Homework Answers
| 1 | ||||||
| Par value of common stock | Value of common stock/No of shares issued and outstanding | |||||
| Par value of common stock | 118530/118529925 | |||||
| Par value of common stock | $0.001 | |||||
| 2 | ||||||
| Common stock outstanding | Common shares issued - Treasury stock | |||||
| Current year | Last year | |||||
| Common shares issued | 118,529,925 | 117,706,523 | ||||
| Treasury stock | (73,099,319) | (61,740,439) | ||||
| Common stock outstanding | 45,430,606 | 55,966,084 | ||||
| 3. | ||||||
| Retained earnings balance for last year is shown below | ||||||
| Retained earnings current year | $3,107,344,000 | |||||
| Add: Dividend | $10,002,000 | |||||
| Less: Net income | -$463,909,000 | |||||
| Retained earnings last year | $2,653,437,000 | |||||
| 4. | ||||||
| The dollar amount in treasury stock represent shares repurchased by company for which company would pay cash and thus cash would decrease by the amount of treasury shares repurchased. | ||||||
| Treasury shares are not separately shown on asset side of balance sheet however would be deducted from cash balance as there would be cash outflow. | ||||||
| 5. | ||||||
| Increase (Decrease) in treasury shares | Current year - Last year | |||||
| Increase (Decrease) in treasury shares | 1846312000-1355526000 | |||||
| Increase (Decrease) in treasury shares | $490,786,000 | |||||
| 6. | ||||||
| Average price paid per share | Value of treasury shares/No of treasury shares | |||||
| Average price paid per share | 1846312000/73099319 | |||||
| Average price paid per share | $25.2576 | |||||
| Average price paid per share | $25.26 | (rounded to two decimals) | ||||
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Assume that the stockholders equity section on the balance sheet of Dillards, a popular department is show. beliw.Durin...
Assume that the stockholders' equity section on the balance sheet of Dillard's, a popular department store,...
Assume that the stockholders' equity section on the balance sheet of Dillard's, a popular department store, is shown below. During the year, the company reported net income of $463,909,000 and declared and paid dividends of $10,002,000. Current Year Last Year 118,530 117,707 Stockholders' Equity: Common stock, Class A-118,529,925 and 117,706,523 shares issued; ? and ? shares outstanding Common stock, Class B (convertible)-4,010,929 shares issued and outstanding Additional paid-in capital Retained earnings Less treasury stock, at cost, Class A- 73,099, 319...
Assume that the stockholders' equity section on the balance sheet of Mangum's, a popular department store,...
Assume that the stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. During the year, the company reported net income of $241,115,000 and declared and paid dividends of $11,907.000. Current Year Last Year $ 1,166,000 $ 1,166,000 Stockholders' Equity: Common stock, Class A-116,630,308 and 116,575,495 shares issued; ? and ? shares outstanding Common stock, Class B (convertible)- 4,150,929 shares issued and outstanding Additional paid-in capital Retained earnings Less treasury stock, at cost, Class...
The stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown...
The stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. During the year, the company reported net income of $241,145,000 and declared and paid dividends of $11,917,000. Stockholders' Equity Current Year Last Year Common stock, Class A—116,670,308 and 116,515,495 shares issued; ? and ? shares outstanding 1,167,000 1,165,000 Common stock, Class B (convertible)-4,080,929 shares issued and outstanding 41,000 41,000 Additional paid-in capital 779,055,000 791,987,000 Retained earnings 2,457,727,000 Less treasury stock, at cost, Class...
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018....
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018. is as follows. $ 580,000 Stockholders' Equity Paid-in capital Preferred stock,? par value, 5% cumulative, 288,eee shares authorized, 58,000 shares issued and outstanding Connon stock, $20 stated value, 330,000 shares authorized, 58, eee?? shares issued and outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Connon Total paid-in capital Retained earnings Treasury stock, 5,eee shares Total stockholders' equity 1,160, eee...
