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Mady Entertainment Inc. showed the following equity account balances on the December 31, 2019, balance sheet:...
Mady Entertainment Inc. showed the following equity account balances on the December 31, 2019, balance sheet:...
Mady Entertainment Inc. showed the following equity account
balances on the December 31, 2019, balance sheet:
Common shares, unlimited authorized shares, 550,000 shares
issued and outstanding
$
3,850,000
Retained earnings
2,580,000
During 2020, the following selected transactions occurred:
Apr.
1
Repurchased and retired 150,000 common shares at $7.60 per
share; this is the first retirement recorded by Mady.
June
1
Declared a 2:1 share split to shareholders of record on June
12, distributable June 30.
Dec.
1
Declared a 10%...
AIM Inc. showed the following equity account balances on the December 31, 2019, balance sheet: Common shares, unlimited authorized shares, 820,000 shares issued and outstanding $ 6,478,000 Retained earnings 2,123,600 During 2020, the following
AIM Inc. showed the following equity account balances on the December 31, 2019, balance sheet: Common shares, unlimited authorized shares, 820,000 shares issued and outstanding$6,478,000Retained earnings2,123,600During 2020, the following selected transactions occurred: Feb.10Repurchased and retired 159,000 common shares at $10.00 per share; this is the first retirement recorded by AIM.May15Declared a 2:1 share split to shareholders of record on June 1, distributable June 15.Dec.1Declared a 10% share dividend to shareholders of record on December 10, distributable December 20. The market prices 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: Paid-in capital: Preferred stock, 8.8%, 95, eee shares at $i par Common stock, 454,500 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 4,500 common shares Total shareholders' equity $ 95, eee 454,500 1,565,000 2,615, cee 9,445, eee (49,500) $14,125,000 During 2021, several events and transactions affected the retained earnings of Consolidated...
On December 31, 2016, Crane Corporation had the following shareholders’ equity accounts: CRANE CORPORATION Balance Sheet...
On December 31, 2016, Crane Corporation had the following
shareholders’ equity accounts:
CRANE CORPORATION
Balance Sheet (partial)
December 31, 2016
Shareholders’ equity
Common shares (unlimited number
of shares authorized, 92,000 issued)
$1,033,000
Retained earnings
520,000
Total shareholders’ equity
$1,553,000
During the year, the following transactions occurred:
Jan.
15
Declared a $1 per share cash dividend to shareholders of record
on January 31, payable February 15.
July
1
Announced a 2-for-1 stock split. The market price per share on
the date...
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, 7.5%, 92,000 shares at $1 par Common stock, 424,280 shares at $1 par Paid-in capital-excess of par, preferred Paid in capital-excess of par, common Retained earnings Treasury stock, at cost; 4,200 common shares Total shareholders' equity 92,000 424, 20e 1,535,000 2,585,000 9, 145, eee (46,200) $13,735,869 During 2018, several events and transactions affected the retained earnings of Consolidated Paper...
The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December...
The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31, 2017 Common shares, unlimited shares authorized 20,900 shares issued and outstanding Retained earnings $377,000 225,000 Total equity $602,000 In 2018, Umi had the following transactions affecting shareholders and the equity accounts Jan. 5 The directors declared a $4.10 per share cash dividend payable on Feb. 28 to the Feb. 5 shareholders of record Feb. 28 Paid the dividend declared on January 5 July...
Pacifica Papers Inc. needed to conserve cash, so instead of a cash dividend the board of...
Pacifica Papers Inc. needed to conserve cash, so instead of a
cash dividend the board of directors declared a 5% common share
dividend on June 30, 2020, distributable on July 15, 2020. Because
performance during 2020 was better than expected, the company’s
board of directors declared a $0.95 per share cash dividend on
November 15, 2020, payable on December 1, 2020, to shareholders of
record on November 30, 2020. The equity section of Pacifica’s
December 31, 2019, balance sheet showed:...
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...
The equity section of the December 31, 2019, balance sheet for Delicious Alternative Desserts Inc. showed...
