Concord Corporation's December 31, 2018 balance sheet showed the following: 9% preferred stock, $20 par value, cumulative, 11000 shares authorized; 8500 shares issued $ 170000 Common stock, $10 par value, 900000 shares authorized; 875000 shares issued, 860000 shares outstanding 8750000 Paid-in capital in excess of par-preferred stock 31500 Paid-in capital in excess of par-common stock 13500000 Retained earnings 3700000 Treasury stock (15000 shares) 330000 Concord declared and paid a $58600 cash dividend on December 15, 2018. If the company's dividends in arrears prior to that date were $10000, Concord's common stockholders received $48600. $33300. $19300. no dividend.

Concord Corporation's December 31, 2018 balance sheet showed the following: 9% preferred stock, $20 par value, cumulative, 11000 shares authorized; 8500 shares issued $ 170000 Common stock, $10 par value, 900000 shares authorized; 875000 shares issued, 860000 shares outstanding 8750000 Paid-in capital in excess of par-preferred stock 31500 Paid-in capital in excess of par-common stock 13500000 Retained earnings 3700000 Treasury stock (15000 shares) 330000 Concord declared and paid a $58600 cash dividend on December 15, 2018. If the company's dividends in arrears prior to that date were $10000, Concord's common stockholders received $48600. $33300. $19300. no dividend.

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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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 the stockholders' equity. Preferred Stock, 148,200 shares $2,964,000 Common Stock, 1,991,000 shares 9,955,000 Paid-in Capital in Excess of Par--Preferred Stock 207,000 Paid-in Capital in Excess of Par--Common Stock 26,478,000 Retained Earnings 4,495,000 The following transactions affected stockholders' equity during 2026. Jan. 1 29,200 shares of preferred stock issued at $23 per share. Feb. 1 46,100 shares of common stock issued at $21 per share. June 1 2-for-1 stock split (par value reduced to $2.50). July 1 28,900 shares of common treasury stock purchased at $10 per share. Blossom uses the cost method. Sept.15 9,200 shares of treasury stock reissued at $12 per share. Dec. 31 The preferred dividend is declared, and a common dividend of 53 cents per share is declared. Dec. 31 Net income is $2,138,000. Prepare the stockholders'…
bBramble Corporation’s December 31, 2020 balance sheet showed the following: 7% preferred stock, $20 par value, 18300 shares authorized; 13300 shares issued $ 266000 Common stock, $10 par value, 1930000 shares authorized; 1880000 shares issued, 1860000 shares outstanding 18800000 Paid-in capital in excess of par—preferred stock 59500 Paid-in capital in excess of par—common stock 24900000 Retained earnings 7670000 Treasury stock (19800 shares) 623700 Bramble’s total stockholders’ equity was $44051800. $51695500. $52331800. $51071800.
Metlock Corporation's December 31, 2020 balance sheet showed the following: 6% preferred stock, $20 par value, cumulative, 35000 shares authorized; 19000 shares issued $ 380000 Common stock, $10 par value, 3,000,000 shares authorized; 1,950,000 shares issued, 1,920,000 shares outstanding 19500000 Paid-in capital in excess of par value - preferred stock 66000 Paid-in capital in excess of par value - common stock 27900000 Retained earnings 8950000 Treasury stock (30,000 shares) 525000 Metlock's total paid-in capital was $48371000. $47846000. $27946000. $47321000.
asap Bramble Corporation’s December 31, 2020 balance sheet showed the following: 7% preferred stock, $20 par value, 18300 shares authorized; 13300 shares issued $ 266000 Common stock, $10 par value, 1930000 shares authorized; 1880000 shares issued, 1860000 shares outstanding 18800000 Paid-in capital in excess of par—preferred stock 59500 Paid-in capital in excess of par—common stock 24900000 Retained earnings 7670000 Treasury stock (19800 shares) 623700 Bramble’s total stockholders’ equity was $44051800. $51695500. $52331800. $51071800.
