A company’s retained earnings on December 31, 2018 was $2,190,000 and its shareholders’ equity was $8,760,000....
A company’s retained earnings on December 31, 2018 was $2,190,000 and its shareholders’ equity was $8,760,000. During 2019 the company reported the following: Net income $225,000 A sale of treasury stock costing $75,000 for $79,750 A treasury stock purchase costing $125,700 A cash dividend declaration of $73,200 A 10,000 share “small” common stock ($10 par value) dividend was declared and distributed when the market value was $12.75 per share. What is the shareholders’ equity balance on December 31, 2019?
Group of answer choices
$8,663,350
$8,738,350
$8,865,850
$8,934,300
Homework Answers
Answer is option C
C. $8,865,850
Shareholders’ equity balance on December 31, 2019 = shareholders’ equity balance on December 31, 2018 + paid in excess, treasury stock + net income – cash dividend – balance treasury stock = 8760000+(79750-75000)+225000-73200-(125700-75000) = $8865850
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A company’s retained earnings on December 31, 2018 was
$2,190,000 and its shareholders’ equity was $8,760,000....
A company’s retained earnings on December 31, 2018 was $2,190,000 and its shareholders’ equity was $8,760,000....
A company’s retained earnings on December 31, 2018 was $2,190,000 and its shareholders’ equity was $8,760,000. During 2019 the company reported the following: Net income $225,000 A sale of treasury stock costing $75,000 for $79,750 A treasury stock purchase costing $125,700 A cash dividend declaration of $73,200 A 10,000 share “small” common stock ($10 par value) dividend was declared and distributed when the market value was $12.75 per share. What is the retained earnings balance on December 31, 2019? Group...
Douglas McDonald Company’s balance sheet included the following shareholders’ equity accounts at December 31, 2020: ($...
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Douglas McDonald Company’s balance sheet included the following shareholders’ equity accounts at December 31, 2020: ($...
Douglas McDonald Company’s balance sheet included the following shareholders’ equity accounts at December 31, 2020: ($ in millions) Paid-in capital: Common stock, 1,700 million shares at $1 par $ 1,700 Paid-in capital—excess of par 17,400 Retained earnings 16,088 Total shareholders’ equity $ 35,188 On March 16, 2021, a 4% common stock dividend was declared and distributed. The market value of the common stock was $37 per share. Fractional share rights represented 3 million equivalent whole shares. Cash was paid in...
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Douglas McDonald Company’s balance sheet included the following shareholders’ equity accounts at December 31, 2017: Douglas...
Douglas McDonald Company’s balance sheet included the following
shareholders’ equity accounts at December 31, 2017:
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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...
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:...
STEINER CORPORATION Partial Balance Sheet December 31, 2018 Stockholders’ equity 8% Preferred stock, $100 par value,...
STEINER CORPORATION Partial Balance Sheet December 31, 2018 Stockholders’ equity 8% Preferred stock, $100 par value, cumulative, 5,000 shares issued ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$500,000 In excess of par value— preferred stock ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $280,000 Common stock, $5 par value, 440,000 shares issued ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$2,200,000 In excess of par value—common stock ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $800,000 Total paid-in capital ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $3,780,000 Retained earnings ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $1,334,000 Total paid-in capital and retained earnings ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$5,114,000 Less: Treasury stock (10,000 common shares) ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ($120,000) Total stockholders’ equity ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $4,994,000 On December 1, 2018, 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, 7.5%, 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...
Douglas McDonald Company’s balance sheet included the following
shareholders’ equity accounts at December 31, 2017:
Douglas McDonald Company's balance sheet included the following shareholders' equity accounts at December 31, 2017: (s in millions) Paid-in capital: Common stock, 900 million shares at $1 par900 15,800 14,888 $31,588 Paid-in capital-excess of par Retained earnings Total shareholders' equityY On March 16, 2018, a 4% common stock dividend was declared and distributed. The market value of the common stock was S21 per share. Fractional...
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...
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...
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...
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