The equity section of the December 31, 2019, balance sheet for Delicious Alternative Desserts Inc. showed the following: Delicious Alternative Desserts Inc. Equity Section of the Balance Sheet December 31, 2019Contributed capital: Preferred shares, $0.40 cumulative; 80,000 shares authorized; 50,000 shares issued and outstanding$200,000 Common shares; 250,000 shares authorized; 110,000 shares issued and outstanding 176,000 Total contributed capital$376,000 Retained earnings 148,000 Total equity$524,000 During the year 2020, the company had the following transactions affecting equity accounts: Jan.3 Sold 10,000 common...
The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31, 2019: Common shares, unlimited shares authorized, 20,100 shares issued and outstanding $ 369,000 Retained earnings 217,000 Total equi
The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31, 2019: Common shares, unlimited shares authorized, 20,100 shares issued and outstanding$369,000Retained earnings217,000Total equity$586,000In 2020, Umi had the following transactions affecting shareholders and the equity accounts: Jan.5The directors declared a $3.30 per share cash dividend payable on Feb. 28 to the Feb. 5 shareholders of record.Feb.28Paid the dividend declared on January 5.July6Sold 800 common shares at $38.50 per share.Aug.22Sold 1,300 common shares at $27.30 per share.Sept.5The...
Mady Entertainment Inc. showed the following equity account
balances on the December 31, 2019, balance sheet:
Common shares, unlimited authorized shares, 550,000 shares
issued and outstanding
$
3,850,000
Retained earnings
2,580,000
During 2020, the following selected transactions occurred:
Apr.
1
Repurchased and retired 150,000 common shares at $7.60 per
share; this is the first retirement recorded by Mady.
June
1
Declared a 2:1 share split to shareholders of record on June
12, distributable June 30.
Dec.
1
Declared a 10%...
The balance sheet of Consolidated Paper, Inc., Included the following shareholders' equity accounts at December 31, 2020: Paid-in capital: Preferred stock, 8.8%, 95, eee shares at $i par Common stock, 454,500 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 4,500 common shares Total shareholders' equity $ 95, eee 454,500 1,565,000 2,615, cee 9,445, eee (49,500) $14,125,000 During 2021, several events and transactions affected the retained earnings of Consolidated...
On December 31, 2016, Crane Corporation had the following
shareholders’ equity accounts:
CRANE CORPORATION
Balance Sheet (partial)
December 31, 2016
Shareholders’ equity
Common shares (unlimited number
of shares authorized, 92,000 issued)
$1,033,000
Retained earnings
520,000
Total shareholders’ equity
$1,553,000
During the year, the following transactions occurred:
Jan.
15
Declared a $1 per share cash dividend to shareholders of record
on January 31, payable February 15.
July
1
Announced a 2-for-1 stock split. The market price per share on
the date...
The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2017: Paid-in capital: Preferred stock, 7.5%, 92,000 shares at $1 par Common stock, 424,280 shares at $1 par Paid-in capital-excess of par, preferred Paid in capital-excess of par, common Retained earnings Treasury stock, at cost; 4,200 common shares Total shareholders' equity 92,000 424, 20e 1,535,000 2,585,000 9, 145, eee (46,200) $13,735,869 During 2018, several events and transactions affected the retained earnings of Consolidated Paper...
The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31, 2017 Common shares, unlimited shares authorized 20,900 shares issued and outstanding Retained earnings $377,000 225,000 Total equity $602,000 In 2018, Umi had the following transactions affecting shareholders and the equity accounts Jan. 5 The directors declared a $4.10 per share cash dividend payable on Feb. 28 to the Feb. 5 shareholders of record Feb. 28 Paid the dividend declared on January 5 July...
Pacifica Papers Inc. needed to conserve cash, so instead of a
cash dividend the board of directors declared a 5% common share
dividend on June 30, 2020, distributable on July 15, 2020. Because
performance during 2020 was better than expected, the company’s
board of directors declared a $0.95 per share cash dividend on
November 15, 2020, payable on December 1, 2020, to shareholders of
record on November 30, 2020. The equity section of Pacifica’s
December 31, 2019, balance sheet showed:...
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