Problem 8-25 Analyzing the stockholders' equity section of the balance sheet The stockholders' equity section of...
Problem 8-25 Analyzing the stockholders' equity section of the balance sheet The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2016, is as follows. Stockholders Equity Paid-in capital 200,000 Preferred stock, ? par value, 6% cumulative, 100,000 shares authorized 10,000 shares issued and outstanding Common stock, $10 stated value, 200,000 shares authorized, 100,000 shares issued and ?? shares outstanding 1,000,000 Paid-in capital in excess of par- Preferred 25,000 Paid-in capital in 50o,000 excess of...
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018....
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018. is as follows. $540,eee Stockholders' Equity Paid-in capital Preferred stock,? par value, 5% cumulative, 150,000 shares authorized, 45,000 shares issued and outstanding Common stock, $15 stated value, 280,000 shares authorized 45,eee?? shares issued and outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Connon Total paid-in capital Retained earnings Treasury stock, 4,000 shares Total stockholders' equity 675,000 35,000 225, eee...
Stockholders' Equity Section of Balance Sheet The following Stockholders' Equity section of the balance sheet prepared...
Stockholders' Equity Section of Balance Sheet The following Stockholders' Equity section of the balance sheet prepared as of the end of the current year contains errors. Stockholders' Equity Paid-in capital: Preferred 2% stock, $80 par (125,000 shares authorized and issued) $10,000,000 Excess of issue price over par 500,000 Paid-in capital, preferred stock $10,500,000 Retained earnings 96,700,000 Treasury stock (75,000 shares at cost) 1,755,000 Dividends payable 430,000 Total paid-in capital $109,385,000 Common stock, $20 par (1,000,000 shares authorized, 825,000 shares 17,655,000...
Stockholders' Equity section of balance sheet Instructions Accounts and Amount Descriptions Stockholders' Equity Instructions The following...
Stockholders' Equity section of balance sheet Instructions Accounts and Amount Descriptions Stockholders' Equity Instructions The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year. $3,073,800.00 Common stock, $47 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock 119,000.00 3 261,600.00 Retained Earnings 19,185,100.00 5 Treasury Stock 326,800.00 Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1...
Stockholders' Equity Section of Balance Sheet The following Stockholders' Equity section of the balance sheet prepared...
Stockholders' Equity Section of Balance Sheet The following Stockholders' Equity section of the balance sheet prepared as of the end of the current year contains errors. Stockholders' Equity Paid-in capital: Preferred 2% stock, $80 par (125,000 shares authorized and issued) Excess of issue price over par Paid-in capital, preferred stock Retained earnings Treasury stock (75,000 shares at cost) Dividends payable 10,000,000 500,000 $10,500,000 96,700,000 1,755,000 430,000 $109,385,000 17,655,000 300,000 Total paid-in capital Common stock, $20 par (1,000,000 shares authorized, 825,000...
Following is the stockholders’ equity section of a recent balance sheet for Portlands, Inc.: Stockholders’ Equity:...
Following is the stockholders’ equity section of a recent balance sheet for Portlands, Inc.: Stockholders’ Equity: Preferred stock, $0.01 par value, authorized shares – 100,000, issued shares – none — Common stock, $1.25 par value, authorized shares, – 400,000, issued shares – 241,764 $ 302,205 Capital in excess of par 604,410 Retained earnings 5,840,053 Accumulated other comprehensive loss (100,304) Common stock in treasury, at cost – 75,000 shares (2,647,500) Total stockholders’ equity $ 3,998,864 Verify the $302,205 balance for the...
Assume that the stockholders' equity section on the balance sheet of Dillard's, a popular department store, is shown below. During the year, the company reported net income of $463,909,000 and declared and paid dividends of $10,002,000. Current Year Last Year 118,530 117,707 Stockholders' Equity: Common stock, Class A-118,529,925 and 117,706,523 shares issued; ? and ? shares outstanding Common stock, Class B (convertible)-4,010,929 shares issued and outstanding Additional paid-in capital Retained earnings Less treasury stock, at cost, Class A- 73,099, 319...
