Homework Answers
| Stockholders' Equity | |||
| Contributed Capital: | |||
| Common Stock | 88000 | ||
| Additional paid-in Capital | 1529000 | =88000*(18-1)+11000*(24-21) | |
| Total Contributed Capital | 1617000 | ||
| Retained earnings | 478000 | ||
| Total Contributed Capital and Retained Earnings | 2095000 | ||
| Treasury stock | (273000) | =(24000-11000)*21 | |
| Total Stockholders' Equity | 1822000 |
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United Resources Company obtained a charter from the state in January of this year. The charter...
United Resources Company obtained a charter from the state in January of this year. The charter...
United Resources Company obtained a charter from the state in January of this year. The charter authorized 214,000 shares of common stock with a par value of $2. During the year, the company earned $481,000 Also during the year, the following selected transactions occurred in the order given: a. Sold 89,000 shares of the common stock in an initial public offering at $18 cash per share. b. Repurchased 30,000 shares of the previously issued shares at $21 cash per share....
Tandy Company was issued a charter by the state of Indiana on January 15 of this...
Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the followin Common stock, $6 par value, 115,000 shares authorized Preferred stock, 7 percent, par value $10 per share, 4,900 shares authorized During the year, the following transactions took place in the order presented: a. Sold and issued 21,700 shares of common stock at $20 cash per share. b. Sold and issued 1,300 shares of preferred stock at $24 cash...
Ava School of Learning obtained a charter at the start of the year that authorized 50,000...
Ava School of Learning obtained a charter at the start of the year that authorized 50,000 shares of no-par common stock and 20,000 shares of preferred stock, par value $10. During the year, the following selected transactions Occurred: a. Collected $36 cash per share from four individuals and issued 4,600 shares of common stock to each. issued 5,600 shares of common stock to an outside Investor at S36 cash per share. cIssued 7,600 shares of preferred stock at $24 cash...
Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the...
Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $10 par value, 13,400 shares authorized. During the year, the following selected transactions were completed: a. Sold 6,400 shares of common stock for cash at $20 per share. b. Sold 2,800 shares of common stock for cash at $25 per share. C. At year-end, the accounts reflected income of $6,300. No dividends were declared. 2. Prepare the stockholders' equity section...
2 Tandy Company was issued a charter by the state of Indiana on January 15 of...
2 Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following Preferred stock, 9 percent, par value $6 per share, 5,900 shares authorized During the year, the following transactions took place in the order presented a Sold and issued 21,800 shares of common stock at $12 cash per share. b. Sold and issued 1,100 shares of preferred stock at $16 cash per share. c. At the end of...
North Wind Aviation received its charter during January authorizing the following capital stock: Preferred stock: 8...
North Wind Aviation received its charter during January authorizing the following capital stock: Preferred stock: 8 percent, par $10, authorized 20,000 shares. Common stock: par $i, authorized 50,000 shares. The following transactions occurred during the first year of operations in the order given: a. Issued a total of 39,000 shares of the common stock for $16 per share. b. Issued 12,000 shares of the preferred stock at $17 per share. c. Issued 2,900 shares of the common stock at $21...
Shelby Corporation was organized in January to operate an air-conditioning sales and service business. The charter...
Shelby Corporation was organized in January to operate an air-conditioning sales and service business. The charter issued by the state authorized the following capital stock: Common stock, $1 par value, 200,000 shares. Preferred stock, $10 par value, 6 percent, 50,000 shares. During January and February, the following stock transactions were completed: a Collected $400,000 cash and issued 20,000 shares of common stock. b. Issued 15,000 shares of preferred stock at $30 per share; collected in cash. Net income for the...
Shelby Corporation was organized in January to operate an air-conditioning sales and service business. The charter...
Shelby Corporation was organized in January to operate an air-conditioning sales and service business. The charter issued by the state authorized the following capital stock: Common stock, $1 par value, 200,000 shares. Preferred stock, $10 par value, 6 percent, 50,000 shares. During January and February, the following stock transactions were completed: a. Collected $441,000 cash and issued 21,000 shares of common stock. b. Issued 15,500 shares of preferred stock at $31 per share; collected in cash. Net income for the...
Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the...
Tarrant Corporation was organized this year to operate a
financial consulting business. The charter authorized the following
stock: common stock, par value $13 per share, 12,900 shares
authorized. During the year, the following selected transactions
were completed:
a.
Sold and issued 6,500 shares of common stock for cash at $26
per share.
b.
