Common Stock. 10,000,000 Retained Earnings. 8,000,000 Net Income. 1,540,000 A - Calculate the earnings per share at a total of 1,000,000 shares of common stocks issued and outstanding. B - What is the total of the Equity section on the balance sheet as of December 31. ?
Q: What is the return on common stockholders’ equity based on the following: Beginning Common…
A:
Q: What is the total stockholders' equity based on the following account balances? Common Stock…
A: Stock holders equity : Means amount left to share holders after considering payment of all…
Q: Prepare a statement of stockholders' equity for Al-Can Products, Inc. Navigate to the Stockholders'…
A: A company's ownership stake or shareholders' equity value varies during the course of an accounting…
Q: The stockholders' equity section of Sunland Company's balance sheet consists of common stock ($8…
A: The objective of the question is to understand the impact of a stock dividend on the components of…
Q: The balance sheet caption for common stock is: Common stock, $10 par value, 7,000,000 shares…
A: We have the following information: Common Stock par value: $10 Shares Authorized: 7,000,000 Shares…
Q: What is Wayne Co.'s total stockholders' equity based on the following account balances? Common Stock…
A: Stockholder equity is a section which reported under the statement of financial position and shows…
Q: What is the total stockholders' equity based on the following account balances? Common Stock…
A: Total Stockholders Equity = Total Paid in Capital + Retained Earnings - Treasury Stock
Q: sing the following accounts and balances, prepare the “Stockholders’ Equity” section of the balance…
A: Balance sheet is the financial statement of the firm that involves the aggregate debt, liabilities,…
Q: he year-end balance sheet of Social Systems, Inc. includes the following stockholders’ equity…
A: Company means the form of business where management is separately from owner and have perpetual…
Q: The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30…
A: Stockholders’ Equity Section: It is refers to the section of the balance sheet that shows the…
Q: The year-end balance sheet of Smithfield Products includes the following stockholders’ equity…
A: Shares are issued by the company in order to fulfill its capital requirement. The common…
Q: A company with 90,695 authorized shares of $8 par common stock issued 32,813 shares at $14 per…
A: A small stock dividend is when a company issue less than 25% of outstanding shares as a stock…
Q: Sheffield Corp. has these accounts at December 31: Common Stock, $12 par, 6,000 shares issued,…
A: A stockholders’ equity section is prepared by the company to measure the total amount of capital…
Q: The stockholders' equity section of Larkspur Inc. at the beginning of the current year appears…
A: Stockholders’ equity refers to the ownership interest in the business. It is the claim of the owners…
Q: The year end balance sheet of CP, In., include the following stockholders’ equity section (with…
A: Stockholders’ equity: The claims of owners on a company’s resources, after the liabilities are paid…
Q: A corporation purchases 8,002 shares of its own $10 par common stock for $15 per share, recording it…
A: Treasury stock: Shares which are bought back by the company from the open market but not retired…
Q: What is the total stockholders equity based on the following account balances? Common stock…
A: Total stockholders equity = Common stock + Paid in capital excess of par + Retained earnings -…
Q: Company E reports the following stockholders' equity: Common Stock, 100,000 authorized, 30,000…
A: Share: A share is a document that states a proof of an ownership of a company. A share states a…
Q: What is the total stockholders' equity based on the following account balances? Common Stock…
A: Total stockholders equity = Common stock + Paid in capital in excess of par + retained earnings -…
Q: hat is the dividend per share on the preferred stock?
A: Introduction:- The following formula used to calculate dividend per share as follows:- Dividend per…
Q: List the errors in the following Stockholders' Equity section of the balance sheet prepared as of…
A: Stockholders’ Equity Section: It is refers to the section of the balance sheet that shows the…
Q: total stockholders' equity
A: Total stockholder's equity = Common Stock + Paid -In Capital in Excess of Par + Retained Earnings -…
Q: A corporation purchases 9,515 shares of its own $10 par common stock for $18 per share, recording it…
A: When a corporation purchases its own shares, those reacquired shares are called Treasury shares.…
Q: The balance sheet caption for common stock is the following: Common stock, $2 par value, 2,070, 000…
A: Given, Shares issued = 1,310,000 shares Shares outstanding = 1,050,000 shares Par value = $2 par…
Q: During the year, 10 shares were reacquired at $11 per share. How much is the total stockholders'…
A: Treasury Stock - These Stocks are those which are repurchased by the company from the stockholders…
Q: The year end balance sheet of CP, In., include the following stockholders’ equity section (with…
A: 1.Determine the number of preferred shares have been issued.
Q: The following are extracts from the financial statements for the year ended 31 January 20X3 of M:…
A: Return on capital employed is a financial ratio which is used by stakeholders to determine the…
Q: The year-end balance sheet of Manor, Inc., includes the following stockholders’ equity section(with…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: From this information, I must compute the answers to the following question. 1. What is the amount…
A: Requirement 2: Determine the number of preferred shares have been issued.
