CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Common Stock Total Stockholders' Retained Earnings Equity Beginning balance Issuances of stock 2$ 13,000 $ 6,000 $ 19,000 Add: Net income 4,000 4,000 Less: Dividends Ending balance $4 15,000 $ 7,000 $ 22,000
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- 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?Identifying and Analyzing Financial Statement Effects of DividendsThe stockholders' equity of DiFrancesco Company at March 31, 2019 is shown below. 4% preferred stock, $1,000 par value, 25,000 shares authorized; 10,000 shares issued and outstanding $10,000,000 Common stock, $1 par value, 3,000,000 shares authorized; 700,000 shares issued and outstanding 700,000 Additional paid-in capital—preferred stock 60,000 Additional paid-in capital—common stock 17,150,000 Retained earnings 49,005,689 Total stockholders' equity $76,915,689 The following transactions, among others, occurred during the fiscal year ended March 31, 2020.April 15, 2019 Declare and pay preferred dividends of $400,000April 15, 2019 Declare and pay common dividends of $1.30 per share October 1, 2019 Execute a 3-for-1 stock split of the common stock when the stock price was $140 per share.March 1, 2020 Declare and pay common dividends of $0.50 per share (a) Use the financial statement effects template…At the end of its first year of operation, meltlock corporation has $1,200,000 of common stock and net income of $ 243,000 Prepare the stockholders' equity section at year-end. METLOCK CORPORATION Balance Sheet (Partial) December 31 Stockholders' Equity Paid-In Capital Retained Earnings Common Stock Total Stockholders' Equity $ 243,000 $
- Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity se Common Stock, $70 par $5,600,000 Paid-In Capital from Sale of Treasury Stock 112,000 Paid-In Capital in Excess of Par-Common Stock 2,160,000 Retained Earnings 2,800,000 Treasury Stock 67,000 Stockholders' Equity Paid-in capital: Total Paid-In Capital Total Stockholders' EquityThe following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Common Stock, $15 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock Retained Earnings Treasury Stock (715 Shares at Cost) Total Stockholders' Equity $657,000 27,000 17,520 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 715 shares have been reacquired. ✓ 1,031,000 ✓ 13,585 Paid-In Capital: Common Stock, $45 Par (80,000 Shares Authorized, 14,600 Shares Issued) Excess Over Par Paid-in capital, common stock From Sale of Treasury Stock Total Paid-In Capital Goodale Properties Inc. Stockholders' Equity June 30 QOOQHomework Corporation Stockholders' Equity December 31, 2021 Common Stock, no par, 25,000 shares outstanding Retained Earnings Other Comprehensive Income 500,000 300,000 (30,000) Total Stockholders' Equity 770,000 The following transactions relating to stockholders' equity occurred during 2022: Enter the transactions in the general journal 1. Recorded a net income of $100,000 with a $15,000 loss allocated to other comprehensive income (no journal entry required)
- Understanding EPS Calculations: On its Form 10-K, for December 31, 20X5, Bank of America reported information related to basic earnings per share. Fill in the missing information based on the table below. $ millions, except per share amounts 20X5 20X4 20X3 Net Income $15,888 $4,833 D Preferred Stock Dividends $1,483 B $1,349 Net Income Applicable to Common Shareholders $14,405 C $10,082 Average Common Shares Outstanding 10,462,282 10,527,818 E Basic Earnings per Share (EPS) A $0.36 $0.94Statement of Stockholders' Equity The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Jan. 1 Balance 1,300,000 Apr. 14 Issued 11,400 570,000 shares Dec. 31 Balance 1,870,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 208,000 Apr. 14 Issued 11,400 136,800 shares Dec. 31 Balance 344,800 TREASURY STOCK Aug. 7 Purchased 1,900 shares 91,200 RETAINED EARNINGS Mar. 31 Dividend 33,000 Jan. 1 Balance 2,260,000 June. 30 Dividend 33,000 Dec. 31 Closing Sept. 30 Dividend 33,000 (Net income) 339,000 Dec. 31 Dividend 33,000 Dec. 31 Balance 2,467,000 Prepare a statement of stockholders' equity for the year ended December 31, 20Y9. If an amount box does not require an entry I-Cards Inc. Statement of Stockholders' Equity For the Year Ended December 31, 20Y9Identifying and Analyzing Financial Statement Effects of Stock Transactions The stockholders' equity of Gaulin Company at the start of the current year follows: Common stock, $5 par value, 350,000 shares authorized; 150,000 shares issued and outstanding $750,000 Paid-in capital in excess of par value 600,000 346,000 Retained earnings During the current year, the following transactions occurred: Jan. 5 Issued 10,000 shares of common stock for $10 cash per share. Jan. 18 Purchased 4,000 shares of common stock for the treasury at $15 cash per share. Mar. 12 Sold one-fourth of the treasury shares acquired January 18 for $19 cash per share. July 17 Sold 500 shares of the remaining treasury stock for $14 cash per share. Oct. 1 Issued 5,000 shares of 8%, $27 par value preferred stock for $34 cash per share. This is the first issuance of preferred shares from the 50,000 authorized shares. (a) Use the financial statement effects template to indicate the effects of each transaction. Use negative…
- The stockholder's equity section of the balance sheet contains. .common stock .preferred stock .Additional stock .other accumulated comprehensive income. .Retained earnings It is important to understand how changes in the accounts impact the balance sheet and the financial position of the organization Genaing inc.has $200,000 of 5%, $10 par value preferred stock and $450,000 of $5 par value common stock issued and outstanding Dec. 31,2021 There were no stock issuance, stock splits or stoxk dividends for 2021. The organization's calender end is on Dec.31 2021. Preferred stock did not receive any dividends for 2019 or 2020 because the company did not have enough cash reserves to pay out dividends. The preferred stock has a mix characteristics .10% of the preferred stock is noncumulative, nonparticipating .20% of the preferred stock is cumulative, nonparticipating .20% of the preferred stock is noncumulative ,participating .50 of the preferred stock is cumulative, participating The…Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2024, 100 shares of preferred stock and 1,800 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 1,800 additional shares of common stock for $17 per share. Issue 200 additional shares of preferred stock for $28 per share. April 1 June 1 Declare a cash dividend on both common and preferred stock of $0.60 per share to all stockholders of record on June 15. June 30 Pay the cash dividends declared on June 1. August 1 Purchase 200 shares of common treasury stock for $14 per share. October 1 Resell 100 shares of treasury stock purchased on August 1 for $16 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, $1,000; Common Stock, $1,800; Additional Paid-in Capital, $18,300; and Retained Earnings, $10,300. Net income for the year…View Policies Current Attempt in Progress The shareholders' equity accounts of Sandhill Inc. at December 31, 2023, are as follows: Preferred shares, $3 noncumulative, unlimited number authorized, 5,000 issued Common shares, unlimited number authorized, 140,000 issued Retained earnings Accumulated other comprehensive loss Sandhill has a 35% income tax rate. During the following fiscal year ended December 31, 2024, the company had the following transactions and events: Feb. July Dec. 1 Repurchased 10,000 common shares for $40,000. Announced a 2-for-1 preferred stock split. The market price of the preferred shares at the date of announcement was $150. 12 1 $500,000 700,000 550,000 (48,000) Dec. 18 Dec. 31 Declared the annual cash dividend ($1.50 post-split) to the preferred shareholders of record on January 10, 2025, payable on January 31, 2025, Declared a 10% stock dividend to common shareholders of record at December 20, distributable on January 12. 2025. The fair value of the common…