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Cal Cookie Company (CCC) has 100 million shares of $1 par common stock authorized. The transactions...
1. Cal Cookie Company (CCC) has 100 million shares of $1 par common stock authorized. The...
1. Cal Cookie Company (CCC) has 100 million shares of $1 par common stock authorized. The transactions below caused changes in CCC's outstanding shares. January 4, Repurchased and retired 2.20 million shares at 2018: $7.80 per share. 25, Repurchased and retired 3.20 million shares at 2018: $3.20 per share. June Prior to the transactions, CCC's shareholders' equity included the following: Common stock, 79.80 million shares at S 79.800.000 $1 par Paid-in capital - excess of par 255,360,000 Retained earnings 118,000,000...
TB Problem 18-155 (Algo) Cal Cookie Company (CCC) has 100 million shares of $1 par common...
TB Problem 18-155 (Algo) Cal Cookie Company (CCC) has 100 million shares of $1 par common stock authorized. The transactions below caused changes in CCC's outstanding shares January 4, 2021: Repurchased and retired 2.40 million shares at $7.60 per share. June 25, 2021: Repurchased and retired 3.40 million shares at $3.40 per share. Prior to the transactions, CCC's shareholders' equity included the following: Common stock, 79.60 million shares at $1 par Paid in capital-excess of par Retained earnings $ 79,600,000...
Borner Communications’ articles of incorporation authorized the issuance of 180 million common shares. The transactions described...
Borner Communications’ articles of incorporation authorized the issuance of 180 million common shares. The transactions described below effected changes in Borner’s outstanding shares. Prior to the transactions, Borner’s shareholders’ equity included the following: Shareholders' Equity ($ in millions) Common stock, 165 million shares at $1 par 165 Paid-in capital—excess of par 495 Retained earnings 275 Required: Assuming that Borner Communications retires shares it reacquires (restores their status to that of authorized but unissued shares), record the appropriate journal entry for...
Borner Communications’ articles of incorporation authorized the issuance of 125 million common shares. The transactions described...
Borner Communications’ articles of incorporation authorized the issuance of 125 million common shares. The transactions described below effected changes in Borner’s outstanding shares. Prior to the transactions, Borner’s shareholders’ equity included the following: Shareholders’ Equity ($ in millions) Common stock, 105 million shares at $1 par $ 105 Paid-in capital – excess of par 315 Retained earnings 295 Required: Assuming that Borner Communications retires shares it reacquires (restores their status to that of authorized but unissued shares), record the appropriate...
Company Z has 2.5 million shares of common stock authorized with a par value of $1...
Company Z has 2.5 million shares of common stock authorized with a par value of $1 and a market price of $60. There are 1.25 million outstanding shares and 0.3125 million shares held in treasury stock. Required: a. Prepare the journal entry if the company declares and distributes a 10% stock dividend. b. Show the effect of the 10% stock dividend on assets, liabilities, and stockholders' equity. c. Prepare the journal entry if the company declares and distributes a 100%...
Case A: The charter for Rogers, Incorporated, authorized the following stock: Common stock, $10 par value,...
Case A: The charter for Rogers, Incorporated, authorized the following stock: Common stock, $10 par value, 109,000 shares authorized Preferred stock (noncumulative), 9 percent, $8 par value, 4,600 shares authorized The company sold 43,000 shares of common stock and 3,600 shares of preferred stock. During the year, the following selected transactions were completed in the order given: Required: 1. Rogers declared and paid dividends in the amount of $16,000. How much was paid to the holders of preferred stock? How...
The following information pertains to JAE Corp. at January 1, Year 1: Common stock, $10 par, 14,...
The following information pertains to JAE Corp. at January 1, Year 1: Common stock, $10 par, 14,000 shares authorized, 2,800 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $28,000 14,500 64,400 JAE Corp. completed the following transactions during Year 1: 1. Issued 750 shares of $10 par common stock for $31 per share. 2. Repurchased 160 shares of its own common stock for $28 per share. 3. Resold 50 shares of treasury stock for...
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value...
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $17 per share. February 6 Issues 1,200 shares of 8% preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $22 per share. December 15 Resells 5,000 shares of treasury stock at $27 per...
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common....
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2018, 350 shares of preferred stock and 4,500 shares of common stock have been issued. The following transactions affect stockholders’ equity during 2018: March 1 Issues 1,600 shares of common stock for $47 per share. May 15 Purchase 450 shares of treasury stock for $40 per share. July 10 Reissues 250 shares of treasury stock purchased on May 15...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 280 million shares of its $1 par common stock at $28 per share Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western...
1. Cal Cookie Company (CCC) has 100 million shares of $1 par common stock authorized. The transactions below caused changes in CCC's outstanding shares. January 4, Repurchased and retired 2.20 million shares at 2018: $7.80 per share. 25, Repurchased and retired 3.20 million shares at 2018: $3.20 per share. June Prior to the transactions, CCC's shareholders' equity included the following: Common stock, 79.80 million shares at S 79.800.000 $1 par Paid-in capital - excess of par 255,360,000 Retained earnings 118,000,000...
TB Problem 18-155 (Algo) Cal Cookie Company (CCC) has 100 million shares of $1 par common stock authorized. The transactions below caused changes in CCC's outstanding shares January 4, 2021: Repurchased and retired 2.40 million shares at $7.60 per share. June 25, 2021: Repurchased and retired 3.40 million shares at $3.40 per share. Prior to the transactions, CCC's shareholders' equity included the following: Common stock, 79.60 million shares at $1 par Paid in capital-excess of par Retained earnings $ 79,600,000...
Company Z has 2.5 million shares of common stock authorized with a par value of $1 and a market price of $60. There are 1.25 million outstanding shares and 0.3125 million shares held in treasury stock. Required: a. Prepare the journal entry if the company declares and distributes a 10% stock dividend. b. Show the effect of the 10% stock dividend on assets, liabilities, and stockholders' equity. c. Prepare the journal entry if the company declares and distributes a 100%...
Case A: The charter for Rogers, Incorporated, authorized the following stock: Common stock, $10 par value, 109,000 shares authorized Preferred stock (noncumulative), 9 percent, $8 par value, 4,600 shares authorized The company sold 43,000 shares of common stock and 3,600 shares of preferred stock. During the year, the following selected transactions were completed in the order given: Required: 1. Rogers declared and paid dividends in the amount of $16,000. How much was paid to the holders of preferred stock? How...
The following information pertains to JAE Corp. at January 1, Year 1: Common stock, $10 par, 14,000 shares authorized, 2,800 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $28,000 14,500 64,400 JAE Corp. completed the following transactions during Year 1: 1. Issued 750 shares of $10 par common stock for $31 per share. 2. Repurchased 160 shares of its own common stock for $28 per share. 3. Resold 50 shares of treasury stock for...
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $17 per share. February 6 Issues 1,200 shares of 8% preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $22 per share. December 15 Resells 5,000 shares of treasury stock at $27 per...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 280 million shares of its $1 par common stock at $28 per share Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western...
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