3. The stockholders’ equity of Rayborn Corporation at January 1 of the current year appears below...
3. The stockholders’ equity of Rayborn Corporation at January 1 of the current year appears below
Common Stock, $5 Par Value, 400,000 shares authorized;
160,000 shares issued and outstanding $800,000
Premium on Common Stock 920,000
Retained Earnings 513,000
During the year, the following transactions occurred:
June 7 Declared a 10% stock dividend; market value of the common stock was $10 per share.
- Issued the stock dividend declared on June 7.
Dec 5 Declared a cash dividend of $1.25 per share.
- Paid the cash dividend declared on December 5.
- Closed the net income of $412,000 from the Income Summary account to Retained Earnings.
REQUIRED:
- Prepare general journal entries to record the foregoing transactions.
- Prepare a Statement of Retained Earnings
Homework Answers
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3. The stockholders’ equity of
Rayborn Corporation at January 1 of the current year appears
below...
Retained Earnings: Transactions and Statement The stockholders’ equity accounts of Rayburn Corporation as of January 1...
Retained Earnings: Transactions and Statement The stockholders’ equity accounts of Rayburn Corporation as of January 1 appear below: Common stock, $5 par value, 400,000 shares authorized; 160,000 shares issued and outstanding $800,000 Paid-in capital in excess of par value 920,000 Retained earnings 513,000 During the year, the following transactions occurred: June 7 Declared a 10 percent stock dividend; market value of the common stock was $11 per share. June 28 Issued the stock dividend declared on June 7. Dec. 5...
Retained Earnings: Transactions and Statement The stockholders’ equity of Ranger Corporation at January 1 appears below:...
Retained Earnings: Transactions and
Statement
The stockholders’ equity of Ranger Corporation at January 1
appears below:
Common stock, $10 par value, 200,000 shares authorized;
80,000 shares issued and outstanding
$800,000
Paid-in capital in excess of par value
480,000
Retained earnings
305,000
During the year, the following transactions occurred:
May
12
Declared a 15 percent stock dividend; market value of the
common stock was $22 per share.
June
6
Issued the stock dividend declared on May 12.
Dec.
5
Declared a...
Prepare the journal entries for the transactions affecting stockholders' equity that occurred during 2018. Do not...
Prepare the journal entries for the transactions affecting stockholders' equity that occurred during 2018. Do not prepare the journal entry for closing net income to retained earnings. Assume that any share transactions were for cash. PII-6A. Retained Earnings: Transactions and Statement The stockholders' equity accounts of Raymund Corporation as of January 1 appear below; LO7, 8 MBC Common stock, $1 par value, 400,000 shares authorized; 160,000 shares issued and outstanding Paid-in capital in excess of par value Retained earnings $160,000...
P11-10A. Stockholders' Equity: Transactions and Statement The stockholders' equity section of Corporation's balance sheet at January...
P11-10A. Stockholders' Equity: Transactions and Statement The stockholders' equity section of Corporation's balance sheet at January 1 follows: $ 300,000 Common stock, $5 par value, 300,000 shares authorized, 60,000 shares Issued, 6,000 shares in treasury.. Additional paid-in capital. ... In excess of par value.... From treasury stock ... Retained earnings .. $480,000 30,000 510,000 348,000 1,158,000 138,000 $1,020,000 Less: Treasury stock (6,000 shares) at cost..... The following transactions affecting stockholders' equity occurred during the year: Jan. 8 Mar. 12 June...
PLEASE ANSWER IMMEDIATELY!! I ONLY HAVE 1 HOUR T1a8 destI Retained Earnings: Transactions and Statement The...
PLEASE ANSWER IMMEDIATELY!! I ONLY HAVE 1 HOUR
T1a8 destI Retained Earnings: Transactions and Statement The stockholders' equity accounts of Rayburn Corporation as of January 1 appear below Common stock, $7 par value, 400,000 shares authorized; 1,260,000 920,000 513,000 180,000 shares issued and outstanding Paid-in capital in excess of par value Retained earnings During the year, the following transactions occurred: Declared a 10 percent stock dividend; market value of the common stock was $13 per share. June 28 Issued the...
The stockholders' equity section of Thomas Corporation's balance sheet at December 31, 2018, appears below: ...
The stockholders' equity section of Thomas Corporation's balance sheet at December 31, 2018, appears below: Preferred Stock, 6%, $15 stated value, 50,000 shares authorized; 10,000 issued and outstanding 150,000 Paid-in capital in excess of stated value-preferred stock 30,000 Common stock, $10 par value, 400,000 shares authorized; 250,000 issued and outstanding 2,500,000 Paid-in capital in excess of par value-common stock 1,200,000 Retained earnings 600,000 During 2019, the following stock transactions...
The stockholders' equity section of Thomas Corporation's balance sheet at December 31, 2018, appears below: Preferred...
The stockholders' equity section of Thomas Corporation's balance sheet at December 31, 2018, appears below: Preferred Stock, 6%, $15 stated value, 50,000 shares authorized; 10,000 issued and outstanding Paid-in capital in excess of stated value-preferred stock Common stock, $10 par value, 400,000 shares authorized; 250,000 issued and outstanding 150,000 30.000 2,500,000 Paid-in capital in excess of par value-common stock Retained earnings 1,200,000 600,000 During 2019, the following stock transactions occurred: Jan. 18 Issued 5,000 shares of common stock at $30...
