Homework Answers
Answer:
| Date | Account Title | Debit | Credit |
| 25/1/2019 | Cash | $ 800,000 | |
| Common stock (20,000 × $25) | $ 500,000 | ||
| Paid-in capital in excess of stated value-common stock (20,000 × $15) | 300,000 | ||
| 28/2/2019 | Retained earnings | 900,000 | |
| Dividend payable-Preferred | 800,000 | ||
| Dividend payable-Common ($900,000 - 800,000) | 100,000 | ||
| 28/2/2019 | No Entry | ||
| 15/3/2019 | Dividend payable-Preferred | 800,000 | |
| Dividend payable-Common | 100,000 | ||
| Cash | 900,000 | ||
| 20/5/2019 | Retained earnings (32,000 × $40) | 1,280,000 | |
| Common stock dividend distributable (32,000 × $25) | 800,000 | ||
| Paid-in capital in excess of stated value (32,000 × $15) | 480,000 | ||
| 31/5/2019 | No Entry | ||
| 15/6/2019 | Common stock dividend distributable | 800,000 | |
| Common stock | 800,000 | ||
| 10/7/2019 | Treasury stock (45,000 × $42) | 1,890,000 | |
| Cash | 1,890,000 | ||
| 13/8/2019 | Cash | 576,000 | |
| Treasury stock (12,000 × $42) | 504,000 | ||
| Paid in capital from treasury stock (12,000 × $6) | 72,000 | ||
| 12/11/2019 | Cash | 625,000 | |
| Paid in capital from treasury stock (25,000 × $17) | 425,000 | ||
| Treasury stock (25,000 × $42) | 1,050,000 |
| Working: | |
| Dividend in arrear ($8 × 50,000) | $ 400,000 |
| Dividend for 2019 ($8 × 50,000) | 400,000 |
| Total dividends | 800,000 |
Add Answer to:
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized. 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid-in-Capital from Common Stock $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...
gn Layout References Mailings Review View Help Paid-in Capital 8% Preferred Stock, $100 par value, cumulative,...
gn Layout References Mailings Review View Help Paid-in Capital 8% Preferred Stock, $100 par value, cumulative, 50.0XX) shares anthorized, 30,000 shares issued and outstanding In excess of par on preferred stock Total Paid in Capital from Preferred Stock 3,000,000 3M) CM) $ $ 3,300.00 Common Stock, no par, $25 stated value, 1.000.) shares authorized, 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid in Capital from Common Stock $ 10600...
The Russell Corporation stockholder's equity consisted of the following on 1/1/20: Stockholder's Equity Paid in Capital...
The Russell Corporation stockholder's equity consisted of the following on 1/1/20: Stockholder's Equity Paid in Capital 8% Preferred Stock, $100 par value, cumulative, 50.000 shares authorized, 30,000 shares issued and outstanding $ 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized 400.000 shares issued and outstanding 10,000,000 In excess of stated value on common stock $ 600.000 Total Paid-in-Capital from Common Stock...
Calculator Preferred 24 Stock, $200 par (70,000 shares authorized, 35,000 shares issued) $7,000,000 Pald-In Capital in...
Calculator Preferred 24 Stock, $200 par (70,000 shares authorized, 35,000 shares issued) $7,000,000 Pald-In Capital in Excess of Par-Preferred Stock 340,000 Common Stock, $20 par (500,000 shares authorized, 310,000 shares issued) 6,200,000 Pald-in Capital in Excess of Par-Common Stock 810,000 Retained Earnings 31,482,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common stock at $27, receiving cash. b. Issued 18,000 shares of preferred 2%...
350,000 Kell Corporation Stockholder's Equity 12/31/XX Paid-in-Capital From stock: Preferred Stock, cumulative. 10,000 shares authorized, 7,000...
350,000 Kell Corporation Stockholder's Equity 12/31/XX Paid-in-Capital From stock: Preferred Stock, cumulative. 10,000 shares authorized, 7,000 shares issued $ Common Stock, no par, 50,000 shares authorized, 40,000 shares issued Total Paid-in-Capital from stock $ Additional Paid-in-Capital: In excess of par value - preferred stock S 49,000 In excess of stated value - common stock 240.000 Total Additional Paid-in-Capital s Total Paid-in-Capital S Retained Earnings s Total Paid-in-Capital and Retained Earnings S Less: Treasury Stock - Common (1.000 shares) Total Stockholder's...
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common....
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of tock and 4,600 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 1,700 shares of common stock for $48 per share. May 15 Purchase 460 shares of treasury stock for $41 per share. July 10 Resell 260 shares of treasury stock purchased on May 15 for $46 per share. October...
Stockholders' Equity (December 31, 2016) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and...
Stockholders' Equity (December 31, 2016) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 75,000 410,000 $ 985,000 Stockholders' Equity (December 31, 2017) Common stock-$10 par value, 130,000 shares authorized, 56, 370 shares issued, 4,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($90,000 restricted by treasury stock) $ 563,700 151, 440 740,000 1,455, 140...
Bird Inc. was organized and authorized to issue 5,000 shares of $100 par value, 9% preferred stock and 50,000 shares of...
