Homework Answers
Answer c.
| No. | Account and explanation | Debit | Credit |
|---|---|---|---|
| 1 | Cash ($5,230,000 - $4,280,000) | 950000 | |
| Common Shares | 950000 | ||
| (Common shares issued during the year) | |||
| 2 | Dividends Declared | 137200 | |
| Dividends Payable | 137200 | ||
| (Dividends declared during the year) | |||
| 3 | Dividends Payable | 137200 | |
| Cash | 137200 | ||
| (Dividends paid during the year) | |||
| 4 | Income Summary [ $4,202,000 - ($3,404,000 - $137200)] | 935200 | |
| Retained Earnings | 935200 | ||
| (Net income for the year close to retained earnings) | |||
| 5 | Retained Earnings | 137200 | |
| Dividends Declared | 137200 | ||
| (Dividends declared for the year close to retained earnings) |
Add Answer to:
Application Problem 11-9A a-c (Part Level Submission) The shareholders' equity of Deer Ltd. at the end of 2020 and 2019...
Application Problem 11-9A a-c (Part Level Submission) The shareholders' equity of Deer Ltd. at the end...
Application Problem 11-9A a-c (Part Level Submission) The shareholders' equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows: 2020 2019 $181,300 $181,300 Share capital, preferred shares, $2 cumulative, 2,000,000 shares authorized, 25,900 shares issued Share capital, 5,000,000 common shares authorized, 1,260,000 common shares issued (2019-1,070,000 shares) Retained earnings Total shareholders' equity 5,230,000 4,280,000 4,202,000 3,404,000 $9,613,300 $7,865,300 During 2020, Deer paid a total of $137,200 in cash dividends. (a) Your answer is correct. Assume the...
Application Problem 11-9A a-c (Part Level Submission) The shareholders' equity of Deer Ltd. at the end of 2020 and 2019...
Application Problem 11-9A a-c (Part Level Submission) The shareholders' equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows: 2020 2019 $181,300 $181,300 Share capital, preferred shares, $2 cumulative, 2,000,000 shares authorized, 25,900 shares issued Share capital, 5,000,000 common shares authorized, 1,260,000 common shares issued (2019-1,070,000 shares) Retained earnings Total shareholders' equity 5,230,000 4,202,000 $9,613,300 4,280,000 3,404,000 $7,865,300 During 2020, Deer paid a total of $137,200 in cash dividends. (a) Assume the preferred shares were not...
Accounting help me ASAP please help me
The shareholders’ equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows:20202019Share capital, preferred shares, $2 cumulative, 2,000,000 shares authorized, 25,900 shares issued$181,300$181,300Share capital, 5,000,000 common shares authorized, 1,260,000 common shares issued (2019—1,070,000 shares)5,230,0004,280,000Retained earnings4,202,0003,404,000Total shareholders’ equity$9,613,300$7,865,300During 2020, Deer paid a total of $137,200 in cash dividends.Assume the preferred shares were not in arrears at December 31, 2019. How was the $137,200 in cash dividends distributed between the two types of shares in 2020?PreferredCommon Total2020$ $ $ Assume the preferred share dividends were in arrears for one year; that is, the dividends were...
Question 2 The shareholders' equity of Deer Ltd. at the end of 2020 and 2019 appeared...
Question 2 The shareholders' equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows: Share capital, preferred shares, $2 cumulative, 2,000,000 shares authorized, 26,700 shares issued Share capital, 5,000,000 common shares authorized, 1,250,000 $213,600 $213,600 common shares issued (2019-1,050,000 shares) Retained earnings Total shareholders' equity 5,200,000 4,200,000 3,979,000 3,187,000 $9,392,600 $7,600,600 During 2020, Deer paid a total of $114,300 in cash dividends, [y] Your answer is correct. Assume the preferred shares were not in arrears at...
I NEED URGENT HELP PLEASE, MY ASSIGNMENT IS DUE IN HALF AN HOUR. THANK YOU IN...
I NEED URGENT HELP PLEASE, MY ASSIGNMENT IS DUE IN HALF AN HOUR.
THANK YOU IN ADVANCE!!
I need Answers for all 3 columns; Preferred, Common and
Total, please.
I need answers for all Credit and Debit columns please,
thank you!
