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Problem 2: Selected balances for Cole Company are as follows: 2017 2016 Long-Term N/P Common Stock...
Problem 1: Selected balances for Tyner Company are as follows: 2017 2016 Equipment Accumulated Dep 100,000...
Problem 1: Selected balances for Tyner Company are as follows: 2017 2016 Equipment Accumulated Dep 100,000 (30,000) (10,000) 40,000 A. Tyner sold equipment that originally cost $50,000 at a gain of $4000 B. Depreciation expense for the year was $60,000. C. Tyner had an equipment purchase for cash during the year. Prepare the Investing section of the cash flow statement for Tyner.
E14-10 following balances at December 31, 2016: common stock $500,000, paid-in capital in excess of par...
E14-10
following balances at December 31, 2016: common stock $500,000, paid-in capital in excess of par value-common stock $100,000, and retained earnings $250,000. During 2017, the following transactions affected stockholders' equity 1. Issued preferred stock with a par value of $125,000 for $200,000. 2. Purchased treasury stock (common) for $40,000. 3. Earned net income of $180,000. 4. Declared and paid cash dividends of $56,000. section. (LO 3) Instructions Prepare the stockholders' equity section of Dirk Companys December 31, 2017, balance...
Exercise 11-21 Dirk Company reported the following balances at December 31, 2016: common stock $391,000, paid-in...
Exercise 11-21 Dirk Company reported the following balances at December 31, 2016: common stock $391,000, paid-in capital in excess of par value—common stock $109,000, and retained earnings $242,000. During 2017, the following transactions affected stockholders' equity. 1. Issued preferred stock with a par value of $122,000 for $204,000. 2. Purchased treasury stock (common) for $39,000. 3. Earned net income of $143,500. 4. Declared and paid cash dividends of $51,000. Prepare the stockholders’ equity section of Dirk Company’s December 31, 2017,...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as follows: Year 1 Year 2 Assets Cash $ 100,000 $ (50,000 ) Accounts receivable (net) 50,000 100,000 Inventory 100,000 250,000 Equipment (net) 300,000 350,000 Total assets $ 550,000 $ 650,000 Liabilities and Equity Accounts payable $ 150,000 100,000 Income taxes payable 80,000 30,000 Bonds payable 100,000 80,000 Common stock 100,000 200,000 Retained earnings 120,000 240,000 Total liabilities and Equity $ 550,000 $ 650,000 Using...
The Castillo Company reported operating profits of $60,000, Depreciation expenses of $40,000, Interest expense of $10,000...
The Castillo Company reported operating profits of $60,000, Depreciation expenses of $40,000, Interest expense of $10,000 and paid $10,000 in taxes in 2017. Following are the Company’s balance sheets for 2016 and 2017. C&B CASTILLO COMPANY 2016 2017 Cash $50,000 $5,000 Accounts Receivables 200,000 300,000 Inventories 400,000 480,000 Total Current Assets 650,000 785,000 Gross Fixed Assets 450,000 570,000 Accumulated Depreciation -100,000 -140,000 Net Fixed Assets ...
P11-3A On December 31, 2016, Jons Company had 1,300,000 shares of $5 par common Prepare a stockhol stock issued and outstanding. At December 31,2016, stockholders' equity had the amounts secr...
P11-3A On December 31, 2016, Jons Company had 1,300,000 shares of $5 par common Prepare a stockhol stock issued and outstanding. At December 31,2016, stockholders' equity had the amounts secrion listed here. (10 2,3,4AP Common Stock Additional Paid-in Capital Retained Earnings $6,500,000 1,800,000 1,200,000 Transactions during 2017 and other information related to stockholders' equity accounts were as follows. 1. On January 10, 2017, issued at S107 per share l 20,000 shares of si 00 par value,% cumulative preferred stock. 2....