Assume that the stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. During the year, the company reported net income of $241,115,000 and declared and paid dividends of $11,907.000. Current Year Last Year $ 1,166,000 $ 1,166,000 Stockholders' Equity: Common stock, Class A-116,630,308 and 116,575,495 shares issued; ? and ? shares outstanding Common stock, Class B (convertible)- 4,150,929 shares issued and outstanding Additional paid-in capital Retained earnings Less treasury stock, at cost, Class...
The stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. During the year, the company reported net income of $241,145,000 and declared and paid dividends of $11,917,000. Stockholders' Equity Current Year Last Year Common stock, Class A—116,670,308 and 116,515,495 shares issued; ? and ? shares outstanding 1,167,000 1,165,000 Common stock, Class B (convertible)-4,080,929 shares issued and outstanding 41,000 41,000 Additional paid-in capital 779,055,000 791,987,000 Retained earnings 2,457,727,000 Less treasury stock, at cost, Class...
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018. is as follows. $ 580,000 Stockholders' Equity Paid-in capital Preferred stock,? par value, 5% cumulative, 288,eee shares authorized, 58,000 shares issued and outstanding Connon stock, $20 stated value, 330,000 shares authorized, 58, eee?? shares issued and outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Connon Total paid-in capital Retained earnings Treasury stock, 5,eee shares Total stockholders' equity 1,160, eee...
Problem 8-25 Analyzing the stockholders' equity section of the balance sheet The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2016, is as follows. Stockholders Equity Paid-in capital 200,000 Preferred stock, ? par value, 6% cumulative, 100,000 shares authorized 10,000 shares issued and outstanding Common stock, $10 stated value, 200,000 shares authorized, 100,000 shares issued and ?? shares outstanding 1,000,000 Paid-in capital in excess of par- Preferred 25,000 Paid-in capital in 50o,000 excess of...
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018. is as follows. $540,eee Stockholders' Equity Paid-in capital Preferred stock,? par value, 5% cumulative, 150,000 shares authorized, 45,000 shares issued and outstanding Common stock, $15 stated value, 280,000 shares authorized 45,eee?? shares issued and outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Connon Total paid-in capital Retained earnings Treasury stock, 4,000 shares Total stockholders' equity 675,000 35,000 225, eee...
Stockholders' Equity Section of Balance Sheet The following Stockholders' Equity section of the balance sheet prepared as of the end of the current year contains errors. Stockholders' Equity Paid-in capital: Preferred 2% stock, $80 par (125,000 shares authorized and issued) $10,000,000 Excess of issue price over par 500,000 Paid-in capital, preferred stock $10,500,000 Retained earnings 96,700,000 Treasury stock (75,000 shares at cost) 1,755,000 Dividends payable 430,000 Total paid-in capital $109,385,000 Common stock, $20 par (1,000,000 shares authorized, 825,000 shares 17,655,000...
Stockholders' Equity section of balance sheet Instructions Accounts and Amount Descriptions Stockholders' Equity Instructions The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year. $3,073,800.00 Common stock, $47 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock 119,000.00 3 261,600.00 Retained Earnings 19,185,100.00 5 Treasury Stock 326,800.00 Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1...
Stockholders' Equity Section of Balance Sheet The following Stockholders' Equity section of the balance sheet prepared as of the end of the current year contains errors. Stockholders' Equity Paid-in capital: Preferred 2% stock, $80 par (125,000 shares authorized and issued) Excess of issue price over par Paid-in capital, preferred stock Retained earnings Treasury stock (75,000 shares at cost) Dividends payable 10,000,000 500,000 $10,500,000 96,700,000 1,755,000 430,000 $109,385,000 17,655,000 300,000 Total paid-in capital Common stock, $20 par (1,000,000 shares authorized, 825,000...
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