Current Attempt in Progress The shareholders'equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows: 2020 Share capital, preferred shares, $2 cumulative, 2,000,000 shares authorized, 26,700 shares issued $213,600 Share capital, 5,000,000 common shares authorized...
Application Problem 11-13A a-b (Part Level Submission) Southwestern Exposure Ltd. began operations on January 2, 2020....
Application Problem 11-13A a-b (Part Level Submission) Southwestern Exposure Ltd. began operations on January 2, 2020. During the year, the following transactions affected shareholders' equity: 1. Southwestern Exposure's articles of incorporation authorize the issuance of 1,000,000 common shares, and the issuance of 235,000 preferred shares, which pay an annual dividend of $2.00 per share. 2. A total of 255,000 common shares were issued for $5 a share. 3. A total of 15,000 preferred shares were issued for $13 per share....
Problem 11-3A (Part Level Submission) The stockholders' equity accounts of Concord Corporation on January 1, 2019,...
Problem 11-3A (Part Level Submission) The stockholders' equity accounts of Concord Corporation on January 1, 2019, were as follows. Preferred Stock (8%, $50 par, cumulative, 11,000 shares authorized) Common Stock ($1 stated value, 1,950,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (10,500 common shares) $ 425,000 1,150,000 105,000 1,450,000 1,850,000 42,000 During 2019, the corporation had the following transactions and events pertaining to its stockholders' equity....
Problem 11-3A (Part Level Submission) The stockholders’ equity accounts of Cullumber Company on January 1, 2019,...
Problem 11-3A (Part Level Submission) The stockholders’ equity accounts of Cullumber Company on January 1, 2019, were as follows. Preferred Stock (8%, $48 par, cumulative, 10,000 shares authorized) $ 360,000 Common Stock ($1 stated value, 1,900,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par—Preferred Stock 100,000 Paid-in Capital in Excess of Stated Value—Common Stock 1,400,000 Retained Earnings 1,750,000 Treasury Stock (10,000 common shares) 40,000 During 2019, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb....
On January 1, 2018, Sweetwater Ltd., a private company, had the following shareholders' equity accounts: Preferred...
On January 1, 2018, Sweetwater Ltd., a private company, had the following shareholders' equity accounts: Preferred shares, $1 noncumulative, unlimited number authorized, none issued Common shares, unlimited number authorized, 2.06 million issued Retained earnings $2,860,000 3,470,000 The following selected transactions occurred during 2018: Jan. 2 Issued 210,000 preferred shares at $25 per share. Feb. 8 Issued 100,000 common shares in exchange for land. On this date, the current value of the land was $210,000. The common shares have not recently...
ONLY PART C Problem 14-02A a-c (Part Level Submission) The post-closing trial balance of Sheridan Corporation...
ONLY PART C
Problem 14-02A a-c (Part Level Submission) The post-closing trial balance of Sheridan Corporation at December 31, 2020, contains the following stockholders' equity accounts. Preferred Stock (16,000 shares issued) Common Stock (259,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings $800,000 2,590,000 259,000 410,000 259,000 921,900 A review of the accounting records reveals the following. 2. No errors have been made in recording 2020...
Application Problem 11-9A a-c (Part Level Submission) The shareholders' equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows: 2020 2019 $181,300 $181,300 Share capital, preferred shares, $2 cumulative, 2,000,000 shares authorized, 25,900 shares issued Share capital, 5,000,000 common shares authorized, 1,260,000 common shares issued (2019-1,070,000 shares) Retained earnings Total shareholders' equity 5,230,000 4,280,000 4,202,000 3,404,000 $9,613,300 $7,865,300 During 2020, Deer paid a total of $137,200 in cash dividends. (a) Your answer is correct. Assume the...
Application Problem 11-9A a-c (Part Level Submission) The shareholders' equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows: 2020 2019 $181,300 $181,300 Share capital, preferred shares, $2 cumulative, 2,000,000 shares authorized, 25,900 shares issued Share capital, 5,000,000 common shares authorized, 1,260,000 common shares issued (2019-1,070,000 shares) Retained earnings Total shareholders' equity 5,230,000 4,202,000 $9,613,300 4,280,000 3,404,000 $7,865,300 During 2020, Deer paid a total of $137,200 in cash dividends. (a) Assume the preferred shares were not...
