Listed below are the transactions that affected the shareholders’ equity of Branch-Rickie Corporation during the period...
Listed below are the transactions that affected the shareholders’ equity of Branch-Rickie Corporation during the period 2018–2020. At December 31, 2017, the corporation’s accounts included: ($ in 000s) Common stock, 116 million shares at $1 par $ 116,000 Paid-in capital—excess of par 696,000 Retained earnings 950,000 November 1, 2018, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. On March 1, 2019, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $3.2 million, but were purchased two years previously for $2.8 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed April 5. On July 12, 2019, the corporation declared and distributed a 5% common stock dividend (when the market value of the common stock was $24 per share). Cash was paid in lieu of fractional shares representing 800,000 equivalent whole shares. On November 1, 2019, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. On January 15, 2020, the board of directors declared and distributed a 3-for-2 stock split effected in the form of a 50% stock dividend when the market value of the common stock was $25 per share. On November 1, 2020, the board of directors declared a cash dividend of $0.65 per share on its common shares, payable to shareholders of record November 15, to be paid December
1. Required: 1. Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions. 2. Prepare comparative statements of shareholders’ equity for Branch-Rickie for the three-year period. Net income was $410 million, $475 million, and $535 million for 2018, 2019, and 2020, respectively.
Homework Answers
Add Answer to:
Listed below are the transactions that affected the
shareholders’ equity of Branch-Rickie Corporation during the period...
Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period...
Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2021-2023. At December 31, 2020, the corporation's accounts included: Common stock, 111 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in thousands) $111,000 666,000 900,000 a. November 1, 2021, the board of directors declared a cash dividend of $0.50 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March...
Listed below are the transactions that affected the shareholders’ equity of Branch-Rickie Corporation during the period...
Listed below are the transactions that affected the shareholders’ equity of Branch-Rickie Corporation during the period 2021–2023. At December 31, 2020, the corporation’s accounts included: ($ in thousands) Common stock, 104 million shares at $1 par $ 104,000 Paid-in capital—excess of par 618,000 Retained earnings 830,000 November 1, 2021, the board of directors declared a cash dividend of $0.50 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. On March 1,...
Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period...
Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2018-2020. At December 31, 2017, the corporation's accounts included: Common stock, 110 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in 000s) $110,000 660,000 890,000 a. November 1, 2018, the board of directors declared a cash dividend of $0.60 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March...
($ in eees) $120,000 720,000 990,800 Common stock, 120 million shares at $1 par Paid-in capital-excess of par Retained earnings a. November 1, 2018, the board of directors declared a cash divid...
($ in eees) $120,000 720,000 990,800 Common stock, 120 million shares at $1 par Paid-in capital-excess of par Retained earnings a. November 1, 2018, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1 b. On March 1, 2019, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The...
The balance sheet of Consolidated Paper, Inc., included the following shareholders’ equity accounts at December 31,...
The balance sheet of Consolidated Paper, Inc., included the following shareholders’ equity accounts at December 31, 2017: Paid-in capital: Preferred stock, 7.0%, 99,000 shares at $1 par $ 99,000 Common stock, 494,900 shares at $1 par 494,900 Paid-in capital—excess of par, preferred 1,605,000 Paid-in capital—excess of par, common 2,655,000 Retained earnings 9,845,000 Treasury stock, at cost; 4,900 common shares (58,800 ) Total shareholders' equity $ 14,640,100 During 2018, several events and transactions affected the retained earnings of Consolidated Paper. Required:...
CHAPTER 18 (2.) The balance sheet of Consolidated Paper, Inc., included the following shareholders’ equity accounts...
CHAPTER 18 (2.) The balance sheet of Consolidated Paper, Inc., included the following shareholders’ equity accounts at December 31, 2017: Paid-in capital: Preferred stock, 8.0%, 85,000 shares at $1 par $ 85,000 Common stock, 353,500 shares at $1 par 353,500 Paid-in capital—excess of par, preferred 1,475,000 Paid-in capital—excess of par, common 2,525,000 Retained earnings 8,545,000 Treasury stock, at cost; 3,500 common shares (38,500 ) Total shareholders' equity $ 12,945,000 During 2018, several events and transactions affected the retained earnings of...
The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31,...
The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2020: During 2021, several events and transactions affected the retained earnings of Consolidated Paper Required: 1. Prepare the appropriate entries for these events. a. On March 3, the board of directors declared a property dividend of 205,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $604,000). The investment shares had a fair value of $3 per share and...
