Homework Answers
Balance sheet (partial)
Stockholders' equity section
|
Common stock $5 par, 750,000 shares authorized, 300,000 shares issued and 250,000 shares outstanding |
1,500,000 |
|
Additional paid in capital - Common stock |
2,250,000 |
|
Preferred stock, $10 par, 40,000 shares authorized, 8,000 shares authorized and outstanding |
80,000 |
|
Additional paid in capital - Preferred stock |
50,000 |
| Total paid in capital | 3,880,000 |
|
Retained earnings |
1,837,000 |
| Total paid in capital and Retained earnings | 5,717,000 |
|
Treasury stock |
- 1,200,000 |
|
Total stockholders' equity |
$4,517,000 |
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$5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized 750,000 40,000 Issued...
Preferred Stock: 10%, $200 par value; 7,000 shares authorized; 3,200 shares issued and outstanding; Paid-in Capital...
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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...
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Common Stock (.10 par, 15,000 shares authorized, 2000 shares issued and outstanding $ 200 Paid-In Capital...
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Preferred stock- $25 par value, 10,eee shares authorized, 6,800 shares issued and outstanding Common stock-$10 par...
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Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par...
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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...
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 $...
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Common Stock (.10 par, 15,000 shares authorized, 2000 shares issued and outstanding $ 200 Paid-In Capital in Excess of Par $49,000 Retained Earnings $28,000 Treasury Stock $15.000 What is the total stockholders' equity based on the above account balances? $62,200 O $28,000 none of the above $92200 Next → DOLL
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...
Preferred stock- $25 par value, 10,eee shares authorized, 6,800 shares issued and outstanding Common stock-$10 par value, 100,00e shares authorized, 80,0e0 shares issued and outstanding Total paid-in' capital Retained earnings Total stockholders' equity $ 170, eee 800,e00 $ 970,000 550,e00 $1,520,000 The number of issued and outstanding shares of both preferred and common stock have been the same for the last two years Dividends on preferred stock are 8 percent of par value and have been paid each year the...
Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 800,000 256,000 928,000 $1,984,000 1. Prepare Journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock at $33 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $39 cash per share. c. Sold all remaining treasury shares on November 25 for...
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