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The statement of retained earnings of Gary Larson Publishers is presented below. $215 88 GARY LARSON...
Shown below in T-account format are the changes affecting the retained earnings of Forge Corporation during...
Shown below in T-account format are the changes affecting the retained earnings of Forge Corporation during 2018. At January 1 2018, the corporation had outstanding 107 million common shares, $1 par per share. Retained Earnings ($ in millions) Beginning balance 92 Retirement of 7 million common shares for $21 million Net income for the year 81 Declaration and payment of a $e.35 per share cash dividend Declaration and distribution of a 4% stock dividend 35 24 110 Ending balance Required:...
Exercise 11-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander...
Exercise 11-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 60,008 shares authorized, 35, eee shares issued and outstanding Paid-in capital in excess of par value, connon stock Retained earnings S 875,000 70,000 357,e0e Total stockholders equity $1,302,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,5ee shares of its own stock...
Exercise 18-17 (Algo) Transactions affecting retained earnings [LO18-6, 18-7] Shown below in T-account format are the...
Exercise 18-17 (Algo) Transactions affecting retained earnings [LO18-6, 18-7] Shown below in T-account format are the changes affecting the retained earnings of Brenner Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 108 million common shares, $1 par per share. Retained Earnings (5 in millions) Beginning balance Retirement of million common shares for 93 522 million 5 82 Net Income for the year 36 Declaration and payment of a 50.36 per share cash dividend Declaration and distribution...
[The following information applies to the questions displayed below.] At the beginning of Year 2, Oak...
[The following information applies to the questions
displayed below.]
At the beginning of Year 2, Oak Consulting had the following normal
balances in its accounts:
Account
Balance
Cash
$
31,800
Accounts receivable
20,900
Accounts payable
14,900
Common stock
23,900
Retained earnings
13,900
The following events apply to Oak Consulting for Year 2:
Provided $65,500 of services on account.
Incurred $3,500 of operating expenses on account.
Collected $46,800 of accounts receivable.
Paid $39,100 cash for salaries expense.
Paid $16,560 cash as...
The year-end adjusted trial balance of Aggles Corporation Included the following account balances: Retained Earnings, $222,000;...
The year-end adjusted trial balance of Aggles Corporation Included the following account balances: Retained Earnings, $222,000; Service Revenue, $860,000; Salarles Expense, $382,000; Rent Expense, $142,000; Interest Expense, $77,000; and Dividends, $52,000. Record the necessary closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet < 1 2 3 > Record the entry to close revenue accounts. Note: Enter debits before credits. Date December 31...
Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of...
Required:
1. Prepare journal entries to record each of these
transactions.
2. Prepare a statement of retained earnings for
the year ended December 31, 2019.
3. Prepare the stockholders’ equity
Please answer in this format, THANK YOU!!
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$15 par value, 100,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 900,000 70,000 370,000...
Required information [The following information applies to the questions displayed below.] Donnie Hilfiger has two clas...
Required information [The following information applies to the questions displayed below.] 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 3,400 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 1,100 shares of common stock for $36 per share. May 15 Purchase 400 shares of treasury stock for $29 per share. July...
Required information [The following information applies to the questions displayed below.] Donnie Hilfiger has two classes...
Required information [The following information applies to the questions displayed below.] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 490 shares of preferred stock and 5,900 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 3,000 shares of common stock for $61 per share. May 15 Purchase 590 shares of treasury stock for $54 per share. July...
Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$25 par...
Kohler Corporation reports the following components of
stockholders’ equity at December 31, 2018.
Common stock—$25 par value, 100,000 shares authorized,
60,000 shares issued and outstanding
$
1,500,000
Paid-in capital in excess of par value, common stock
80,000
Retained earnings
370,000
Total stockholders' equity
$
1,950,000
During 2019, the following transactions affected its stockholders’
equity accounts.
Jan.
2
Purchased 4,500 shares of its own stock at $20 cash per
share.
Jan.
5
Directors declared a $6 per share cash dividend payable...
The adjusted trial balance for China Tea Company at December 31, 2021 is presented below: Credit...