Sold and issued 1,900 shares of common stock for cash at $31
per share.
c.
At year-end, the accounts reflected income of $8,000. No
dividends were declared....
E11-3 (Algo) Determining the Effects of the issuance of common and Preferred Stock LO11-1, 11-3, 11-7,...
E11-3 (Algo) Determining the Effects of the issuance of common and Preferred Stock LO11-1, 11-3, 11-7, 11-8 Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following: Common stock. $6 par value, 120,000 shares authorized Preferred stock, 6 percent, par value $6 per share, 5.100 shares authorized During the year, the following transactions took place in the order presented: a. Sold and issued 21,100 shares of common stock...
United Resources Company obtained a charter from the state in January of this year. The charter authorized 214,000 shares of common stock with a par value of $2. During the year, the company earned $481,000 Also during the year, the following selected transactions occurred in the order given: a. Sold 89,000 shares of the common stock in an initial public offering at $18 cash per share. b. Repurchased 30,000 shares of the previously issued shares at $21 cash per share....
Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the followin Common stock, $6 par value, 115,000 shares authorized Preferred stock, 7 percent, par value $10 per share, 4,900 shares authorized During the year, the following transactions took place in the order presented: a. Sold and issued 21,700 shares of common stock at $20 cash per share. b. Sold and issued 1,300 shares of preferred stock at $24 cash...
Ava School of Learning obtained a charter at the start of the year that authorized 50,000 shares of no-par common stock and 20,000 shares of preferred stock, par value $10. During the year, the following selected transactions Occurred: a. Collected $36 cash per share from four individuals and issued 4,600 shares of common stock to each. issued 5,600 shares of common stock to an outside Investor at S36 cash per share. cIssued 7,600 shares of preferred stock at $24 cash...
Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $10 par value, 13,400 shares authorized. During the year, the following selected transactions were completed: a. Sold 6,400 shares of common stock for cash at $20 per share. b. Sold 2,800 shares of common stock for cash at $25 per share. C. At year-end, the accounts reflected income of $6,300. No dividends were declared. 2. Prepare the stockholders' equity section...
2 Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following Preferred stock, 9 percent, par value $6 per share, 5,900 shares authorized During the year, the following transactions took place in the order presented a Sold and issued 21,800 shares of common stock at $12 cash per share. b. Sold and issued 1,100 shares of preferred stock at $16 cash per share. c. At the end of...
North Wind Aviation received its charter during January authorizing the following capital stock: Preferred stock: 8 percent, par $10, authorized 20,000 shares. Common stock: par $i, authorized 50,000 shares. The following transactions occurred during the first year of operations in the order given: a. Issued a total of 39,000 shares of the common stock for $16 per share. b. Issued 12,000 shares of the preferred stock at $17 per share. c. Issued 2,900 shares of the common stock at $21...
Shelby Corporation was organized in January to operate an air-conditioning sales and service business. The charter issued by the state authorized the following capital stock: Common stock, $1 par value, 200,000 shares. Preferred stock, $10 par value, 6 percent, 50,000 shares. During January and February, the following stock transactions were completed: a Collected $400,000 cash and issued 20,000 shares of common stock. b. Issued 15,000 shares of preferred stock at $30 per share; collected in cash. Net income for the...
Shelby Corporation was organized in January to operate an air-conditioning sales and service business. The charter issued by the state authorized the following capital stock: Common stock, $1 par value, 200,000 shares. Preferred stock, $10 par value, 6 percent, 50,000 shares. During January and February, the following stock transactions were completed: a. Collected $441,000 cash and issued 21,000 shares of common stock. b. Issued 15,500 shares of preferred stock at $31 per share; collected in cash. Net income for the...
Tarrant Corporation was organized this year to operate a
financial consulting business. The charter authorized the following
stock: common stock, par value $13 per share, 12,900 shares
authorized. During the year, the following selected transactions
were completed:
a.
Sold and issued 6,500 shares of common stock for cash at $26
per share.
b.
Sold and issued 1,900 shares of common stock for cash at $31
per share.
c.
At year-end, the accounts reflected income of $8,000. No
dividends were declared....
E11-3 (Algo) Determining the Effects of the issuance of common and Preferred Stock LO11-1, 11-3, 11-7, 11-8 Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following: Common stock. $6 par value, 120,000 shares authorized Preferred stock, 6 percent, par value $6 per share, 5.100 shares authorized During the year, the following transactions took place in the order presented: a. Sold and issued 21,100 shares of common stock...
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