The stockholders' equity accounts of Skysong, Inc. on January 1, 2022, were as follows. Preferred Stock (8%, $50 par, cumulative, 10,500 shares authorized) Common Stock ($1 stated value, 1,900,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (10,500 common shares) $400,000 1,250,000 135,000 1,400,000 1,800,000 52,500 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 25,000 shares of common stock for $121,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $32,800. Sept. 3 Issued 5,000 shares of common stock for a patent valued at $34,200. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5,900. Dec. 31 Determined that net income for the year was $410,000. No dividends were declared during the year. Tul Journalize the transactions and the closing entry for net income.…
The stockholders' equity section of Blue Spruce Corp, as of December 31, 2017 is as follows: 9% preferred stock, $ 100 par value, authorized 100,000 shares, outstanding 62,000 shares $ 6,200,000 Common stock, $ 1 par, authorized and issued 6,300,000 shares 6,300,000 Additional paid-in capital 78,400,000 Retained earnings 406,600,000 $ 497,500,000 Net income was $ 14,240,000 in 2017. This net income figure reflects a total effective tax rate of 35%. Included in the net income figure is a $5,000,000 (before tax) loss from an earthquake centered in a city where Blue Spruce has a warehouse. Earthquakes are rare in that city. Preferred stock dividends of $ 558,000 were declared and paid in 2017. Blue Spruce Corp. declared and paid dividends of $ 3,030,000 to common stockholders in 2017. Compute earnings per share data as it should appear on the income statement of Blue Spruce Corporation. (Round answers to 2 decimal places, e.g. 1.48.) Earnings Per Share Net Income / (Loss) %24
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The Stockholders' Equity accounts of ExxonMobil on December 31, 2022 were as follows: Preferred Stock ( 6%, $100 par, cumulative, 800 authorized) $720,000 Common Stock ( $3 par, 1,500,000 authorized) $1,080,000 (360000 Common Stock) APIC - Preferred Stock $108,000 APIC - Common Stock $840,000 Retained Earnings $936,000 Treasury Stock - Common ($9 cost) 54,000 During 2023, ExxonMobil had the following transactions and events pertaining to its stockholders' equity: March 21: Issued 24,000 shares of Common Stock in exchange for Land. On the date of purchase, the Land had a Fair Market Value of $252,000 and the stock was selling for $11 per share. April 17: Sold 1,800 shares of Treasury Stock - Common for $12 per share. November 22: Purchased 800 shares of Common Stock for the Treasury at a cost of $7,600. December 31: Determine that net income for the year was $555,600. Dividends were declared and paid during December. These dividends included a $0.20 per share dividend to common…
The stockholders' equity section of Waterway Corporation appears below as of December 31, 2025. 8% preferred stock, $50 par value, authorized 114,400 shares, outstanding 104,400 shares Common stock, $1.00 par, authorized and issued 10,000,000 shares Additional paid-in capital Retained earnings (includes 2025 net income of $38.280,000) Total stockholders' equity $5,220,000 10,000,000 23,780,000 193,720,000 232.720,000 Earnings per share. Net income for 2025 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of $20,880,000 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $417,600 were declared and paid in 2025. Dividends of $1,160,000 were declared and paid to common stockholders in 2025, Compute earnings per share data as it should appear on the income statement of Waterway Corporation. (Round answers to 2 decimal places, e.g. 1.48.) ...
Bacon Inc. has the following stockholders’ equity section in its May 31, 2019, comparative balance sheets: May 31, 2019 April 30, 2019 Paid-in capital: Preferred stock, $120 par value, 9%, cumulative, 200,000 shares authorized, 140,000 shares issued and outstanding $ 16,800,000 $ 16,800,000 Common stock, $5 par value, 1,000,000 shares authorized, 600,000 and 540,000 shares issued, respectively ? 2,700,000 Additional paid-in capital 26,100,000 23,220,000 Retained earnings 36,200,000 34,640,000 Less: Treasury common stock, at cost; 72,000 shares and 68,000 shares, respectively (4,412,000 ) (4,148,000 ) Total stockholders' equity $ ? $ 73,212,000 Assume that on June 1 the board of directors declared a cash dividend of $0.60 per share on the outstanding shares of common stock. The dividend will be payable on July 15 to stockholders of record on June 15.e-1. Calculate the total amount of the dividend.
The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders’ equity 12/31/2021 12/31/2020 Common stock, $5 par; 20 million shares authorized; 15 million shares issued and 9 million shares outstanding at 12/31/2021; and ____ million shares issued and ____ shares outstanding at 12/31/2020. $ 75 million $ 45 million Additional paid-in capital on common stock 520 million 392 million Retained earnings 197 million 157 million Treasury common stock, at cost, 6 million shares at 12/31/2021 and 4 million shares at 12/31/2020 (72 million) (50 million) Total shareholders’ equity $ 720 million $ 544 million What was the average price (rounded to the nearest dollar) of the additional shares issued by Levi in 2021? Multiple Choice $39 per share. Cannot be determined from the given information. $26 per share. $5 per share.