As of December 31, 2018, Warner Corporation reported the following: Dividends payable $ 23,000 Treasury stock...
As of December 31, 2018, Warner Corporation reported the following:
Dividends payable $ 23,000
Treasury stock 630,000
Paid-in capital—share repurchase 23,000
Other paid-in capital accounts 4,300,000
Retained earnings 3,300,000
During 2019, half of the treasury stock was resold for $270,000; net income was $630,000; cash dividends declared were $1,470,000; and stock dividends declared were $530,000. What would shareholders' equity be as of December 31, 2019?
** I can't decide if I need to include "Paid-In Capital - Share repurchase" in my answer
Homework Answers
| Paid in capital - Share repurchase | 23,000 |
| Other paid in capital accounts | 4,300,000 |
| Retained earnings | 3,300,000 |
| - Treasury stock | -630,000 |
| Total stockholders equity | 6,993,000 |
Add Answer to:
As of December 31, 2018, Warner Corporation reported the
following:
Dividends payable $ 23,000
Treasury stock...
As of December 31, 2018, Warner Corporation reported the following: Dividends payable $ 25,000 Treasury...
As of December 31, 2018, Warner Corporation reported the following: Dividends payable $ 25,000 Treasury stock 650,000 Paid-in capital—share repurchase 25,000 Other paid-in capital accounts 4,500,000 Retained earnings 3,500,000 During 2019, half of the treasury stock was resold for $250,000; net income was $650,000; cash dividends declared were $1,550,000; and stock dividends declared were $550,000. The 2019 sale of half of the treasury stock would:
Help Save & Exit Submit As of December 31, 2018, Warner Corporation reported the following Dividends...
Help Save & Exit Submit As of December 31, 2018, Warner Corporation reported the following Dividends payable Treasury stock Paid-in capital-share repurchase other paid-in capital accounts Retained earnings $ 31,000 710,000 31,000 5,100,000 4,100,000 During 2019. half of the treasury stock was resold for $262.000, net income was $710,000, cash dividends declared were $1610,000, and stock dividends declared were $610,000 What would shareholders' equity be as of December 31, 2019? Multiple Choice $7.976,000 $8,883,000 o $7,883,000 O 55710,000 $570,000
Returning to Warner Corporation from the previous problem: As of December 31, 2018, Warner Corporation reported...
Returning to Warner Corporation from the previous problem: As of December 31, 2018, Warner Corporation reported the following: Dividends Payable: $20,000 Treasury Stock: $600,000 Paid-in-Capital, Common Stock: $20,000 Paid-in-Capital, Other Shares: $4,000,000 Retained Earnings: $3,000,000 Now, assume Warner Corp performed the following transactions in 2019: Half of the treasury stock was resold for $240,000; net income was $600,000; cash dividends declared were $1,500,000; stock dividends declared were $500,000. (Assume that the Treasury Shares were resold as Common Shares) What would...
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Yellow Enterprises reported the following ($ in 000s) as of December 31, 2018. All accounts have...
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Yellow Enterprises reported the following ($ in 000s) as of December 31, 2018. All accounts have ...
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Comprehensive Dakota Corporation had the following shareholders' equity account balances at December 31, 2018: Preferred stock $1,800,000 Additional paid-in capital on preferred stock 90,000 Common stock 5,150,000 Additional paid-in capital on common stock 3,500,000 Retained earnings 4,000,000 Unrealized decrease in value of marketable equity securities 245,000 Treasury common stock 270,000 Transactions during 2019 and other information relating to the shareholders' equity accounts were as follows: 1. Dakota's preferred and common shares are traded on the over-the-counter market. At December 31,...
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STEINER CORPORATION Partial Balance Sheet December 31, 2018 Stockholders’ equity 8% Preferred stock, $100 par value,...
STEINER CORPORATION Partial Balance Sheet December 31, 2018 Stockholders’ equity 8% Preferred stock, $100 par value, cumulative, 5,000 shares issued ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$500,000 In excess of par value— preferred stock ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $280,000 Common stock, $5 par value, 440,000 shares issued ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$2,200,000 In excess of par value—common stock ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $800,000 Total paid-in capital ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $3,780,000 Retained earnings ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $1,334,000 Total paid-in capital and retained earnings ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$5,114,000 Less: Treasury stock (10,000 common shares) ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ($120,000) Total stockholders’ equity ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $4,994,000 On December 1, 2018, the...
Help Save & Exit Submit As of December 31, 2018, Warner Corporation reported the following Dividends payable Treasury stock Paid-in capital-share repurchase other paid-in capital accounts Retained earnings $ 31,000 710,000 31,000 5,100,000 4,100,000 During 2019. half of the treasury stock was resold for $262.000, net income was $710,000, cash dividends declared were $1610,000, and stock dividends declared were $610,000 What would shareholders' equity be as of December 31, 2019? Multiple Choice $7.976,000 $8,883,000 o $7,883,000 O 55710,000 $570,000
Yellow Enterprises reported the following ($ in 000s) as of December 31, 2018. All accounts have normal balances. $ 2,900 Deficit (debit balance in retained earnings) Common stock 2,600 Paid-in capital-treasury stock 2,500 Treasury stock at cost 390 Paid-in capital-excess of par 31,100 During 2019 ($ in 000s), net income was $9,100; 25 % of the treasury stock was resold for $480; cash dividends declared were $770; cash dividends paid were $470. What ($ in 000s) was shareholders' equity as...
Comprehensive Dakota Corporation had the following shareholders' equity account balances at December 31, 2018: Preferred stock $1,800,000 Additional paid-in capital on preferred stock 90,000 Common stock 5,150,000 Additional paid-in capital on common stock 3,500,000 Retained earnings 4,000,000 Unrealized decrease in value of marketable equity securities 245,000 Treasury common stock 270,000 Transactions during 2019 and other information relating to the shareholders' equity accounts were as follows: 1. Dakota's preferred and common shares are traded on the over-the-counter market. At December 31,...
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