Homework Answers
Answer:
| Answer a | |||
| Retained earnings available for common stockholders as on December 31,2014 | |||
| Net Income for 2020 | $800000 | ||
| Net Loss for 2018 | -$260000 | ||
| Net Loss for 2019 | -$40000 | ||
| Preferred stock holders dividend paid for 2018,2019 & 2020 | -$120,000 | ||
| Retained earnings available for Comon stockholders | $380000 | ||
| Book value of common stock as on December 31,2014 | |||
| Common stock, par value | $750000 | ||
| Retained earnings available for Comon stockholders | $380000 | ||
| Book value of common stock as on December 31,2014 | $1130000 | ||
| No.of common stock shares outstanding | 750000 | ||
| Book value of per common stock share | $1.51 | ||
| Answer b | |||
| Retained earnings available for common stockholders as on December 31,2020 | |||
| Net Income for 2020 | $800000 | ||
| Net Loss for 2018 | -$260000 | ||
| Net Loss for 2019 | -$40000 | ||
| Preferred stock holders dividend paid for 2018,2019 & 20208 | -$120000 | ||
| Preferred stock liquidating value in excess of par | -$40000 | ||
| Retained earnings available for Comon stockholders | $340000 | ||
| Book value of common stock as on December 31,2014 | |||
| Common stock, par value | $750000 | ||
| Retained earnings available for Comon stockholders | $340000 | ||
| Book value of common stock as on December 31,2014 | $1090000 | ||
| No.of common stock shares outstanding | 750000 | ||
| Book value of per common stock share | $1.45 | ||
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x Your answer is incorrect. Try again. Morgan Sondgeroth Inc. began operations in January 2018 and...
Exercise 15-24 Morgan Sondgeroth Inc. began operations in January 2018 and reported the following results for...
Exercise 15-24 Morgan Sondgeroth Inc. began operations in January 2018 and reported the following results for each of its 3 years of operations. 2018 $260,000 net loss 2019 $40,000 net loss 2020 $800,000 net income At December 31, 2020, Morgan Sondgeroth Inc. capital accounts were as follows. $500,000 8% cumulative preferred stock, par value $100; authorized, issued, and outstanding 5,000 shares Common stock, par value $1.00; authorized 1,000,000 shares; issued and outstanding 750,000 shares $750,000 Morgan Sondgeroth Inc. has never...
Exercise 15-24 Morgan Sondgeroth Inc. began operations in January 2018 and reported the following results for...
Exercise 15-24 Morgan Sondgeroth Inc. began operations in January 2018 and reported the following results for each of its 3 years of operations. 2018 $260,000 net loss 2019 $40,000 net loss 2020 $800,000 net income At December 31, 2020, Morgan Sondgeroth Inc. capital accounts were as follows. $500,000 8% cumulative preferred stock, par value $100; authorized, issued, and outstanding 5,000 shares Common stock, par value $1.00; authorized 1,000,000 shares; issued and outstanding 750,000 shares $750,000 Morgan Sondgeroth Inc. has never...
Your answer is incorrect. Try again Bonita Inc. began operations in January 2018 and reported the...
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Martinez Inc. began operations in January 2018 and reported the following results for each of its...
Martinez Inc. began operations in January 2018 and reported the
following results for each of its 3 years of operations.
2018
$268,000 net loss
2019
$38,000 net loss
2020
$775,000 net income
At December 31, 2020, Martinez Inc. capital accounts were as
follows.
8% cumulative preferred stock, par value $100; authorized,
issued,
and outstanding 4,500 shares
$450,000
Common stock, par value $1.00; authorized 1,000,000
shares;
issued and outstanding 741,000
shares
$741,000
Martinez Inc. has never paid a cash or stock...
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Vaughn Inc. began operations in January 2018 and reported the following results for each of its...
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Concord Inc. began operations in January 2018 and reported the following results for each of its...
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Sweet Inc. began operations in January 2018 and reported the following results for each of its 3 years of operations. 2018 $242,000 net loss 2019 $40,000 net loss 2020 $875,000 net income At December 31, 2020, Sweet Inc. capital accounts were as follows. $480,000 7% cumulative preferred stock, par value $100; authorized, issued, and outstanding 4,800 shares Common stock, par value $1.00; authorized 1,000,000 shares; issued and outstanding 729,000 shares $729,000 Sweet Inc. has never paid a cash or stock...
Martinez Inc. began operations in January 2018 and reported the
following results for each of its 3 years of operations.
2018
$268,000 net loss
2019
$38,000 net loss
2020
$775,000 net income
At December 31, 2020, Martinez Inc. capital accounts were as
follows.
8% cumulative preferred stock, par value $100; authorized,
issued,
and outstanding 4,500 shares
$450,000
Common stock, par value $1.00; authorized 1,000,000
shares;
issued and outstanding 741,000
shares
$741,000
Martinez Inc. has never paid a cash or stock...
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