Q: 12)What is the total stockholders' equity based on the following account balances? Common Stock…
A: Stockholder equity is a section which reported under the statement of financial position and shows…
Step by step
Solved in 3 steps with 2 images
- Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: A. Issued 15,000 shares of 20 par common stock at 30, receiving cash. B. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. C. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. D. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. E. Paid the cash dividends declared in (D). F. Purchased 8,000 shares of treasury common stock at 33 per share. G. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. H. Paid the cash dividends to the preferred stockholders. I. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (F). J. Recorded the payment of semiannual interest on the bonds issued in (C) and the amortization of the premium for six months. The amortization is determined using the straight-line method. Instructions 1. Journalize the selected transactions. 2. After all of the transactions for the year ended December 31, 20Y8, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follow were taken from the records of Equinox Products Inc. Income statement data: Advertising expense 150,000 Cost of goods sold 3,700,000 Delivery expense 30,000 Depreciation expenseoffice buildings and equipment 30,000 Depreciation expensestore buildings and equipment 100,000 Income tax expense 140,500 Interest expense 21,000 Interest revenue 30,000 Miscellaneous administrative expense 7,500 Miscellaneous selling expense 14,000 Office rent expense 50,000 Office salaries expense 170,000 Office supplies expense 10,000 Sales 5,313,000 Sales commissions 185,000 Sales salaries expense 385,000 Store supplies expense 21,000 Retained earnings and balance sheet data: Accounts payable 194,300 Accounts receivable 545,000 Accumulated depreciationoffice buildings and equipment 1,580,000 Accumulated depreciationstore buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Bonds payable, 5%, due in 10 years 500,000 Cash 282,850 Common stock, 20 par (400,000 shares authorized; 100,000 shares issued, 94,600 outstanding) 2,000,000 Dividends: Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Goodwill 700,000 Income tax payable 44,000 Interest receivable 1,200 Inventory (December 31, 20Y8),at lower of cost (FIFO) or market 778,000 Office buildings and equipment 4,320,000 Paid-in capital from sale of treasury stock 13,000 Excess of issue price over parcommon stock 886,800 Excess of issue price over parpreferred stock 150,000 Preferred 5% stock, 80 par (30,000 shares authorized; 20,000 shares issued) 1,600,000 Premium on bonds payable 19,000 Prepaid expenses 27,400 Retained earnings, January 1, 20Y8 8,197,220 Store buildings and equipment 12,560,000 Treasury stock (5,400 shares of common stock at cost of 33 per share) 178,200 A. Prepare a multiple-step income statement for the year ended December 31, 20Y8. B. Prepare a retained earnings statement for the year ended December 31, 20Y8. C. Prepare a balance sheet in report form as of December 31, 20Y8.Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. The bonds are classified as a held-to-maturity long -term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method . q. Accrued interest for three months on the Dream Inc. bonds purchased in (I). r. Pinkberry Co. recorded total earnings of 240 ,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39. 02 per share on December 31, 2016. The investment is adjusted to fair value , using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. ( Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016.Calculating the Average Common Stockholders’ Equity andthe Return on Stockholders’ EquityRefer to the information for Somerville Company on the previous pages.Required:Note: Round answers to four decimal places.1. Calculate the average common stockholders’ equity.2. Calculate the return on stockholders’ equity
- What is the total stockholders' equity based on the following account balances? Common Stock $104,000 Paid-In Capital in Excess of Par 505,000 Retained Earmings 193,000 Treasury Stock 44,000 Oa. $802,000 OD $846,000 OC $758,000 Od. S609,00031. Closed the credit balance of the income summary account, $269,400. 2. Journalize the entries to record the transactions, and post to the eight selected Treasury Stock; Stock Dividends Distributable; Stock Dividends; Cash Dividends. listed. Also prepare T accounts for the following: Paid-In Capital from Sale cf July 1. Declared a 4% stock dividend on common stock, to be capitalized at the 1. Enter the January 1 balances in T accounts for the stockholders' equity accounts FROBLEM 12-4B Btries for selected oporate transactions Objectives 4, 5, 7, 8 Shoshone Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Shoshone Enterprises Inc., with balances on January 1, 2006, are as follows: Common Stock, $20 stated value (100,000 shares authorized, 75,000 shares issued) Paid-In Capital in Excess of Stated Value Retained Earnings.. Treasury Stock (5,000 shares, at cost) $1,500,000 180,000 725,000 140,000 ADNET ASS The following selected transactions occurred…Vv.2.
- The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: $ 3,060,000 Common Stock, $45 par ... Paid-In Capital from Sale of Treasury Stock. Paid-In Capital in Excess of Par-Common Stock. 115,000 272,000 Retained Earnings 20,553,000 Treasury Stock.... 324,000 Prepare the Stockholders’ Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 9,000 shares have been reacquired.What is the total stockholders' equity based on the following account balances? Common Stock $375,000 Paid-In Capital in Excess of Par 90,000 Retained Eamings 190,000 15,000 Treasury Stock a. S655,000 b. 8640.000 C. S565 000 d. s670,000A & B
- price of common shares is $30, what is the price-earnings ratio on common stock for Year 2? (Round intermediate computation to two decimal places and final answer to one decimal place.) Oa. 13.4Can you show how to prepare the "Stockholders' Equity" section of the December 31, 20Y6, balance sheet.Presented below is information related to a company at the beginning of the year: Common Stock, $10 par $6,700 Retained Earnings 4,700 During the year, 10 shares were reacquired at $11 per share. How much is the total stockholders' equity after the treasury stock transaction, assuming the company accounts for treasury stock under the cost method?