Exercise 10-7B Prepare the stockholders' equity section (LO10-7)A company has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. The following transactions affectstockholders' equity during Year 1, its first year of operations:JanuaryFebruarySeptember 10 Purchases 11,000 shares of its own common stock for $27 per share.December 15 Resells 5,500 shares of treasury stock at $32 per share.2 Issues 100,000 shares of common stock for $22 per share.6 Issues 1,700 shares of 9% preferred stock for $11 per share.In its first year of operations, the company has net income of $147,000 and pays dividends at the end of the year of $94,500 ($1 pershare) on all common shares outstanding and $1,530 on all preferred shares outstanding.Required:Prepare the stockholders' equity section of the balance sheet for the company as of December 31, Year 1. (Amounts to be deductedshould be indicated by a minus sign.)Balance Sheet(Stockholders' Equity Section)December 31, Year 1Stockholders' equity:Total paid-in capitalTotal stockholders' equity2$ !Required informationProblem 10-3A Indicate effect of stock dividends and stock splits (LO10-6)[The following information applies to the questions displayed below.]Sammy's Sportshops has been very profitable in recent years and has seen its stock price steadily increase to over $100per share. The CFO thinks the company should consider either a 100% stock dividend or a 2-for-1 stock split.Problem 10-3A Part 1Required:1. Complete the following table comparing the effects of a 100% stock dividend versus a 2-for-1 stock split on the stockholders' equityaccounts, shares outstanding, par value, and share price. (Round "Par value per share" to 2 decimal places.)After 100%After 2-for-1BeforeStockStock SplitDividendCommon stock, $1 par value$ 1,000Additional paid-in capital44,000Total paid-in capital45,000Retained earnings22,350Total stockholders' equity$ 67,3500 $Shares outstanding1,000Par value per share$1.00Share price100

Hello I am only answering first question as per the policy and if you want other to be answered please resubmit the unanswered question again thank you Stockholders equity section: It is prepared to show the net capital of the organisation and reserves and surplus of the company.Prepare the stockholders' equity section of the balance sheet as follow: Stockholders' Equity Amount($) Paid in Capital Preferred Stock (1700 x 10) 17,000 Common Stock(100000 x 1) 1,00,000 Paid in Capital in excess of par-preferred (1700 x (11-10)) 1,700 Paid in Capital in excess of par-common (100000 x (22-1)) 21,00,000 Paid in capital from treasury Stock 27,500 Total Paid in Capital 22,46,200 Retained Earnings 50,970 Subtotal 22,97,170 Less: Treasury Stock (1,48,500) Total Stockholders Equity 21,48,670

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Exercise 10-7B Prepare the stockholders' equity section (LO10-7) A company has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during Year 1, its first year of operations: January 2 Issues 100,000 shares of common stock for $22 per share. February 6 Issues 1,700 shares of 9% preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $27 per share. December 15 Resells 5,500 shares of treasury stock at $32 per share. In its first year of operations, the company has net income of $147,000 and pays dividends at the end of the year of $94,500 ($1 per share) on all common shares outstanding and $1,530 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for the company as of December 31, Year 1. (Amounts to be deducted should be indicated by a minus sign.)

Exercise 10-7B Prepare the stockholders' equity section (LO10-7) A company has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during Year 1, its first year of operations: January 2 Issues 100,000 shares of common stock for $22 per share. February 6 Issues 1,700 shares of 9% preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $27 per share. December 15 Resells 5,500 shares of treasury stock at $32 per share. In its first year of operations, the company has net income of $147,000 and pays dividends at the end of the year of $94,500 ($1 per share) on all common shares outstanding and $1,530 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for the company as of December 31, Year 1. (Amounts to be deducted should be indicated by a minus sign.)

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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Exercise 10-6 (Algo) Record common stock, preferred stock, and dividend transactions (LO10-2, 10-3, 10-5) Italian Stallion has the following transactions during the year related to stockholders’ equity. February 1 Issues 4,900 shares of no-par common stock for $14 per share. May 15 Issues 700 shares of $10 par value, 7% preferred stock for $11 per share. October 1 Declares a cash dividend of $0.70 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Required information Exercise 10-3A Record the issuance of common stock (LO10-2) (The following information applies to the questions displayed below.) Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders' equity. January 1 Issues 600 shares of common stock for $35 per share. April 1 Issues 100 additional shares of common stock for $39 per share. Exercise 10-3A Part 2 2. Record the transactions, assuming Clothing Frontiers has either $1 par value or $1 stated value common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) aw transaction llat 1 Record the issuance of 600 shares of common stock for $35 per share. 2 Record the issuance of 100 additional shares of common stock for $39 per share. Credit Note : = journal entry has been entered Record entry Clear entry View general Journal
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Exercise 11-13A (Algo) Recording and reporting treasury stock transactions LO 11-5 The following information pertains to JAE Corporation at January 1, Year 1: Common stock, $11 par, 14,000 shares authorized, 2,800 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $30,800 12,100 51,200 4 JAE Corporation completed the following transactions during Year 1: 1. Issued 1,150 shares of $11 par common stock for $30 per share. 2. Repurchased 160 shares of its own common stock for $27 per share. 3. Resold 50 shares of treasury stock for $28 per share. Required: a. How many shares of common stock were outstanding at the end of the period? b. How many shares of common stock had been issued at the end of the period? c. Organize the transactions data in accounts under the accounting equation. d. Prepare the stockholders' equity section of the balance sheet reflecting these transactions. Complete this question by entering your answers in the tabs below.…
k Exercise 11-9A (Algo) Recording and reporting common and preferred stock transactions LO 11-4 Eastport Incorporated was organized on June 5, Year 1. It was authorized to issue 400,000 shares of $8 par common stock and 25,000 shares of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $25 per share. The following stock transactions pertain to Eastport Incorporated: a. Issued 21,000 shares of common stock for $13 per share. b. Issued 6,000 shares of the class A preferred stock for $30 per share. c. Issued 59,000 shares of common stock for $16 per share. Required Prepare the stockholders' equity section of the balance sheet immediately after these transactions. EASTPORT INCORPORATED Balance Sheet (partial) For the Year Ended Year 1 Stockholders' Equity Paid-in capital in excess of par, CS Common stock Preferred stock Total Paid-In Capital Total stockholders' equity $ $ 0 0 Next
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ACCT2110 Financial Accounting Chapter 11 Stockholders' Equity Homework Problem 1. The stockholders' equity section of MaiStyle Corporation's balance sheet at December 31 is presented here. MAISTYLE CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding $900,000 Common stock, no par; 750,000 shares authorized, 600,000 shares issued 1,800,000 Total paid-in capital 2,700,000 Retained earnings 1,158,000 Total paid-in capital and retained earnings 3,858,000 Less: Treasury stock (8,000 common shares) (32,000) Total stockholders' equity $3,826,000 Instructions From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? (b) Assuming there is a stated value, what is the stated value of the common stock? (c) What is the par value of the preferred stock? (d) If the annual dividend on preferred stock is $36,000,…
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