(b) Prepare the stockholders' equity section at December 31, 2020. (Enter account name only and do not provide descriptive information.)Buffalo CompanyBalance Sheet (in millions of dollars) (Partial)Paid-in Capital:Paid-in CapitalCommon Stock-Additional Paid-in CapitalsubtLess Treasury StockTotal Stockholders' EquityeTextbook and MedialList of Accounts1000000 (b) Prepare the stockholders' equity section at December 31, 2020. (Enter account name only and do not provide descriptive information.)Buffalo CompanyBalance Sheet (in millions of dollars) (Partial)Paid-in Capital:Paid-in CapitalCommon Stock-Additional Paid-in CapitalsubtLess Treasury StockTotal Stockholders' EquityeTextbook and MedialList of Accounts1000000

The shareholders' equity represents the total shares issued and the retained earnings of the…

Answered: For a recent 2-year period, the balance…

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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At the beginning of 2021, Thompson Service, Inc., showed the following amounts in the stockholders' equity section of its balance sheet. Stockholders' equity: Capital stock, $1 par value, 500,000 shares authorized, 382,000 issued and outstanding Additional paid-in capital: capital stock Total paid-in capital Retained earnings Total stockholders' equity Page 557 Instructions $ 382,000 4,202,000 $4,584,000 2,704,600 $7,288,600 The transactions relating to stockholders' equity during the year are as follows. Jan. 3 Declared a dividend of $1 per share to stockholders of record on January 31, payable on February 15. Feb. 15 Paid the cash dividend declared on January 3. Apr. 12 The corporation purchased 6,000 shares of its own capital stock at a price of $40 per share. May 9 Reissued 4,000 shares of the treasury stock at a price of $44 per share. June 1 Declared a 5 percent stock dividend to stockholders of record at June 15, to be distributed on June 30. The market price of the sto…
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On January 1, 2021, Nichols Corporation had 500,000 shares of common stock outstanding. During 2021 there were the following changes: Mar 1 Issued 150,000 shares Apr 1 Issued a 15% stock dividend May 1 Acquired 50,000 shares of treasury stock July 1 Issued a 2-1 stock split Oct 1 Reissued 60,000 shares of treasury stock Instructions: Compute the weighted average shares outstanding for 2021 in the excel file.
Subject : Accounting
The stockholders' equity accounts of Wildhorse Company have the following balances on December 31, 2025. Common stock, $10 par, 292,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings $2,920,000 1,320,000 5,080,000 Shares of Wildhorse Company stock are currently selling on the Midwest Stock Exchange at $33. Prepare the appropriate journal entries for each of the following cases. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) a. A stock dividend of 6% is (1) declared and (2) issued. b. A stock dividend of 100% is (1) declared and (2) issued. C. A 2-for-1 stock split is (1) declared and (2) issued. No. Account Titles and Explanation a. (1) a. (2) b. (1) b. (2) c. (1) c. (2) Debit Credit
On January 1, 2021, a company had 499,000 shares of common stock outstanding. During the year, it had the following transactions that affected the common stock account. April 1 Acquired 64,000 shares of treasury stock July 1 Issued a 20% stock dividend October 1 Issued a 4-for-1 stock split What is the weighted-average number of shares outstanding as of December 31, 2021?
Larkspur Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 11%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (92,500 shares authorized, 18,500 shares issued) 92,500 Additional paid-in capital 120,000 Retained earnings 413,000 Total $825,500 During 2020, Larkspur took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $11 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,900 shares of its own outstanding common stock for $40 per share. Larkspur uses the cost method. 3. Reissued 600 treasury shares for land valued at $32,100. 4. Issued 530 shares of preferred stock at $105 per share. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $47 per share. 6. Issued the stock dividend.…
Hardaway Fixtures' balance sheet at December 31, 2020, included the following: Shares issued and outstanding: Common stock, $1 par $ 1,060,000 Nonconvertible preferred stock, $50 par 20,000 On July 21, 2021, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $70,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2021, was $4,600,000. Required: Compute Hardaway's earnings per share for the year ended December 31, 2021. Numerator / Denominator = Earnings per Share / =

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