Retained Earnings $120,000. In 2020, the company had the foilowing treasury stock transactions on Mar. 1 Purchased 6,500 shares at $8 per share June 1 Sold 1,500 shares at $13 per share Sept.1 Sold 1,500 shares at $10 per share. Dec. 1 Sold 1,000 shares at $6 per...
Culver Corporation had the following stockholders’ equity accounts on January 1, 2020: Common Stock ($5 par) $550,000, Paid-in Capital in Excess of Par—Common Stock $195,000, and Retained Earnings $120,000. In 2020, the company had the following treasury stock transactions. Mar. 1 Purchased 5,500 shares at $8 per share. June 1 Sold 1,500 shares at $13 per share. Sept. 1 Sold 2,000 shares at $11 per share. Dec. 1 Sold 1,500 shares at $6 per share. Culver Corporation uses the cost...
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Problem 14-03A a-d On January 1, 2020, Crane Corporation had the following stockholders' equity accounts. Common Stock (no par value, 87,000 shares issued and outstanding) Retained Earnings $1,385,000 544,000 During the year, the following transactions occurred. Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 3-for-1 stock split. Prior to the split, the market price per share was...
Problem 14-03A a-d On January 1, 2020, Oriole Corporation had the following stockholders’ equity accounts. Common Stock (no par value, 88,000 shares issued and outstanding) $1,415,000 Retained Earnings 457,000 During the year, the following transactions occurred. Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 3-for-1 stock split. Prior to the split, the market price per share was...
P13-2B Dougherty Corporation had the following stockholders' equity accounts on January 21, 2012: Common Stock (51 par) $400,000, Paid-in Capital in Excess of Par-Common Stock $500,000, and Retained Earnings $100,000. In 2012, the company had the following treasury stock transactions. Mar. 1 Purchased 5,000 shares at $7 per share. June 1 Sold 1,000 shares at $10 per share. Sept. 1 Sold 2,000 shares at $9 per share. Dec. 1 Sold 1,000 shares at $5 per share. Dougherty Corporation uses the...
How can I get the IS and RE? Problem 13-02A a Fechter Corporation had the following stockholders' equity accounts on January 1, 2020: Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Par-Common Stock $200,000, and Retained Earnings $100,000. In 2020, the company had the following treasury stock transactions. Mar. 1 Purchased 5,000 shares at $8 per share. une 1 Sold 1,000 shares at $12 per share. Sept.1 Sold 2,000 shares at $10 per share. Dec. 1 Sold 1,000...
The following stockholders’ equity accounts arranged alphabetically are in the ledger of Pronghorn Corporation at December 31, 2020. Common Stock ($6 stated value) $2,412,000 Paid-in Capital from Treasury Stock 10,000 Paid-in Capital in Excess of Par—Preferred Stock 660,000 Paid-in Capital in Excess of Stated Value—Common Stock 1,590,000 Preferred Stock (8%, $55 par) 852,500 Retained Earnings 1,759,000 Treasury Stock (10,500 common shares) 136,500 Prepare a stockholders’ equity section at December 31, 2020. (Enter the account name only and do not provide...
On January 1, 2020, Pharoah Company had the following stockholders' equity accounts. Common Stock ($26 par value, 58,500 shares issued and outstanding) $1,521,000 Paid-in Capital in Excess of Par-Common Stock 192,000 Retained Earnings 622,000 During the year, the following transactions occurred. Feb. Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. Paid the dividend declared in February. Apr. Announced a 2-for-1 stock split. Prior to the split, the market price per...
On January 1, 2020, Agassi Corporation had the following stockholders' equity accounts. Common Stock ($10 par value, 50,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $500,000 502,000 605,000 During 2020, the following transactions occurred. Jan. 15 Declared and paid a $1.05 cash dividend per share to stockholders. Declared and paid a 10% stock dividend. The market price of the stock was $13 per share. Apr. 15 May 15 Reacquired 2,000 common shares at a...