The adjusted trial balance for China Tea Company at December 31, 2021 is presented below: Credit Debit $19,000 154,000 6,000 26,000 310,000 Accounts Cash Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable Salaries payable Interest payable Notes payable - due in two years Common stock Retained earnings Dividends Service revenue Salaries expense Advertising expense Rent expense Depreciation expense Interest expense Utilities expense Totals $ 128,000 17,000 3,700 1,900 27,000 180,000 97,100 26,000 440,000 186,000 79,000 15,000 32,000 2,700...
Shown below in T-account format are the changes affecting the retained earnings of Forge Corporation during 2018. At January 1 2018, the corporation had outstanding 107 million common shares, $1 par per share. Retained Earnings ($ in millions) Beginning balance 92 Retirement of 7 million common shares for $21 million Net income for the year 81 Declaration and payment of a $e.35 per share cash dividend Declaration and distribution of a 4% stock dividend 35 24 110 Ending balance Required:...
Exercise 11-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 60,008 shares authorized, 35, eee shares issued and outstanding Paid-in capital in excess of par value, connon stock Retained earnings S 875,000 70,000 357,e0e Total stockholders equity $1,302,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,5ee shares of its own stock...
Exercise 18-17 (Algo) Transactions affecting retained earnings [LO18-6, 18-7] Shown below in T-account format are the changes affecting the retained earnings of Brenner Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 108 million common shares, $1 par per share. Retained Earnings (5 in millions) Beginning balance Retirement of million common shares for 93 522 million 5 82 Net Income for the year 36 Declaration and payment of a 50.36 per share cash dividend Declaration and distribution...
[The following information applies to the questions
displayed below.]
At the beginning of Year 2, Oak Consulting had the following normal
balances in its accounts:
Account
Balance
Cash
$
31,800
Accounts receivable
20,900
Accounts payable
14,900
Common stock
23,900
Retained earnings
13,900
The following events apply to Oak Consulting for Year 2:
Provided $65,500 of services on account.
Incurred $3,500 of operating expenses on account.
Collected $46,800 of accounts receivable.
Paid $39,100 cash for salaries expense.
Paid $16,560 cash as...
The year-end adjusted trial balance of Aggles Corporation Included the following account balances: Retained Earnings, $222,000; Service Revenue, $860,000; Salarles Expense, $382,000; Rent Expense, $142,000; Interest Expense, $77,000; and Dividends, $52,000. Record the necessary closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet < 1 2 3 > Record the entry to close revenue accounts. Note: Enter debits before credits. Date December 31...
Required:
1. Prepare journal entries to record each of these
transactions.
2. Prepare a statement of retained earnings for
the year ended December 31, 2019.
3. Prepare the stockholders’ equity
Please answer in this format, THANK YOU!!
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$15 par value, 100,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 900,000 70,000 370,000...
Required information [The following information applies to the questions displayed below.] 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 3,400 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 1,100 shares of common stock for $36 per share. May 15 Purchase 400 shares of treasury stock for $29 per share. July...
Required information [The following information applies to the questions displayed below.] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 490 shares of preferred stock and 5,900 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 3,000 shares of common stock for $61 per share. May 15 Purchase 590 shares of treasury stock for $54 per share. July...
Kohler Corporation reports the following components of
stockholders’ equity at December 31, 2018.
Common stock—$25 par value, 100,000 shares authorized,
60,000 shares issued and outstanding
$
1,500,000
Paid-in capital in excess of par value, common stock
80,000
Retained earnings
370,000
Total stockholders' equity
$
1,950,000
During 2019, the following transactions affected its stockholders’
equity accounts.
Jan.
2
Purchased 4,500 shares of its own stock at $20 cash per
share.
Jan.
5
Directors declared a $6 per share cash dividend payable...
The adjusted trial balance for China Tea Company at December 31, 2021 is presented below: Credit Debit $19,000 154,000 6,000 26,000 310,000 Accounts Cash Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable Salaries payable Interest payable Notes payable - due in two years Common stock Retained earnings Dividends Service revenue Salaries expense Advertising expense Rent expense Depreciation expense Interest expense Utilities expense Totals $ 128,000 17,000 3,700 1,900 27,000 180,000 97,100 26,000 440,000 186,000 79,000 15,000 32,000 2,700...
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