transaction | total assets | total liabilities | total stockholders' equity | |||||||
issue preferred stock | + | + | cash (asset) is received and preference share capital (equity) is increased | |||||||
Purchase treasury stock | - | - | cash (asset) is paid and share capital (equity) is reduced | |||||||
sale of treasury stock | + | + | cash (asset) is received and share capital (equity) is increased |
Select whether each of the following transactions increases (it) or decreases lies and total stockholders' equity....
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 440 shares of preferred stock and 5,400 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 2,500 shares of common stock for $56 per share. May 15 Purchase 540 shares of treasury stock for $49 per share. July 10 Resell 340 shares of treasury stock purchased on May 15...
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 370 shares of preferred stock and 4,700 shares of common stock have been issued. The following transactions affect stockholders’ equity during 2021: March 1 Issue 1,800 shares of common stock for $49 per share. May 15 Purchase 470 shares of treasury stock for $42 per share. July 10 Resell 270 shares of treasury stock purchased on May 15...
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2018, 330 shares of preferred stock and 4,300 shares of common stock have been issued. The following transactions affect stockholders’ equity during 2018: March 1 Issues 1,400 shares of common stock for $45 per share. May 15 Purchase 430 shares of treasury stock for $38 per share. July 10 Reissues 230 shares of treasury stock purchased on May 15...
Required information Problem 10-6A Record equity transactions and prepare the stockholders' equity section (LO10-2, 10-3, 10- 4, 10-5, 10-7) (The following information applies to the questions displayed below.) Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issue 110,000 shares of common stock for $67 per share. February 14 Issue 57,000 shares of preferred stock for...
P10-2A Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 300 shares of preferred stock and 4,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 1,100 shares of common stock for $42 per share. May 15 Purchase 400 shares of treasury stock for $35 per share. July 10 Resell 200 shares of treasury stock purchased on May...
Required information Problem 10-5A Understand stockholders' equity and the statement of stockholders' equity (LO10-7) [The following information applies to the questions displayed below.] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 100 shares of preferred stock and 2,300 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: 1 Issue 1,200 shares of common stock for $25 per share. 15 Purchase...
Required information Problem 10-5A Understand stockholders' equity and the statement of stockholders' equity (LO10-7) [The following information applies to the questions displayed below.] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 200 shares of preferred stock and 2,800 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: 1 Issue 1,000 shares of common stock for $30 per share. 15 Purchase...
1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Problem 10-2A Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5) [The following information applies to the questions displayed below.] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 380 shares of preferred stock and...
Problem 10-2B Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5) Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2021, 100 shares of preferred stock and 1,500 shares of common stock have been issued. The following transactions affect stockholders’ equity during 2021: March 1 Issue 1,500 additional shares of common stock for $20 per share. April 1 Issue 200 additional shares...
Effect of Transactions on Accounting Equation What is the effect of each of the following transactions on the three elements (assets, liabilities, and stockholders' equity) of the accounting equation? a. Invested cash in business in exchange for common stock. b. Paid for business expenses. c. Paid dividends. d. Purchased supplies on account. e. Received cash for services performed. th Decreases assets and decreases liabilities. Decreases assets and decreases stockholders' equity. Increases assets and increases stockholders' equity. Increases assets and increases...