Bird Inc. was organized and authorized to issue 5,000 shares of $100 par value, 9% preferred stock and 50,000 shares of no par, $5 stated value common stock on July 1, 2017. Stock related transactions for Bird Inc. are as follows: July 1 Issued 10,000 shares of common stock at $11 per share. July 1 Issued 500 shares of common stock at $11 per share for services rendered in connection with the organization of the company. July 2 Issued 1,000...
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding...
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $240,000 200.000 340,000 $780,000 Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47, 400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $284,400 244,400 400,000...
National League Gear has two classes of stock authorized: 5%, $20 par preferred, and $5 par...
National League Gear has two
classes of stock authorized: 5%, $20 par preferred, and $5 par
value common. The following transactions affect stockholders’
equity during 2021, National League’s first year of operations:
February
2
Issue 1.5 million shares of common stock for $30 per
share.
February
4
Issue 550,000 shares of preferred stock for $24 per share.
June
15
Purchase 150,000 shares of its own common stock for $25 per
share.
August
15
Resell 112,500 shares of treasury stock for...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized. 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid-in-Capital from Common Stock $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...
gn Layout References Mailings Review View Help Paid-in Capital 8% Preferred Stock, $100 par value, cumulative, 50.0XX) shares anthorized, 30,000 shares issued and outstanding In excess of par on preferred stock Total Paid in Capital from Preferred Stock 3,000,000 3M) CM) $ $ 3,300.00 Common Stock, no par, $25 stated value, 1.000.) shares authorized, 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid in Capital from Common Stock $ 10600...
The Russell Corporation stockholder's equity consisted of the following on 1/1/20: Stockholder's Equity Paid in Capital 8% Preferred Stock, $100 par value, cumulative, 50.000 shares authorized, 30,000 shares issued and outstanding $ 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized 400.000 shares issued and outstanding 10,000,000 In excess of stated value on common stock $ 600.000 Total Paid-in-Capital from Common Stock...
Calculator Preferred 24 Stock, $200 par (70,000 shares authorized, 35,000 shares issued) $7,000,000 Pald-In Capital in Excess of Par-Preferred Stock 340,000 Common Stock, $20 par (500,000 shares authorized, 310,000 shares issued) 6,200,000 Pald-in Capital in Excess of Par-Common Stock 810,000 Retained Earnings 31,482,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common stock at $27, receiving cash. b. Issued 18,000 shares of preferred 2%...
350,000 Kell Corporation Stockholder's Equity 12/31/XX Paid-in-Capital From stock: Preferred Stock, cumulative. 10,000 shares authorized, 7,000 shares issued $ Common Stock, no par, 50,000 shares authorized, 40,000 shares issued Total Paid-in-Capital from stock $ Additional Paid-in-Capital: In excess of par value - preferred stock S 49,000 In excess of stated value - common stock 240.000 Total Additional Paid-in-Capital s Total Paid-in-Capital S Retained Earnings s Total Paid-in-Capital and Retained Earnings S Less: Treasury Stock - Common (1.000 shares) Total Stockholder's...
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of tock and 4,600 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 1,700 shares of common stock for $48 per share. May 15 Purchase 460 shares of treasury stock for $41 per share. July 10 Resell 260 shares of treasury stock purchased on May 15 for $46 per share. October...
Stockholders' Equity (December 31, 2016) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 75,000 410,000 $ 985,000 Stockholders' Equity (December 31, 2017) Common stock-$10 par value, 130,000 shares authorized, 56, 370 shares issued, 4,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($90,000 restricted by treasury stock) $ 563,700 151, 440 740,000 1,455, 140...
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $240,000 200.000 340,000 $780,000 Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47, 400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $284,400 244,400 400,000...
National League Gear has two
classes of stock authorized: 5%, $20 par preferred, and $5 par
value common. The following transactions affect stockholders’
equity during 2021, National League’s first year of operations:
February
2
Issue 1.5 million shares of common stock for $30 per
share.
February
4
Issue 550,000 shares of preferred stock for $24 per share.
June
15
Purchase 150,000 shares of its own common stock for $25 per
share.
August
15
Resell 112,500 shares of treasury stock for...
Most questions answered within 3 hours.
-
(63
#14)
which of the following statments best describes how chamging
the concentration of the substances...
asked 10 minutes ago -
In the following reaction, which element is undergoing
oxidation: Na2SO3 + N2O --> N2 + Na2SO4...
asked 1 hour ago -
Which of the following pairs of ions have the same electron
configuration?
I: Br− and Se2−...
asked 3 hours ago -
The Foremost Composite Materials Company is planning a two-day
sales conference for October 19-20. The conference...
asked 3 hours ago -
3) Illustrate the observed pattern of relatedness of organisms
versus adaptations to specific conditions. This means...
asked 4 hours ago -
In winter a lake has a 0.35 m thick ice layer over 1.10 m of
water....
asked 5 hours ago -
Assuming the following has been encrypted with a Vigenere cipher
below, use the method(s) and assumptions...
asked 5 hours ago -
How would I use switch statements to write a program that will
take an input of...
asked 5 hours ago -
Imagine a reaction in which methane gas combusts at a constant
pressure of 1 atm and...
asked 5 hours ago -
Two parallel wires (each 12 m in length) are separated by a
distance of 0.065 m...
asked 5 hours ago -
Suppose there were three masses at the corner of uniform
equilateral triangle. The masses are m1...
asked 5 hours ago -
Situation: A building that is 618 m above the ground floor. How
many times would a...
asked 5 hours ago