Homework Answers
December 31, 2019 stockholders' equity = December 31, 2018 stockholders' equity + 2019 net income - 2019 cash dividend declarations + 2019 common stock issued + 2019 treasury stock resold – 2018 stock purchases = 532000+61800-19800+62000+16800-13800 = 639000
Stock dividends have no effect total stockholders' equity.
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A company reported total stockholders' equity of $532,000 on its balance sheet dated December 31, 2018....
A company reported total stockholders' equity of $336,000 on its balance sheet dated December 31, 2018....
A company reported total stockholders' equity of $336,000 on its balance sheet dated December 31, 2018. During the year ended December 31, 2019, the company reported net income of $41,400, declared and paid a cash dividend of $9,400, declared and distributed a 10% stock dividend with a $11,400 total market value, issued additional common stock for $56,000, and paid $13,400 to purchase treasury stock. What is total stockholders' equity as of December 31, 2019? Multiple Choice: $424,000. $410,600. $399,200. $437,400.
The balance sheet of MacMillan Management Consulting, Inc. at December 31, 2017, reported the followingstockholders' equity...
The balance sheet of MacMillan Management Consulting, Inc. at
December 31, 2017, reported the followingstockholders'
equity
During 2018, MacMillan completed the following selected
transactions:
1.
Record the transactions in the general journal.
2.
Prepare a retained earnings statement for the year ended
December 31, 2018. Assume MacMillan's net income for the year was
$88,000.
3.
Prepare the stockholders' equity section of the balance sheet
at December31, 2018.
Feb.
6
Declared a 15% stock dividend on common stock. The market value...
Bonita Company reported the following amounts in the stockholders' equity section of its December 31, 2019,...
Bonita Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 10%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (98,500 shares authorized, 19,700 shares issued) 98,500 Additional paid-in capital 135,000 Retained earnings 479,000 Total $912,500 During 2020, Bonita took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend...
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 Apples balance sheet as of December 31, 2018 is as follows:...
The stockholders' equity section of Apples balance sheet as of December 31, 2018 is as follows: Stockholders' Equity - Preferred Stock, 4% $100 par value, 100,000 shares authorized and 5000 shares issued and outstanding = $500,000 - Common stock, $10 par value; authorized, 2,000,000 shares auth; issued and outstanding 60,000 shares = $600,000 - Paid-in capital in excess of par = $850,000 - Retained earnings = $4,000,000 to The following events occurred during 2019: Jan. 5: 20,000 shares of authorized...
STEINER CORPORATION Partial Balance Sheet December 31, 2018 Stockholders’ equity 8% Preferred stock, $100 par value,...
STEINER CORPORATION Partial Balance Sheet December 31, 2018 Stockholders’ equity 8% Preferred stock, $100 par value, cumulative, 5,000 shares issued ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$500,000 In excess of par value— preferred stock ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $280,000 Common stock, $5 par value, 440,000 shares issued ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$2,200,000 In excess of par value—common stock ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $800,000 Total paid-in capital ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $3,780,000 Retained earnings ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $1,334,000 Total paid-in capital and retained earnings ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$5,114,000 Less: Treasury stock (10,000 common shares) ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ($120,000) Total stockholders’ equity ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $4,994,000 On December 1, 2018, the...
he stockholders' equity section of KMG ple's balance sheet at December 31, 2018, was as follows:...
he stockholders' equity section of KMG ple's balance sheet at December 31, 2018, was as follows: (Click the icon to view the balance sheet.) Read the resuirements Requirement a. Prepare the journal entry required on January 9, 2019, fon that date KMG repurchased 75,000 shares of treasury stock for $1,200,000. (Record debits first, then credits Exclude explanation Account i Requirements Requirement b. On March 23, 2019, KMG sold 8,000 of the treasury shares for $48 per share. Prepare the jour...
The Stockholders' Equity section of the balance sheets for Klee Corporation on December 31, 2018, and...
The Stockholders' Equity section of the balance sheets for Klee Corporation on December 31, 2018, and December 31, 2019. along with other selected account balances on the two dates is provided below. (Certain information is missing from the statements.) In 2019, the following transactions affecting equity occurred: a. Additional shares of common stock were issued in April. No other common stock was issued during the year. b. A cash dividend of $1 per share was declared and paid on common...
Vaughn Company reported the following amounts in the stockholders' equity section of its December 31, 2019,...
Vaughn Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 11%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (92,500 shares authorized, 18,500 shares issued) 92,500 Additional paid-in capital 120,000 Retained earnings 413,000 Total $825,500 During 2020, Vaughn took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $11 per share dividend on preferred stock and a $2 per share dividend...
Vaughn Company reported the following amounts in the stockholders' equity section of its December 31, 2019,...
Vaughn Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 11%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (92,500 shares authorized, 18,500 shares issued) 92,500 Additional paid-in capital 120,000 Retained earnings 413,000 Total $825,500 During 2020, Vaughn took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $11 per share dividend on preferred stock and a $2 per share dividend...
The balance sheet of MacMillan Management Consulting, Inc. at
December 31, 2017, reported the followingstockholders'
equity
During 2018, MacMillan completed the following selected
transactions:
1.
Record the transactions in the general journal.
2.
Prepare a retained earnings statement for the year ended
December 31, 2018. Assume MacMillan's net income for the year was
$88,000.
3.
Prepare the stockholders' equity section of the balance sheet
at December31, 2018.
Feb.
6
Declared a 15% stock dividend on common stock. The market value...
Bonita Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 10%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (98,500 shares authorized, 19,700 shares issued) 98,500 Additional paid-in capital 135,000 Retained earnings 479,000 Total $912,500 During 2020, Bonita took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend...
The stockholders' equity section of Apples balance sheet as of December 31, 2018 is as follows: Stockholders' Equity - Preferred Stock, 4% $100 par value, 100,000 shares authorized and 5000 shares issued and outstanding = $500,000 - Common stock, $10 par value; authorized, 2,000,000 shares auth; issued and outstanding 60,000 shares = $600,000 - Paid-in capital in excess of par = $850,000 - Retained earnings = $4,000,000 to The following events occurred during 2019: Jan. 5: 20,000 shares of authorized...
he stockholders' equity section of KMG ple's balance sheet at December 31, 2018, was as follows: (Click the icon to view the balance sheet.) Read the resuirements Requirement a. Prepare the journal entry required on January 9, 2019, fon that date KMG repurchased 75,000 shares of treasury stock for $1,200,000. (Record debits first, then credits Exclude explanation Account i Requirements Requirement b. On March 23, 2019, KMG sold 8,000 of the treasury shares for $48 per share. Prepare the jour...
The Stockholders' Equity section of the balance sheets for Klee Corporation on December 31, 2018, and December 31, 2019. along with other selected account balances on the two dates is provided below. (Certain information is missing from the statements.) In 2019, the following transactions affecting equity occurred: a. Additional shares of common stock were issued in April. No other common stock was issued during the year. b. A cash dividend of $1 per share was declared and paid on common...
Vaughn Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 11%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (92,500 shares authorized, 18,500 shares issued) 92,500 Additional paid-in capital 120,000 Retained earnings 413,000 Total $825,500 During 2020, Vaughn took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $11 per share dividend on preferred stock and a $2 per share dividend...
Vaughn Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 11%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (92,500 shares authorized, 18,500 shares issued) 92,500 Additional paid-in capital 120,000 Retained earnings 413,000 Total $825,500 During 2020, Vaughn took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $11 per share dividend on preferred stock and a $2 per share dividend...
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