Stockholders' Equity: Transactions and Statement The stockholders' equity section of Night Corporation's balance sheet at January...
Stockholders' Equity: Transactions and Statement The stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $10 par value, 300,000 shares authorized, 60,000 shares 600,000 issued, 6,000 shares in treasury Additional paid-in capital In excess of par value 960,000 From treasury stock 60,000 1,020,000 Retained earnings 696,000 2,316,000 Less: Treasury stock (6,000 shares) at cost 276,000 Total Stockholdersâ€TM Equity 2,040,000 The following transactions affecting stockholdersâ€TM equity occurred during the year: Jan. 8 Issued 15,000 shares of...
Retained Earnings: Transactions and Statement The stockholders’ equity of Elsworth Corporation at January 1 is shown...
Retained Earnings: Transactions and Statement The stockholders’ equity of Elsworth Corporation at January 1 is shown below: 5 Percent preferred stock, $100 par value, 10,000 shares authorized; 4,000 shares issued and outstanding $400,000 Common stock, $5 par value, 200,000 shares authorized; 50,000 shares issued and outstanding $250,000 Paid-in capital in excess of par value—Preferred stock 40,000 Paid-in capital in excess of par value—Common stock 300,000 Retained earnings 656,000 Total Stockholders’ Equity $1,646,000 The following transactions, among others, occurred during the...
Corporation reported stockholders' equity on Dec 31 of the prior year as follows: Common stock, $5...
Corporation reported stockholders' equity on Dec 31 of the prior year as follows: Common stock, $5 par value, 1,000,000 shares $2,500,000 authorized, 500,000 shares issued ----- 2,5000,000 Paid-in capital in excess of par, common stock ----1,000,000 Retained earnings-------3,000,000 The following selected transactions occurred during the current year: Feb. 15 The board of directors declared a 7% stock dividend to stockholders of record on March 1, payable March 20. The stock was selling for $8 per share. Mar. 9 Distributed the...
Retained Earnings: Transactions and
Statement
The stockholders’ equity of Ranger Corporation at January 1
appears below:
Common stock, $10 par value, 200,000 shares authorized;
80,000 shares issued and outstanding
$800,000
Paid-in capital in excess of par value
480,000
Retained earnings
305,000
During the year, the following transactions occurred:
May
12
Declared a 15 percent stock dividend; market value of the
common stock was $22 per share.
June
6
Issued the stock dividend declared on May 12.
Dec.
5
Declared a...
Prepare the journal entries for the transactions affecting stockholders' equity that occurred during 2018. Do not prepare the journal entry for closing net income to retained earnings. Assume that any share transactions were for cash. PII-6A. Retained Earnings: Transactions and Statement The stockholders' equity accounts of Raymund Corporation as of January 1 appear below; LO7, 8 MBC Common stock, $1 par value, 400,000 shares authorized; 160,000 shares issued and outstanding Paid-in capital in excess of par value Retained earnings $160,000...
P11-10A. Stockholders' Equity: Transactions and Statement The stockholders' equity section of Corporation's balance sheet at January 1 follows: $ 300,000 Common stock, $5 par value, 300,000 shares authorized, 60,000 shares Issued, 6,000 shares in treasury.. Additional paid-in capital. ... In excess of par value.... From treasury stock ... Retained earnings .. $480,000 30,000 510,000 348,000 1,158,000 138,000 $1,020,000 Less: Treasury stock (6,000 shares) at cost..... The following transactions affecting stockholders' equity occurred during the year: Jan. 8 Mar. 12 June...
PLEASE ANSWER IMMEDIATELY!! I ONLY HAVE 1 HOUR
T1a8 destI Retained Earnings: Transactions and Statement The stockholders' equity accounts of Rayburn Corporation as of January 1 appear below Common stock, $7 par value, 400,000 shares authorized; 1,260,000 920,000 513,000 180,000 shares issued and outstanding Paid-in capital in excess of par value Retained earnings During the year, the following transactions occurred: Declared a 10 percent stock dividend; market value of the common stock was $13 per share. June 28 Issued the...
The stockholders' equity section of Thomas Corporation's balance sheet at December 31, 2018, appears below: Preferred Stock, 6%, $15 stated value, 50,000 shares authorized; 10,000 issued and outstanding Paid-in capital in excess of stated value-preferred stock Common stock, $10 par value, 400,000 shares authorized; 250,000 issued and outstanding 150,000 30.000 2,500,000 Paid-in capital in excess of par value-common stock Retained earnings 1,200,000 600,000 During 2019, the following stock transactions occurred: Jan. 18 Issued 5,000 shares of common stock at $30...
Stockholders' Equity: Transactions and Statement The stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $10 par value, 300,000 shares authorized, 60,000 shares 600,000 issued, 6,000 shares in treasury Additional paid-in capital In excess of par value 960,000 From treasury stock 60,000 1,020,000 Retained earnings 696,000 2,316,000 Less: Treasury stock (6,000 shares) at cost 276,000 Total Stockholdersâ€TM Equity 2,040,000 The following transactions affecting stockholdersâ€TM equity occurred during the year: Jan. 8 Issued 15,000 shares of...
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