Homework Answers
| Date | Account title | Debit | Credit |
| Jan-02 | Treasury stock | $ 100,000 | |
| Cash | $ 100,000 | ||
| Jan-07 | Retained earnings | $ 54,000 | |
| Dividend payable | $ 54,000 | ||
| Feb-28 | Dividend payable | $ 54,000 | |
| Cash | $ 54,000 | ||
| Jul-09 | Cash | 48000 | |
| Treasury stock | 40000 | ||
| APIC- Treasury stock | 8000 | ||
| Aug-27 | Cash | 40000 | |
| Retained earnings | 10000 | ||
| Treasury stock | 50000 | ||
| Sep-09 | Retained earnings | 79200 | |
| Dividend payable | 79200 | ||
| Oct-22 | Dividend payable | 79200 | |
| Cash | 79200 | ||
| Statement of retained earnings for year ended Dec 31, 2019 | |
| Particulars | $ |
| Opening balance | $ 375,000 |
| Add Net income of current year | $ 62,000 |
| Less | |
| Dividend on Jan 7 | $ (54,000) |
| Loss on sale of treasury stock | $ (10,000) |
| Dividend on Sept 9 | $ (79,200) |
| Closing retained earnings | $ 293,800 |
| Stockholders equity as on Dec 31, 2019 | |
| Particulars | $ |
| Common stock 39,600 stock @ 25 | $ 990,000 |
| APIC - Common stock | $ 80,000 |
| APIC- Treasury stock | $ 8,000 |
| Retained earnings | $ 293,800 |
| Total stockholders equity | $ 1,371,800 |
For any clarification, please comment. Kindly Up Vote!
Add Answer to:
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 60,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,000,000 80,000 375,000 $1,455,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. 2 Purchased 4,000 shares of...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 50,000 shares authorized, 33,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 825,000 66,000 350,000 $1,241,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,300 shares of its own stock at...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 60,000 shares authorized, 37,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 925,000 74,000 364,000 $1,363,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug Sept. 2 Purchased 3,700 shares...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 50,000 shares authorized, 33,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 825,000 66,000 350,000 $1,241,000 Total stockholders' equity During the year, the following transactions affected its stockholders' equity accounts. 2 Purchased 3,300 shares of its own stock at $25...
Exercise 13-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander...
Exercise 13-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 50,000 shares authorized, Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 750,000 50,000 340,000 $1,140,000 n year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,000 shares of its own stock at $25 cash per share. Jan....
Exercise 13-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander...
Exercise 13-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: 14.32 points e ook Common stock-$25 par value, 50,000 shares authorised, 30,000 shares issued and outstanding Paid-in capital in excess of par valve, conton bok Retained earnings Total stockholders' equity $750,000 50,000 340,000 $1,140,000 Hint Print In year 2017, the following transactions affected its stockholders' equity accounts. References 2 Purchased 3,000 shares...
Problem 11-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler...
Problem 11-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $ 1,100,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 400,000 Total stockholders' equity $ 1,580,000 During 2019, the following transactions affected its stockholders’ equity accounts. Jan. 2 Purchased 5,000 shares of its own stock at...
Problem 13-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3
Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$15 par value, 100,000 shares authorized,40,000 shares issued and outstanding$600,000Paid-in capital in excess of par value, common stock70,000Retained earnings400,000Total stockholders' equity$1,070,000 During 2019, the following transactions affected its stockholders’ equity accounts. Jan.2Purchased 6,000 shares of its own stock at $20 cash per share.Jan.5Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record.Feb.28Paid the dividend declared on January 5.July6Sold 2,250 of...
Problem 13-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler...
Problem 13-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 400,000 Paid-in capital in excess of par value, common stock 60,000 Retained earnings 270,000 Total stockholders' equity $ 730,000 In year 2017, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 4,000 shares of its own stock...
Problem 13-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler...
Problem 13-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 100,000 shares authorized, mon stock-$25 pued and outstanding common stock Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,375.000 70.000 370.000 $1,815,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4,500 shares of its own stoct at...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 60,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,000,000 80,000 375,000 $1,455,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. 2 Purchased 4,000 shares of...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 50,000 shares authorized, 33,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 825,000 66,000 350,000 $1,241,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,300 shares of its own stock at...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 60,000 shares authorized, 37,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 925,000 74,000 364,000 $1,363,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug Sept. 2 Purchased 3,700 shares...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 50,000 shares authorized, 33,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 825,000 66,000 350,000 $1,241,000 Total stockholders' equity During the year, the following transactions affected its stockholders' equity accounts. 2 Purchased 3,300 shares of its own stock at $25...
Exercise 13-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 50,000 shares authorized, Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 750,000 50,000 340,000 $1,140,000 n year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,000 shares of its own stock at $25 cash per share. Jan....
Exercise 13-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: 14.32 points e ook Common stock-$25 par value, 50,000 shares authorised, 30,000 shares issued and outstanding Paid-in capital in excess of par valve, conton bok Retained earnings Total stockholders' equity $750,000 50,000 340,000 $1,140,000 Hint Print In year 2017, the following transactions affected its stockholders' equity accounts. References 2 Purchased 3,000 shares...
Problem 13-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 100,000 shares authorized, mon stock-$25 pued and outstanding common stock Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,375.000 70.000 370.000 $1,815,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4,500 shares of its own stoct at...
Most questions answered within 3 hours.
-
An entomologist discovers a dung beetle rolling a ball of dung
along the ground, and decides...
asked 1 hour ago -
Humans have used horses for transportation for millions of
years. Therefore, they will use horses for...
asked 3 hours ago -
The following are the Jensen Corporation's unit costs of making
and selling an item at a...
asked 3 hours ago -
Does direct Medicare reimbursement of Advanced practice nurses
increase access to their services?
asked 4 hours ago -
List and explain why a company would choose to use a
published
compensation survey vs. creating...
asked 4 hours ago -
A discrete random variable X can take values from 1 to 10. Find
the variance of...
asked 4 hours ago -
The primary financial goal of a corporation is to maximize:
shareholders wealth.
earnings per share.
stock...
asked 4 hours ago -
determine whether the vectors u=(1,2,3,), v=(-2,1,0) and
w=(1,0,1) are linearly dependent or independent.
asked 5 hours ago -
python
Define a function called print_values which takes a dictionary
object as a parameter. The function...
asked 6 hours ago -
In Chapter 1 you created a program named Triangle in
which you displayed a seven-line triangle...
asked 5 hours ago -
Research question: What are the differences between separately
stated and non separately stated transactions in an...
asked 6 hours ago -
By using Arduino write a code that connects two LEDs to two
push-buttons. Each button controls...
asked 7 hours ago