points) On January 1, 2019, the accounts of GHI showed the following:Common stock, par $1, authorized 100,000sharesAdditional paid-in capital (at $2 per share)Retained earnings60,000140,000During 2019, the following transactions occurred which affected stockholders' equity (in the order given):Issued a 100% stock dividend when the marketA. price was at $5 per share.Purchased treasury stock, 1,000 shares, at a totalB. cost of $8,000.c. Declared and paid cash dividends, $15,000.D. Net income for 2019, $25,000.Required:The stockholders' equity section of the balance sheet for the company must be prepared for the December 31, 2019balance sheet. The format is provided below with certain amounts missing. Supply the missing amounts by enteringthem in the blanks or providing a list with your answers labeled la, 1b, 2, 3, 4, 5, 6 and 7.GHI CorporationStockholders' Equity (Partial Balance Sheet)December 31, 2019Common stock, par $1, 100,000 authorized shares,|(1a)|(1b)shares issuedshares outstanding(2)Additional paid-in capital|(3)$.Retained earnings|(4)(5)Treasury stock,shares, at cost(6)$.Total stockholders' equity|(7)

Solution: Common stock, par $1, authorized shares 100,000, shares issued 60000 $60,000 Capital…

Answered: Common stock, par $1, authorized…

Common stock, par $1, authorized 100,000 shares Additional paid-in capital (at $2 per share) Retained earnings 60,000 140,000

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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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

100%

points) On January 1, 2019, the accounts of GHI showed the following:
Common stock, par $1, authorized 100,000
shares
Additional paid-in capital (at $2 per share)
Retained earnings
60,000
140,000
During 2019, the following transactions occurred which affected stockholders' equity (in the order given):
Issued a 100% stock dividend when the market
A. price was at $5 per share.
Purchased treasury stock, 1,000 shares, at a total
B. cost of $8,000.
c. Declared and paid cash dividends, $15,000.
D. Net income for 2019, $25,000.
Required:
The stockholders' equity section of the balance sheet for the company must be prepared for the December 31, 2019
balance sheet. The format is provided below with certain amounts missing. Supply the missing amounts by entering
them in the blanks or providing a list with your answers labeled la, 1b, 2, 3, 4, 5, 6 and 7.
GHI Corporation
Stockholders' Equity (Partial Balance Sheet)
December 31, 2019
Common stock, par $1, 100,000 authorized shares,
|(1a)
|(1b)
shares issued
shares outstanding
(2)
Additional paid-in capital
|(3)
$.
Retained earnings
|(4)
(5)
Treasury stock,
shares, at cost
(6)
$.
Total stockholders' equity
|(7)

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