what formulas were being used? I'm having difficulty answering the remaining 5.
Homework Answers
| Shareholders’ Equity Section | ||||
| Paid-in Capital | ||||
| Preferred Stock, $6, no-par, | ||||
| 90000 | shares authorized, | 600 | shares issued and outstanding | $22,000 |
| Common stock, $1 par | ||||
| 140000 | shares authorized, |
2000 [400 + 1,600] |
shares issued and outstanding | $2,000 |
| Paid-in capital in excess of par - Common [Total common stock issued - Total par value = ($13,600 + $19,000) - (2,000 shares issued x $1)] | $30,600 | |||
| Total paid-in capital [$22,000 + $2,000 + $30,600] | $54,600 | |||
| Retained Earnings [Net Income for the year] | $32,000 | |||
| Total Stockholders' Equity [$54,600 + $32,000] | $86,600 | |||
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what formulas were being used? I'm having difficulty answering the remaining 5. 2018 Apr 6 Issued 400 shares of common...
Sep. 6: Issued 250 shares of common stock to the promoters who organized the corporation, receiving cash of $7,500. Dat...
Sep. 6: Issued 250 shares of common stock to the promoters who organized the corporation, receiving cash of $7,500. Date Accounts and Explanation Debit Credit Sep. 6 Cash 7,500 250 Common Stock-$1 Par Value Paid-In Capital in Excess of Par—Common 7,250 Issued common stock for cash. Sep. 12: Issued 450 shares of preferred stock for cash of $21,000. Date Accounts and Explanation Debit Credit Sep. 12 Cash 21,000 Preferred Stock—No Par Value 21,000 Sep. 14: Issued 1,700 shares of common...
Preferred Stock: 10%, $200 par value; 7,000 shares authorized; 3,200 shares issued and outstanding; Paid-in Capital...
Preferred Stock: 10%, $200 par value; 7,000 shares authorized; 3,200 shares issued and outstanding; Paid-in Capital in Excess of Par Value—Preferred Stock, $9,600. Common Stock: $60 par value; 20,000 shares authorized; 9,500 shares issued and outstanding; Paid-in Capital in Excess of Par Value—Common Stock, $11,400. Retained Earnings: Total, $125,000; appropriated for warehouse construction, $50,000. Using this information, prepare the Stockholders’ Equity section of the corporation’s balance sheet
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $10 par, 20,000 shares authorize...
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $10 par, 20,000 shares authorized, 2,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $20,000 15,000 82,000 JAE Corp. completed the following transactions during 2018: 1. Issued 3,000 shares of $10 par common stock for $25 per share. 2. Repurchased 500 shares of its own common stock for $26 per share. 3. Resold 200 shares of treasury stock for $30 per...
The charter for WXYZ minus TVWXYZ−TV, Inc. authorizes the company to issue 100,000 shares of $4...
The charter for WXYZ minus TVWXYZ−TV, Inc. authorizes the company to issue 100,000 shares of $4 no-par preferred stock and 500,000 shares of common stock with $1 par value. During its start-up phase, WXYZ minus TVWXYZ−TV completed the following transactions: LOADING... (Click on the icon to view the transactions)Read the requirements LOADING... . Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Sep.Sep....
$5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized 750,000 40,000 Issued...
$5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized 750,000 40,000 Issued 300,000 8,000 Outstanding 250,000 8,000 Retained earnings is $1,837,000, and the cost of treasury shares is $1,200,000. Required: Prepare the stockholders' equity portion of Renee's balance sheet. Accounts, Labels and Amount Descriptions Accounts Common stock Common stock, $5 par, 750,000 shares authorized, 300,000 shares issued, and 250,000 shares outstanding Preferred stock Preferred stock, $10 par, 40,000 shares authorized, 8,000 shares issued and outstanding Retained...
Common Stock, $1 par (2,700,000 shares authorized, 705,000 shares issued and outstanding) $705,000 Paid-in Capital in...
Common Stock, $1 par (2,700,000
shares authorized, 705,000 shares issued and outstanding)
$705,000
Paid-in Capital in Excess of Par
Value
1,430,000
Retained Earnings
684,000
Accumulated Other Comprehensive Income
47,000
During 2022, the following transactions and events
occurred.
1.
Issued 45,500 shares of $1 par
value common stock for $2 per share.
2.
Issued 60,500 shares of common
stock for cash at $5 per share.
3.
Purchased 23,700 shares of common
stock for the treasury at $3.30 per share.
4.
Declared...
Matchlessly, Inc., was organized in 2017. At December 31, 2017, the company’s Balance sheet reported the...