2. In August of 2016 a company issued subscribed stock and recorded the following journal entry:...
2. In August of 2016 a company issued subscribed stock and recorded the following journal entry: Cash (1,000 shares x $104 x.10) Subscriptions receivable $10,400 $93,600 Preferred Stock Subscribed Additional Paid in Capital-PS $100,000 $4,000 Full pay ment was made for the subscribed stock on November 1. Prepare the November 1, 2016 journal entry. 3. The shareholders' equity of a company is as shown Common stock, $10 par APIC-CS Retained Earnings Total Shareholders' Equity $200,000 $100,000 $150,000 $450,000
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as follows: Year 1 Year 2 Assets Cash $ 100,000 $ (50,000 ) Accounts receivable (net) 50,000 100,000 Inventory 100,000 250,000 Equipment (net) 300,000 350,000 Total assets $ 550,000 $ 650,000 Liabilities and Equity Accounts payable $ 150,000 100,000 Income taxes payable 80,000 30,000 Bonds payable 100,000 80,000 Common stock 100,000 200,000 Retained earnings 120,000 240,000 Total liabilities and Equity $ 550,000 $ 650,000 The...
P14-2A The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows. Preferred...
P14-2A The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows. Preferred Stock, 6%, $50 par $600,000 Common Stock, $5 par 800,000 Paid-in Capital in Excess of Par-Preferred Stock 200,000 Paid-in Capital in Excess of Par—Common Stock 300,000 Retained Earnings 800,000 There were no dividends in arrears on preferred stock. During 2017, the company had the following transactions and events. July 1 Declared a $0.60 cash dividend per share on common stock. Aug. 1 Discovered $25,000...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as follows: Year 1 Year 2 Assets Cash $ 100,000 $ (50,000 ) Accounts receivable (net) 50,000 100,000 Inventory 100,000 250,000 Equipment (net) 300,000 350,000 Total assets $ 550,000 $ 650,000 Liabilities and Equity Accounts payable $ 150,000 100,000 Income taxes payable 80,000 30,000 Bonds payable 100,000 80,000 Common stock 100,000 200,000 Retained earnings 120,000 240,000 Total liabilities and Equity $ 550,000 $ 650,000 The...
Problem 1: Selected balances for Tyner Company are as follows: 2017 2016 Equipment Accumulated Dep 100,000 (30,000) (10,000) 40,000 A. Tyner sold equipment that originally cost $50,000 at a gain of $4000 B. Depreciation expense for the year was $60,000. C. Tyner had an equipment purchase for cash during the year. Prepare the Investing section of the cash flow statement for Tyner.
E14-10
following balances at December 31, 2016: common stock $500,000, paid-in capital in excess of par value-common stock $100,000, and retained earnings $250,000. During 2017, the following transactions affected stockholders' equity 1. Issued preferred stock with a par value of $125,000 for $200,000. 2. Purchased treasury stock (common) for $40,000. 3. Earned net income of $180,000. 4. Declared and paid cash dividends of $56,000. section. (LO 3) Instructions Prepare the stockholders' equity section of Dirk Companys December 31, 2017, balance...
P11-3A On December 31, 2016, Jons Company had 1,300,000 shares of $5 par common Prepare a stockhol stock issued and outstanding. At December 31,2016, stockholders' equity had the amounts secrion listed here. (10 2,3,4AP Common Stock Additional Paid-in Capital Retained Earnings $6,500,000 1,800,000 1,200,000 Transactions during 2017 and other information related to stockholders' equity accounts were as follows. 1. On January 10, 2017, issued at S107 per share l 20,000 shares of si 00 par value,% cumulative preferred stock. 2....
2. In August of 2016 a company issued subscribed stock and recorded the following journal entry: Cash (1,000 shares x $104 x.10) Subscriptions receivable $10,400 $93,600 Preferred Stock Subscribed Additional Paid in Capital-PS $100,000 $4,000 Full pay ment was made for the subscribed stock on November 1. Prepare the November 1, 2016 journal entry. 3. The shareholders' equity of a company is as shown Common stock, $10 par APIC-CS Retained Earnings Total Shareholders' Equity $200,000 $100,000 $150,000 $450,000
P14-2A The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows. Preferred Stock, 6%, $50 par $600,000 Common Stock, $5 par 800,000 Paid-in Capital in Excess of Par-Preferred Stock 200,000 Paid-in Capital in Excess of Par—Common Stock 300,000 Retained Earnings 800,000 There were no dividends in arrears on preferred stock. During 2017, the company had the following transactions and events. July 1 Declared a $0.60 cash dividend per share on common stock. Aug. 1 Discovered $25,000...
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