Homework Answers
Stockholders' equity section is prepared as follows:
Results of the excel sheet are as follows:
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On January 2, 2020, the Jing Company received its charter. It issued all of its authorized 6,000 shares of no-par...
On January 2, 2020, the Jing Company received its charter. It issued all of its authorized...
On January 2, 2020, the Jing Company received its charter. It issued all of its authorized 6,000 shares of no-par preferred stock at $106 per share and all of its 12,000 authorized shares of no-par common stock at $42 per share. The preferred stock has a stated value of $60 per share, is entitled to a basic cumulative annual dividend of $7 per share, is callable at $110 beginning in 2022, and is entitled to $100 per share plus cumulative...
Sun Corporation received a charter that authorized the issuance of 116,000 shares of $5 par common...
Sun Corporation received a charter that authorized the issuance
of 116,000 shares of $5 par common stock and 21,000 shares of $100
par, 5 percent cumulative preferred stock. Sun Corporation
completed the following transactions during its first two years of
operation:
2018
Jan.
5
Sold 17,400 shares of the $5 par common stock for $7 per
share.
12
Sold 2,100 shares of the 5 percent preferred stock for $110 per
share.
Apr.
5
Sold 23,200 shares of the $5 par...
Uzi Company received a charter granting the right to issue 200,000 shares of $2 par value...
Uzi Company received a charter granting the right to issue 200,000 shares of $2 par value common stock and 10,000 shares of 9% cumulative and nonparticipating, $50 par value preferred stock that is callable at $80 per share. Selected transactions are presented below. 2014 Feb. 19 Issued 45,000 shares of common stock at par for cash. 22 Gave the corporation’s promoters 30,000 shares of common stock for their services in getting the corporation organized. The directors valued the services at...
Major League Apparel has two classes of stock authorized: 4%. $10 par preferred, and $1 par...
Major League Apparel has two classes of stock authorized: 4%. $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021. its first year of operations: January 2 Issue 120,000 shares of common stock for $50 per share. February 14 Issue 40,000 shares of preferred stock for $13 per share. May 8 Purchase 12,000 shares of its own common stock for $40 per share. May 31 Resell 6,000 shares of treasury stock for $45 per...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized. 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid-in-Capital from Common Stock $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...
Sun Corporation received a charter that authorized the issuance of 104,000 shares of $4 par common...
Sun Corporation received a charter that authorized the issuance of 104,000 shares of $4 par common stock and 19,000 shares of $75 par, 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation: 2018 Jan. 5 Sold 15,600 shares of the $4 par common stock for $6 per share. 12 Sold 1,900 shares of the 5 percent preferred stock for $85 per share. Apr. 5 Sold 20,800 shares of the $4 par...
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued...
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued and outstanding In excess of per on preferred stock Total Paid-in-Capital from Preferred Stock $ 5.000.000 $ 5,300,000 $ $ 7.500.000 200.000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized, 300,000 shares issued and outstanding In excess of stated value on common stock Total Paid-in-Capital from Common Stock Total Paid-in-Capital Retnined Earnings (Note A) Total Stockholder's Equity $ $ $ $ 100,000...
Pina Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 13%, $ 100 par (100,000 shares authorized, 28,000 shares issued) $ 2,800,000 Common stock, $ 1 par (1,000,000 sha
Pina Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 13%, $ 100 par (100,000 shares authorized, 28,000 shares issued)$ 2,800,000 Common stock, $ 1 par (1,000,000 shares authorized, 307,000 shares issued) 307,000 Additional paid-in capital-common 858,000 Retained earnings 1,379,000 Total $ 5,344,000 During 2020, Pina took part in the following transactions concerning stockholders’ equity. .1.Paid the annual 2019 dividend on preferred stock and a $ 0.50 per share dividend on common stock. These dividends had been declared on December...
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 300 shares of preferred stock and 4,000 shares of common stock have been issued.
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 300 shares of preferred stock and 4,000 shares of common stock have been issued. The following transactions affect stockholders’ equity during 2021:March1Issue 1,100 shares of common stock for $42 per share.May15Purchase 400 shares of treasury stock for $35 per share.July10Resell 200 shares of treasury stock purchased on May 15 for $40 per share.October15Issue 200 shares of preferred stock...
Tandy Company was issued a charter by the state of Indiana on January 15 of this...
Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the followin Common stock, $6 par value, 115,000 shares authorized Preferred stock, 7 percent, par value $10 per share, 4,900 shares authorized During the year, the following transactions took place in the order presented: a. Sold and issued 21,700 shares of common stock at $20 cash per share. b. Sold and issued 1,300 shares of preferred stock at $24 cash...
Sun Corporation received a charter that authorized the issuance
of 116,000 shares of $5 par common stock and 21,000 shares of $100
par, 5 percent cumulative preferred stock. Sun Corporation
completed the following transactions during its first two years of
operation:
2018
Jan.
5
Sold 17,400 shares of the $5 par common stock for $7 per
share.
12
Sold 2,100 shares of the 5 percent preferred stock for $110 per
share.
Apr.
5
Sold 23,200 shares of the $5 par...
Major League Apparel has two classes of stock authorized: 4%. $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021. its first year of operations: January 2 Issue 120,000 shares of common stock for $50 per share. February 14 Issue 40,000 shares of preferred stock for $13 per share. May 8 Purchase 12,000 shares of its own common stock for $40 per share. May 31 Resell 6,000 shares of treasury stock for $45 per...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized. 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid-in-Capital from Common Stock $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued and outstanding In excess of per on preferred stock Total Paid-in-Capital from Preferred Stock $ 5.000.000 $ 5,300,000 $ $ 7.500.000 200.000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized, 300,000 shares issued and outstanding In excess of stated value on common stock Total Paid-in-Capital from Common Stock Total Paid-in-Capital Retnined Earnings (Note A) Total Stockholder's Equity $ $ $ $ 100,000...
Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the followin Common stock, $6 par value, 115,000 shares authorized Preferred stock, 7 percent, par value $10 per share, 4,900 shares authorized During the year, the following transactions took place in the order presented: a. Sold and issued 21,700 shares of common stock at $20 cash per share. b. Sold and issued 1,300 shares of preferred stock at $24 cash...
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