Matchlessly, Inc., was organized in 2017. At December 31, 2017, the company’s Balance sheet reported the following stockholders’ equity: Matchlessly, Inc. Stockholders’ Equity December 31,2017 Paid-in Capital Preferred stock, 7%, $40 par, 200,000 shares authorized, none issued $ 0 Common stock, $1 par, 600,000 shares authorized, 61,000 shares issued and outstanding 61,000 Paid-in capital in excess of par—common 41,000 Total paid-in capital 102,000 Retained earnings 29,000 Total Stockholders’ equity $131,000 Requirements: 1. During 2018, the company completed the following selected...
Matchlessly, Inc., was organized in 2017. At December 31, 2017, the company’s Balance sheet reported the...
Matchlessly, Inc., was organized in 2017. At December 31, 2017, the company’s Balance sheet reported the following stockholders’ equity: Matchlessly, Inc. Stockholders’ Equity December 31,2017 Paid-in Capital Preferred stock, 7%, $40 par, 200,000 shares authorized, none issued $0 Common stock, $1 par, 600,000 shares authorized, 61,000 shares issued and outstanding 61,000 Paid-in capital in excess of par—common 41,000 Total paid-in capital 102,000 Retained earnings 29,000 Total Stockholders’ equity 131,000 Requirements: 1. During 2018, the company completed the following selected transactions...
Matchlessly, Inc., was organized in 2017. At December 31, 2017, the company’s Balance sheet reported the...
Matchlessly, Inc., was organized in 2017. At December 31, 2017, the company’s Balance sheet reported the following stockholders’ equity: Matchlessly, Inc. Stockholders’ Equity December 31,2017 Paid-in Capital Preferred stock, 7%, $40 par, 200,000 shares authorized, none issued $0 Common stock, $1 par, 600,000 shares authorized, 61,000 shares issued and outstanding 61,000 Paid-in capital in excess of par—common 41,000 Total paid-in capital 102,000 Retained earnings 29,000 Total Stockholders’ equity 131,000 Requirements: 1. During 2018, the company completed the following selected transactions...
Matchlessly, Inc., was organized in 2017. At December 31, 2017, the company’s Balance sheet reported the...
Matchlessly, Inc., was organized in 2017. At December 31, 2017, the company’s Balance sheet reported the following stockholders’ equity: Matchlessly, Inc. Stockholders’ Equity December 31,2017 Paid-in Capital Preferred stock, 7%, $40 par, 200,000 shares authorized, none issued $0 Common stock, $1 par, 600,000 shares authorized, 61,000 shares issued and outstanding 61,000 Paid-in capital in excess of par—common 41,000 Total paid-in capital 102,000 Retained earnings 29,000 Total Stockholders’ equity 131,000 Requirements: 1. During 2018, the company completed the following selected transactions...
Sep. 6: Issued 250 shares of common stock to the promoters who organized the corporation, receiving cash of $7,500. Date Accounts and Explanation Debit Credit Sep. 6 Cash 7,500 250 Common Stock-$1 Par Value Paid-In Capital in Excess of Par—Common 7,250 Issued common stock for cash. Sep. 12: Issued 450 shares of preferred stock for cash of $21,000. Date Accounts and Explanation Debit Credit Sep. 12 Cash 21,000 Preferred Stock—No Par Value 21,000 Sep. 14: Issued 1,700 shares of common...
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $10 par, 20,000 shares authorized, 2,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $20,000 15,000 82,000 JAE Corp. completed the following transactions during 2018: 1. Issued 3,000 shares of $10 par common stock for $25 per share. 2. Repurchased 500 shares of its own common stock for $26 per share. 3. Resold 200 shares of treasury stock for $30 per...
$5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized 750,000 40,000 Issued 300,000 8,000 Outstanding 250,000 8,000 Retained earnings is $1,837,000, and the cost of treasury shares is $1,200,000. Required: Prepare the stockholders' equity portion of Renee's balance sheet. Accounts, Labels and Amount Descriptions Accounts Common stock Common stock, $5 par, 750,000 shares authorized, 300,000 shares issued, and 250,000 shares outstanding Preferred stock Preferred stock, $10 par, 40,000 shares authorized, 8,000 shares issued and outstanding Retained...
Common Stock, $1 par (2,700,000
shares authorized, 705,000 shares issued and outstanding)
$705,000
Paid-in Capital in Excess of Par
Value
1,430,000
Retained Earnings
684,000
Accumulated Other Comprehensive Income
47,000
During 2022, the following transactions and events
occurred.
1.
Issued 45,500 shares of $1 par
value common stock for $2 per share.
2.
Issued 60,500 shares of common
stock for cash at $5 per share.
3.
Purchased 23,700 shares of common
stock for the treasury at $3.30 per share.
4.
Declared...
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