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Dirk Company reported the following balances at December 31, 2018: common stock $500,000, paid-in capital in...
E14-10 following balances at December 31, 2016: common stock $500,000, paid-in capital in excess of par...
E14-10
following balances at December 31, 2016: common stock $500,000, paid-in capital in excess of par value-common stock $100,000, and retained earnings $250,000. During 2017, the following transactions affected stockholders' equity 1. Issued preferred stock with a par value of $125,000 for $200,000. 2. Purchased treasury stock (common) for $40,000. 3. Earned net income of $180,000. 4. Declared and paid cash dividends of $56,000. section. (LO 3) Instructions Prepare the stockholders' equity section of Dirk Companys December 31, 2017, balance...
Exercise 11-21 Dirk Company reported the following balances at December 31, 2016: common stock $391,000, paid-in...
Exercise 11-21 Dirk Company reported the following balances at December 31, 2016: common stock $391,000, paid-in capital in excess of par value—common stock $109,000, and retained earnings $242,000. During 2017, the following transactions affected stockholders' equity. 1. Issued preferred stock with a par value of $122,000 for $204,000. 2. Purchased treasury stock (common) for $39,000. 3. Earned net income of $143,500. 4. Declared and paid cash dividends of $51,000. Prepare the stockholders’ equity section of Dirk Company’s December 31, 2017,...
Ex:8 Slate Corporation had the following balances in its stockholders' equity accounts December 31, 2017: Common...
Ex:8 Slate Corporation had the following balances in its stockholders' equity accounts December 31, 2017: Common Stock, $10 par, 500,000 shares authorized, 20,000 shares issued. $200,000 Paid-in Capital in Excess of Par Value, Common 250,000 Retained Earnings ........ 500,000 Treasury Stock, 1,000 shares ....... 20,000) Total stockholders' equity ............ ..... $930,000 The following transactions occurred during 2018: February 3 May 10 October 12 December 31 Sold and issued 2,000 shares of common stock for $22 per share. Declared a $0.50...
The following was taken from Stockholders’ Equity section of Lynbrook’s December 31, 2018 balance sheet: Common stock- $...
The following was taken from Stockholders’ Equity section of Lynbrook’s December 31, 2018 balance sheet: Common stock- $10 par value, 200,000 shares authorized 50,000 shares issued and outstanding 500,000 Additional Paid-in Capital 80,000 Retained earnings 350,000 Total stockholders' equity 930,000 In year 2019, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 4,000 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on Feb. 28 to...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$10 par...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$10 par value, 100,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 80,000 400,000 $ 980,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 5,000 shares of its own stock at $15 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable...
8. Slate Corporation had the following balances in its stockholders' equity accounts at December 31, 2015:...
8. Slate Corporation had the following balances in its stockholders' equity accounts at December 31, 2015: $200,000 Common Stock, $10 par, 500,000 shares authorized, 20,000 shares issued Paid-in Capital in Excess of Par Value, Common Retained Earnings Treasury Stock, 1.000 shares Total stockholders' equity 250,000 500,000 (20,000) $930,000 The following transactions occurred during 2016: February 3 Sold and issued 2,000 shares of common stock for $22 per share. May 10 Declared a $0.50 per share dividend on common stock October...
32. Knapp's Marine Supply reported the following information at December 31, 2019: Common stock, $2 par, 500,000...
32. Knapp's Marine Supply reported the following information at December 31, 2019: Common stock, $2 par, 500,000 shares authorized $ 300,000 Additional paid-in capital - Common 160,000 Retained earnings Less: Treasury Stock (cost $10/share) 90,000 (20,000) Total stockholders' equity $530,000 Answer the following questions for Knapp's Marine Supply. a) What is the Contributed Capital? $ _________________________ b) Would the total stockholders’ equity increase, decrease, or remain the same, if the company declared a 2-for-1 stock split on December 31, 2019? Explain. c) Would...
Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$10 par...
Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$10 par value, 100,000 shares authorized, 50,000 shares issued and outstanding $ 500,000 Paid-in capital in excess of par value, common stock 70,000 Retained earnings 430,000 Total stockholders' equity $ 1,000,000 During 2019, the following transactions affected its stockholders’ equity accounts. Jan. 2 Purchased 4,000 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $6 per share cash dividend payable...
Scranton Company has the following stockholder equity items at December 31, 2018: Common Stock 1,000,000 shares...
Scranton Company has the following stockholder equity items at December 31, 2018: Common Stock 1,000,000 shares authorized, 400,000 shares issued, $2 par Preferred Stock, 200,000 shares authorized, 100,000 shares issued, $10 par Common Stock Dividend Distributable, $250,000 Cash Dividend Distributable, $300,000 Additional Paid in Capital-common stock, $2,000,000 Additional Paid in Capital-preferred stock, $1,000,000 Retained Earnings, $5,000,000 Treasury Stock, 40,000 shares, at cost, $300,000 Prepare in good format the stockholder equity section of the balance sheet.
Knapp's Marine Supply reported the following information at December 31, 2018: Common stock, $1 par, 500,000...
Knapp's Marine Supply reported the following information at December 31, 2018: Common stock, $1 par, 500,000 shares authorized $ 300,000 Additional paid-in capital - Common 160,000 Retained earnings Less: Treasury Stock (cost $10/share) 90,000 (20,000) Total stockholders' equity $530,000 Answer the following questions for Knapp's Marine Supply. What is the Contributed Capital? $ _________________________ Would the total stockholders’ equity increase, decrease, or remain the same, if the company declared a 2-for-1 stock split on December 31, 2018? Explain. Would the...
E14-10
following balances at December 31, 2016: common stock $500,000, paid-in capital in excess of par value-common stock $100,000, and retained earnings $250,000. During 2017, the following transactions affected stockholders' equity 1. Issued preferred stock with a par value of $125,000 for $200,000. 2. Purchased treasury stock (common) for $40,000. 3. Earned net income of $180,000. 4. Declared and paid cash dividends of $56,000. section. (LO 3) Instructions Prepare the stockholders' equity section of Dirk Companys December 31, 2017, balance...
Ex:8 Slate Corporation had the following balances in its stockholders' equity accounts December 31, 2017: Common Stock, $10 par, 500,000 shares authorized, 20,000 shares issued. $200,000 Paid-in Capital in Excess of Par Value, Common 250,000 Retained Earnings ........ 500,000 Treasury Stock, 1,000 shares ....... 20,000) Total stockholders' equity ............ ..... $930,000 The following transactions occurred during 2018: February 3 May 10 October 12 December 31 Sold and issued 2,000 shares of common stock for $22 per share. Declared a $0.50...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$10 par value, 100,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 80,000 400,000 $ 980,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 5,000 shares of its own stock at $15 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable...
8. Slate Corporation had the following balances in its stockholders' equity accounts at December 31, 2015: $200,000 Common Stock, $10 par, 500,000 shares authorized, 20,000 shares issued Paid-in Capital in Excess of Par Value, Common Retained Earnings Treasury Stock, 1.000 shares Total stockholders' equity 250,000 500,000 (20,000) $930,000 The following transactions occurred during 2016: February 3 Sold and issued 2,000 shares of common stock for $22 per share. May 10 Declared a $0.50 per share dividend on common stock October...
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