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10114 EXERCISE 11.12 Authorized Stock b. Assume that the company classified the b the current asset...
36. Clayton Co. has common stock with $1 par value; 100,000 shares are authorized, 80,000 shares...
36. Clayton Co. has common stock with $1 par value; 100,000 shares are authorized, 80,000 shares are issued, and 75,000 shares are outstanding. a. What is the value of the common stock as presented on the balance sheet? b. How many shares of treasury stock are there? c. If a $2 dividend was declared by the board of directors, what would the total dividend payment be
If a company has 1,000,000 shares of $2 par value common stock authorized, and has 100,000...
If a company has 1,000,000 shares of $2 par value common stock authorized, and has 100,000 shares issued at $4 a share and 20,000 shares of common stock are held in the treasury, the general ledger account for common stock would have a balance of a. $4,000,000 b. $2,000,000 c. $400,000 d. $200,000 e. $160,000
Bruins Inc. has the following items in their current balance sheet: Common Stock 10,000,000 shares authorized,...
Bruins Inc. has the following items in their current balance sheet: Common Stock 10,000,000 shares authorized, $1,000,000 issued $3,000,000 Capital Surplus $9,000,000 Treasury Stock on Common 100,000 shares $6,000,000 Cumulative Preferred Stock 500,000 authorized [2%] $100 par $8,000,000 Treasury Stock on Preferred Stock 10000 shares $6,000,000 Retained Earnings $60,000,000 Bruins Inc. wishes to announce a total cash dividend of $40,000,000. How is this dividend to be split between the common and preferred stockholders? What is the dividend per share...
ACC 3020 FA 2019 Class exercise: Ch 18-19 Ch. 18 Bentley Corporation's corporate charter authorized the...
ACC 3020 FA 2019 Class exercise: Ch 18-19 Ch. 18 Bentley Corporation's corporate charter authorized the issuance of 10,000,000 shares of $1 par value common stock and 1,000,000 shares of 5%, $25 par value, cumulative, nonparticipating preferred stock. At December 31, 2018, the shareholders' equity section of Bentley's balance sheet included the following: All numbers in millions, except numbers of shares and per share amounts Preferred stock: 5%, $25 par/share; cumulative, nonparticipating; 1,000,000 shares authorized, issued, and outstanding $ 25...
Mesa Company is authorized to issue 1,000,000 shares of its $5 par value common stock and...
Mesa Company is authorized to issue 1,000,000 shares of its $5 par value common stock and 600,000 shares of its $10 par value preferred stock. During 2018 – its first year of business - the company earned $650,000 of net income and had the following select transactions. No dividends were declared or paid throughout the year. The net income and events below are the only ones that impact Stockholders’ Equity this year. 1. Issued 300,000 shares of common stock for...
Minor Company is authorized to sell 1,200,000 shares preferred stock. As of the end of the...
Minor Company is authorized to sell 1,200,000 shares preferred stock. As of the end of the current year, th 40,000 shares of preferred stock at S shares have been repurchased at $23 per share stock option plan that the company intends to implement orized to sell 1,200,000 shares of $10 par value common stock and 60,000 shares of $100 par value 6 percent nd of the current year, the company has actually sold 550.000 shares of common stock at $12...
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $10 par, 20,000 shares authorize...
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $10 par, 20,000 shares authorized, 2,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $20,000 15,000 82,000 JAE Corp. completed the following transactions during 2018: 1. Issued 3,000 shares of $10 par common stock for $25 per share. 2. Repurchased 500 shares of its own common stock for $26 per share. 3. Resold 200 shares of treasury stock for $30 per...
Common stock (par $1; no changes during the current year). Shares authorized 10,000,000. Shares issued, ?...
Common stock (par $1; no changes during the current year). Shares authorized 10,000,000. Shares issued, ? issue price $10 per share. Shares held as treasury stock, 53,000 shares, cost $11 per share. Net income for the current year, $1,672,100 Common Stock account, $780,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $36,700,000. Required: Complete the following: (Round per share to 2 decimal places.) 780,000 2 Shares issued Shares outstanding The balance...
Exercise 8-9 Common stock balance sheet disclosure LO 1 The balance sheet caption for common stock...
Exercise 8-9 Common stock balance sheet disclosure LO 1 The balance sheet caption for common stock is the following: Common stock, $3 par value, 2,510,000 shares authorized, 1,030,000 shares issued, 930,000 shares outstanding $ ? Required: a. Calculate the dollar amount that will be presented opposite this caption. b. Calculate the total amount of a cash dividend of $.25 per share. c. What accounts for the difference between issued shares and outstanding shares? Dividend Treasury stock
The 2016 annual report for General Mills disclosed that 1 billion shares of common stock have...
The 2016 annual report for General Mills disclosed that 1 billion shares of common stock have been authorized. At the end of 2015, 755 million shares had been issued and the number of shares in treasury stock was 156 million. During 2016, the only common share transactions were that 9 million common shares were reissued from treasury and 11 million common shares were purchased and held as treasury stock Required: Determine the number of common shares (a) issued, (b) in...
36. Clayton Co. has common stock with $1 par value; 100,000 shares are authorized, 80,000 shares are issued, and 75,000 shares are outstanding. a. What is the value of the common stock as presented on the balance sheet? b. How many shares of treasury stock are there? c. If a $2 dividend was declared by the board of directors, what would the total dividend payment be
ACC 3020 FA 2019 Class exercise: Ch 18-19 Ch. 18 Bentley Corporation's corporate charter authorized the issuance of 10,000,000 shares of $1 par value common stock and 1,000,000 shares of 5%, $25 par value, cumulative, nonparticipating preferred stock. At December 31, 2018, the shareholders' equity section of Bentley's balance sheet included the following: All numbers in millions, except numbers of shares and per share amounts Preferred stock: 5%, $25 par/share; cumulative, nonparticipating; 1,000,000 shares authorized, issued, and outstanding $ 25...
Minor Company is authorized to sell 1,200,000 shares preferred stock. As of the end of the current year, th 40,000 shares of preferred stock at S shares have been repurchased at $23 per share stock option plan that the company intends to implement orized to sell 1,200,000 shares of $10 par value common stock and 60,000 shares of $100 par value 6 percent nd of the current year, the company has actually sold 550.000 shares of common stock at $12...
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $10 par, 20,000 shares authorized, 2,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $20,000 15,000 82,000 JAE Corp. completed the following transactions during 2018: 1. Issued 3,000 shares of $10 par common stock for $25 per share. 2. Repurchased 500 shares of its own common stock for $26 per share. 3. Resold 200 shares of treasury stock for $30 per...
Common stock (par $1; no changes during the current year). Shares authorized 10,000,000. Shares issued, ? issue price $10 per share. Shares held as treasury stock, 53,000 shares, cost $11 per share. Net income for the current year, $1,672,100 Common Stock account, $780,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $36,700,000. Required: Complete the following: (Round per share to 2 decimal places.) 780,000 2 Shares issued Shares outstanding The balance...
The 2016 annual report for General Mills disclosed that 1 billion shares of common stock have been authorized. At the end of 2015, 755 million shares had been issued and the number of shares in treasury stock was 156 million. During 2016, the only common share transactions were that 9 million common shares were reissued from treasury and 11 million common shares were purchased and held as treasury stock Required: Determine the number of common shares (a) issued, (b) in...
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