Question 2 The shareholders' equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows: Share capital, preferred shares, $2 cumulative, 2,000,000 shares authorized, 26,700 shares issued Share capital, 5,000,000 common shares authorized, 1,250,000 $213,600 $213,600 common shares issued (2019-1,050,000 shares) Retained earnings Total shareholders' equity 5,200,000 4,200,000 3,979,000 3,187,000 $9,392,600 $7,600,600 During 2020, Deer paid a total of $114,300 in cash dividends, [y] Your answer is correct. Assume the preferred shares were not in arrears at...
I NEED URGENT HELP PLEASE, MY ASSIGNMENT IS DUE IN HALF AN HOUR.
THANK YOU IN ADVANCE!!
I need Answers for all 3 columns; Preferred, Common and
Total, please.
I need answers for all Credit and Debit columns please,
thank you!
Current Attempt in Progress The shareholders'equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows: 2020 Share capital, preferred shares, $2 cumulative, 2,000,000 shares authorized, 26,700 shares issued $213,600 Share capital, 5,000,000 common shares authorized...
Application Problem 11-13A a-b (Part Level Submission) Southwestern Exposure Ltd. began operations on January 2, 2020. During the year, the following transactions affected shareholders' equity: 1. Southwestern Exposure's articles of incorporation authorize the issuance of 1,000,000 common shares, and the issuance of 235,000 preferred shares, which pay an annual dividend of $2.00 per share. 2. A total of 255,000 common shares were issued for $5 a share. 3. A total of 15,000 preferred shares were issued for $13 per share....
Problem 11-3A (Part Level Submission) The stockholders' equity accounts of Concord Corporation on January 1, 2019, were as follows. Preferred Stock (8%, $50 par, cumulative, 11,000 shares authorized) Common Stock ($1 stated value, 1,950,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (10,500 common shares) $ 425,000 1,150,000 105,000 1,450,000 1,850,000 42,000 During 2019, the corporation had the following transactions and events pertaining to its stockholders' equity....
On January 1, 2018, Sweetwater Ltd., a private company, had the following shareholders' equity accounts: Preferred shares, $1 noncumulative, unlimited number authorized, none issued Common shares, unlimited number authorized, 2.06 million issued Retained earnings $2,860,000 3,470,000 The following selected transactions occurred during 2018: Jan. 2 Issued 210,000 preferred shares at $25 per share. Feb. 8 Issued 100,000 common shares in exchange for land. On this date, the current value of the land was $210,000. The common shares have not recently...
ONLY PART C
Problem 14-02A a-c (Part Level Submission) The post-closing trial balance of Sheridan Corporation at December 31, 2020, contains the following stockholders' equity accounts. Preferred Stock (16,000 shares issued) Common Stock (259,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings $800,000 2,590,000 259,000 410,000 259,000 921,900 A review of the accounting records reveals the following. 2. No errors have been made in recording 2020...
Most questions answered within 3 hours.
-
Evelyn incorporates her sole proprietorship, transferring it to
newly formed Papaya Corporation. The assets transferred have...
asked 11 seconds from now -
A
752 mL sample of water was placed in a 1000 gram pan of aluminum.
The...
asked 1 minute ago -
1 point) Given the significance level α=0.01 find the following:
(a) left-tailed z value z= (b)...
asked 2 minutes ago -
Calculate the expected value, the variance, and the standard
deviation of the given random variable X....
asked 4 minutes ago -
Assume that in a hydrogen atom, the electron circles the nucleus
in a circle of radius...
asked 8 minutes ago -
Describe two obstacles that makes fixing atmospheric nitrogen
difficult.
asked 13 minutes ago -
T
F 53) Most differences
between human groups are the result of biology rather than
culture....
asked 17 minutes ago -
A 5.20 mW helium neon laser emits a visible laser beam with a
wavelength of 633...
asked 20 minutes ago -
Assignment:
Your
organization has made a strategic decision
to
outsourcework
currently performed in house. You have...
asked 19 minutes ago -
A hospital performs 100 surgeries per week. The probability that
complications after surgery occur is 10%....
asked 20 minutes ago -
In preparing its cash flow statement for the year ended December
31, 2018, Green Co. gathered...
asked 22 minutes ago -
Donna is 18 years old and full time accounting student.She is
saving for an overseas holiday...
asked 22 minutes ago