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Bonita Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2025, the following accounts were included in stockholders' equity. Preferred Stock, 148,100 shares Common Stock, 1,961,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings Jan. 1 Feb. 1 June 1 July 1 Sept. 15 Dec. 31 $2,962,000 The following transactions affected stockholders' equity during 2026. Dec. 31 9,805,000 191,000 27,124,000 4,537,000 28,400 shares of preferred stock issued at $24 per share. 53,400 shares of common stock issued at $20 per share. 2-for-1 stock split (par value reduced to $2.50). 31,100 shares of common treasury stock purchased at $10 per share. Bonita uses the cost method. 9,900 shares of treasury stock reissued at $11 per share. The preferred dividend is declared, and a common dividend of 54¢ per share is declared. Net income is $2,093,000.

Bonita Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2025, the following accounts were included in stockholders' equity. Preferred Stock, 148,100 shares Common Stock, 1,961,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings Jan. 1 Feb. 1 June 1 July 1 Sept. 15 Dec. 31 $2,962,000 The following transactions affected stockholders' equity during 2026. Dec. 31 9,805,000 191,000 27,124,000 4,537,000 28,400 shares of preferred stock issued at $24 per share. 53,400 shares of common stock issued at $20 per share. 2-for-1 stock split (par value reduced to $2.50). 31,100 shares of common treasury stock purchased at $10 per share. Bonita uses the cost method. 9,900 shares of treasury stock reissued at $11 per share. The preferred dividend is declared, and a common dividend of 54¢ per share is declared. Net income is $2,093,000.

FINANCIAL ACCOUNTING
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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Capital Stock Preferred Stock Common Stock Total Capital Stock Additional Paid-in Capital Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Par - Common Stock Paid-in Capital from Treasury Stock Total Paid-in Capital Show Transcribed Text Retained Earnings Total Paid-in Capital and Retained Earnings Less: Treasury Stock Total Stockholders' Equity BONITA COMPANY Stockholders' Equity December 31, 2026 ņ $
Transcribed Image Text:Capital Stock Preferred Stock Common Stock Total Capital Stock Additional Paid-in Capital Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Par - Common Stock Paid-in Capital from Treasury Stock Total Paid-in Capital Show Transcribed Text Retained Earnings Total Paid-in Capital and Retained Earnings Less: Treasury Stock Total Stockholders' Equity BONITA COMPANY Stockholders' Equity December 31, 2026 ņ $
Bonita Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2025, the following accounts were included in stockholders' equity. Preferred Stock, 148,100 shares Common Stock, 1,961,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings Jan. 1 Feb. 1 June 1 July 1 Sept. 15 The following transactions affected stockholders' equity during 2026. Dec. 31 $2,962,000 Dec. 31 9,805,000 191,000 27,124,000 4,537,000 28,400 shares of preferred stock issued at $24 per share. 53,400 shares of common stock issued at $20 per share. 2-for-1 stock split (par value reduced to $2.50). 31,100 shares of common treasury stock purchased at $10 per share. Bonita uses the cost method. 9,900 shares of treasury stock reissued at $11 per share. The preferred dividend is declared, and a common dividend of 54¢ per share is declared. Net income is $2,093,000.
Transcribed Image Text:Bonita Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2025, the following accounts were included in stockholders' equity. Preferred Stock, 148,100 shares Common Stock, 1,961,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings Jan. 1 Feb. 1 June 1 July 1 Sept. 15 The following transactions affected stockholders' equity during 2026. Dec. 31 $2,962,000 Dec. 31 9,805,000 191,000 27,124,000 4,537,000 28,400 shares of preferred stock issued at $24 per share. 53,400 shares of common stock issued at $20 per share. 2-for-1 stock split (par value reduced to $2.50). 31,100 shares of common treasury stock purchased at $10 per share. Bonita uses the cost method. 9,900 shares of treasury stock reissued at $11 per share. The preferred dividend is declared, and a common dividend of 54¢ per share is declared. Net income is $2,093,000.
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