Problem 18-8 The balance sheet of Consolidated paper, Inc., included the following shareholders’ equity accounts at...
Problem 18-8 The balance sheet of Consolidated paper, Inc., included the following shareholders’ equity accounts at December 31, 2017. Paid-in capital: Preferred stock, 8.5%, 84,000 shares at $1 par $ 84,000 Common stock, 343-400 shares at $1 par 343,400 Paid-in capital-excess of par, preferred 1, 465,000 Paid-in capital-excess of par, common 2,515,000 Retained earnings 8,445,000 Treasury stock, at cost; 3,400 common shares (34,000) Total shareholders’ equity $12,818,400 Prepare the appropriate entries for these events....
The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31,...
The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2020: $ 83.000 Paid-in capital: Preferred stock, 8.0%, 83,000 shares at $1 par Common stock, 333,300 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 3,300 common shares Total shareholders' equity 333,300 1,455,000 2,505,000 8,345,000 (36,300) $12,685,000 During 2021, several events and transactions affected the retained earnings of Consolidated Paper Required: 1. Prepare...
Need help with all parts please! Each Journal and the shareholders equity section of the balance...
Need help with all parts
please! Each Journal and the shareholders equity section of the
balance sheet,
Ishe balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2017: Paid-in capital: Preferred stock, 7.0%, 99,000 shares at $1 par Common stock, 494,900 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 4,900 common shares Total shareholders' equity $ 99,000 494,900 1,605,000 2,655,000 9,845,000 (58,800)...
Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2021-2023. At December 31, 2020, the corporation's accounts included: Common stock, 111 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in thousands) $111,000 666,000 900,000 a. November 1, 2021, the board of directors declared a cash dividend of $0.50 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March...
Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2018-2020. At December 31, 2017, the corporation's accounts included: Common stock, 110 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in 000s) $110,000 660,000 890,000 a. November 1, 2018, the board of directors declared a cash dividend of $0.60 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March...
($ in eees) $120,000 720,000 990,800 Common stock, 120 million shares at $1 par Paid-in capital-excess of par Retained earnings a. November 1, 2018, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1 b. On March 1, 2019, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The...
The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2020: $ 83.000 Paid-in capital: Preferred stock, 8.0%, 83,000 shares at $1 par Common stock, 333,300 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 3,300 common shares Total shareholders' equity 333,300 1,455,000 2,505,000 8,345,000 (36,300) $12,685,000 During 2021, several events and transactions affected the retained earnings of Consolidated Paper Required: 1. Prepare...
Need help with all parts
please! Each Journal and the shareholders equity section of the
balance sheet,
Ishe balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2017: Paid-in capital: Preferred stock, 7.0%, 99,000 shares at $1 par Common stock, 494,900 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 4,900 common shares Total shareholders' equity $ 99,000 494,900 1,605,000 2,655,000 9,845,000 (58,800)...
Most questions answered within 3 hours.
-
5. Suppose you obtained 0.55 g of crude clove oil from 7.0 g of
fresh cloves....
asked 5 minutes ago -
Provide a paragraph of introduction that generally describes
cognitive development over the lifespan.
asked 10 minutes ago -
In a market, when the price increased the total expenditure on
the good also increased. Is...
asked 10 minutes ago -
If 5.70 g of potassium react with water, how many grams of
hydrogen gas, H2, are...
asked 24 minutes ago -
How many moles of CO2 and H2O will be
produced by combustion analysis of 0.010 mol...
asked 22 minutes ago -
Tennis champion Maria Sharapova is capable of serving a tennis
ball at 126 mph.
b) What...
asked 30 minutes ago -
The electric potential V in the space between the plates of a
given vacuum tube is...
asked 39 minutes ago -
The Hydroboration-Oxidation of an Alkene to Yield 1-Octanol.
1-octene to 1-octanol using BH3-THF
What might be...
asked 45 minutes ago -
You draw and keep a single bill from a hat that contains a
$11, $55, $20...
asked 1 hour ago -
Write a Java program that has the following methods:
findSum - a method that takes in...
asked 1 hour ago -
A coffee cup calorimeter initially contains 135g of water at
22.0oC. Calcium chloride (21.0g) at the...
asked 1 hour ago -
A patient is having a magnetic resonance imaging scan (an MRI)
and has neglected to remove...
asked 1 hour ago