Part B :
1:
Date | General Journal | Debit | Credit |
$ | $ | ||
June 30, 2018 | Treasury Stock ( 280,000 x $ 12 ) | 3,360,000 | |
Cash | 3,360,000 | ||
July 31, 2018 | Cash ( 40,000 x $ 15 ) | 600,000 | |
Treasury Stock ( 40,000 x $ 12 ) | 480,000 | ||
Paid-in Capital: Share Repurchase | 120,000 | ||
September 30, 2018 | Cash ( 40,000 x $ 10 ) | 400,000 | |
Paid-in Capital : Share Repurchase | 80,000 | ||
Treasury Stock ( 40,000 x $ 12 ) | 480,000 |
2.
Nicklaus
Corporation Balance Sheet : Shareholders Equity Section September 30, 2018 |
|
Shareholders Equity | |
Preferred Stock | $ 10,000,000 |
Common Stock | 4,000,000 |
Paid-in Capital: Excess of Par | 76,000,000 |
Paid-in Capital : Share Repurchase | 40,000 |
Retained Earnings | 5,300,000 |
95,340,000 | |
Less: Treasury Stock | (2,400,000) |
Total Shareholders Equity | $ 92,940,000 |
Part C :
1:
Date | General Journal | Debit | Credit |
$ | $ | ||
Oct 1, 2018 | Common Stock : $ 1 par value | 4,000,000 | |
Common Stock: $ 0.50 par value | 4,000,000 | ||
Nov 2, 2018 | Retained Earnings | 2,356,000 | |
Dividends Payable : Common Stock ( 4,000,000 - 200,000 ) * 2 x $ 0.21 | 1,596,000 | ||
Dividends Payable: Preferred Stock | 760,000 | ||
Dec 1, 2018 | Dividends Payable: Preferred Stock | 760,000 | |
Dividends Payable: Common Stock | 1,596.000 | ||
Cash | 2,356,000 | ||
Dec 2, 2018 | Retained Earnings ( 7,600,000 shares * 1 % x $ 10 ) | 760,000 | |
Common Stock Dividend Distributable ( 7,600,000 * 1 % * $ 0.50) | 38,000 | ||
Paid-in Capital : Excess of Par | 722,000 | ||
Dec 28, 2018 | Common Stock Dividend Distributable | 38,000 | |
Common Stock | 38,000 |
2.
Nicklaus
Corporation Balance Sheet: Shareholders Equity Section December 31, 2018 Shareholders Equity |
|
Preferred Stock | 10,000,000 |
Common Stock | 4,038,000 |
Paid-in Capital : Excess of Par | 76,722,000 |
Paid-in Capital : Share Repurchase | 40,000 |
Retained Earnings | 5,084,000 |
95,884,000 | |
Treasury Stock | (2,400,000) |
Total Shareholders Equity | $ 93,484,000 |
answer part B and C Part A In late 2017, the Nicklaus Corporation was formed. The...
Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 6,000,000 shares of common stock carrying a $1 par value, and 2,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018, 4,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 2,000,000 shares of preferred stock are issued at $20 per share. Required: 1....
Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 6,000,000 shares of common stock carrying a $1 par value, and 2,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018, 4,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 2.000.000 shares of preferred stock are issued at $25 per share. Required: 1....
answer part C 3 Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 6,000,000 shares of common stock carrying a $1 par value, and 2,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018, 4,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2 all 2,000,000 shares of preferred stock are issued at $25...
Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 6,000,000 shares of common stock carrying a $1 par value, and 2,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018, 4,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 2,000,000 shares of preferred stock are issued at $20 per share. Required: 1....
5 Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 5,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018, 3,000,000 shares of the common stock are issued in exchange for cash at an average price of $15 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $30 per share 15...
Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 5,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018, 3,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $25 per share. Required: 1....
Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 5,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018, 3,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $20 per share. Required: 1....
Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 5,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018, 3,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $30 per share. Required: 1....
Part A In late 2020, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 4,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2021, 2,000,000 shares of the common stock are issued in exchange for cash at an average price of $12 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $30 per share. Required: 1....
craw-Hill Connect HW Ch 18 (Required & For-Credit) Part A In Late 2017. The Nicklaus Corporation Was-1 Chee Fequired & For-Credit) i Help Save & Exit Submit Check my work Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 4.000.000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2 2018, 2,000,000 shares of the common stock are issued...