%24 %24 Question 16 of 20 Splish Brothers Company reported the following balances at December 31, 2019: common stock $530,000; paid-in capital in excess of par value $125,000; retained earnings $265,00O. During 2020, the following transactions affected stockholders' equity. 1. Issued preferred stock with a par value of $152,000 for $214,000. 2. Purchased treasury stock (common) for S50,000, 3. Earned net income of $130,000. 4. Declared and paid cash dividends of $65,000. Prepare the stockholders equity section of Splish Brothers Company's December 31, 2020, balance sheet. Balance Sheet (Partial) AN TA HSI7dS eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer

%24 %24 Question 16 of 20 Splish Brothers Company reported the following balances at December 31, 2019: common stock $530,000; paid-in capital in excess of par value $125,000; retained earnings $265,00O. During 2020, the following transactions affected stockholders' equity. 1. Issued preferred stock with a par value of $152,000 for $214,000. 2. Purchased treasury stock (common) for S50,000, 3. Earned net income of $130,000. 4. Declared and paid cash dividends of $65,000. Prepare the stockholders equity section of Splish Brothers Company's December 31, 2020, balance sheet. Balance Sheet (Partial) AN TA HSI7dS eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Preferred shares, $4.55 non-cumulative, 52,000 shares authorized and issued* $ 3,328,000 Common shares, 87,000 shares authorized and issued* 1,392,000 *All shares were issued during 2018. 2. Calculate the dividends paid per share to both the preferred and the common shares in 2020. (Round the final answers to 2 decimal places.)
CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Common Stock Total Stockholders' Retained Earnings Equity Beginning balance Issuances of stock Add: Net income Less: Dividends 2$ 13,000 $ 6,000 $ 19,000 4,000 4,000 Ending balance 2$ 15,000 $ 7,000 $ 22,000
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Problem 11-2A (Algo) Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity at December 31, 2019. Common stock-$15 par value, 100,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During 2020, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,500 shares of its own stock at $20 cash per share. January 5 Directors declared a $6 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 1,688 of its treasury shares at $24 cash per share. August 22 Sold 2,812 of its treasury shares at $17 cash per share. September 5 Directors declared a $6 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the…
The stockholders’ equity accounts of G.K. Chesterton Company have the following balances on December 31, 2020. Common stock, $10 par, 300,000 shares issued and outstanding $3,000,000 Paid-in capital in excess of par—common stock 1,200,000 Retained earnings 5,600,000 Shares of G.K. Chesterton Company stock are currently selling on the Midwest Stock Exchange at $37. Instructions Prepare the appropriate journal entries for each of the following cases. a. A stock dividend of 5% is declared and issued. b. A stock dividend of 100% is declared and issued. c. A 2-for-1 stock split is declared and issued.
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1. The balance sheet of Quetico Inc. reported the following at December 31, 2020: A Shareholders' Equity B C Preferred shares, $0.40, 10,000 shares authorized 2 and issued $ 100,000 3 Common shares, 100,000 shares authorized* 400,000 45 Accumulated other comprehensive income Retained earnings 224,000 476,500 6 Total shareholders' equity 7 $ 1,200,500 *The common shares were issued at a stated value of $8.00 per share. Requirements a. Are the preferred shares cumulative or non-cumulative? How can you tell? b. What is the total amount of the annual preferred dividend? c. How many common shares are outstanding? d. Compute the book value per share of the common shares. No preferred dividends are in arrears, and Quetico Inc. has not yet declared the 2020 dividend..
The equity portions of a company's balance sheets for end of 2021 and 2022 are shown below: 2021 2022 $1,898,646 $3,818,440 $2,685,439 $6,714,937 $2,547,130 $7,242,627 Calculate the average price per share at which new shares were sold in 2022. Common Stock ($0.50 par) Capital Surplus Retained Earnings 0.78 1.55 0.50 O None of these options are correct 1.05
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PART 1 EQUITY At 30 June 2021, the equity of Bourne Ltd comprised share capital of $29,880,000 (comprising 5,000,000 ordinary shares issued and paid to $6.00 per share, less share issue costs of $120,000), general reserve of $250,000, retained earnings of $2,500,000. The following transactions and events occurred during the year ending 30 June 2022: ● On 6 July 2021 a dividend of $420,000 was paid. This dividend had been declared on 29 March 2021 by the Directors from retained earnings (and had not required any further approval/authorisation). ● On 1 August 2021 the directors made a bonus share issue of 1 ordinary share issued and paid to $6.00 for every 100 shares held. This was made using the total amount in the general reserve, with the remainder from retained earnings. ● On 2 February 2022, the Directors declared and paid an interim dividend of $320,000 from retaining earnings. . On 29 June 2022, the Directors declared a dividend of 8 cents per share from retained earnings. This…
Exercise 15-18 Windsor Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 Common stock, $5 par (101,500 shares authorized, 20,300 shares issued) 101,500 Additional paid-in capital 130,000 Retained earnings 486,000 Total $897,500 During 2020, Windsor took part in the following transactions concerning stockholders’ equity. 1. Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,800 shares of its own outstanding common stock for $41 per share. Windsor uses the cost method. 3. Reissued 700 treasury shares for land valued at $31,400. 4. Issued 510 shares of preferred stock at $104 per share. 5. Declared a 10% stock dividend on the…