The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:Common Stock, $15 parPaid-In Capital from Sale of Treasury StockPaid-In Capital in Excess of Par-Common StockRetained EarningsTreasury StockRetained EarningsTreasury Stock (715 Shares at Cost)Total Stockholders' Equity$657,00027,00017,520Prepare 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 shareshave been reacquired.✓1,031,000✓13,585Paid-In Capital:Common Stock, $45 Par (80,000 Shares Authorized, 14,600 Shares Issued)Excess Over ParPaid-in capital, common stockFrom Sale of Treasury StockTotal Paid-In CapitalGoodale Properties Inc.Stockholders' EquityJune 30QOOQ

Total stockholders’ equity = Total paid-in capital + Retain earnings - Treasury stock

Answered: Goodale Properties Inc. Stockholders'…

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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authorized, 35,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) $177,000 137,000 400,000 714,000 (50,000) Less cost of treasury stock Total stockholders' equity $664,000 The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $10 per share. Aug. 14 Issued the stock dividend that was declared on July 31. 5 Declared a $0.50 per share cash dividend, date of record April 10. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. ces 4. What is the per share cost of the treasury stock purchased? (Round your answer to 2 decimal Cost per share
GL1101 - Based on Problem 11-2A LO C3, P2, P3 Upperchurch Company reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 130,e00 shares authorized, 5e,ee0 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 500,000 75,000 410,000 Total stockholders' equity $ 985,000 During the year, the following transactions affected its stockholders' equity accounts. 2 Purchased 5,000 shares of itS own stock at $23 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. 28 Paid the dividend declared on January 5. 6 Sold 1,900 of its treasury shares at $27 cash per share. 22 Sold 3,100 of its treasury shares at $20 cash per share. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. 28 Paid the dividend declared on September 5. 31 Closed the $214,000 credit balance (from…
Determine common stock dividend per share: Stockholder equity: 7 1/2% cumulative preferred stock, $100 par value 100,000 share authorized $2, 600,000 Common stock $2 par value, 900,000 shares authorized 900,000 Additional paid in caital: common stock 8,700,000 Retained earnings 2,595,000 Total stockholders equity 14,795,000 Assume that retained earnings at the beginning of the year amounted to $717, 500 and the net income for the year was $3,970,000. What was the dividend declared during the year on each of the common stock? Number of issued shares of preferred stock 26000 Annual preferred stock dividend 195,000 Number of oustanding shares of common stock 450000 Average issuance price of…
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Stockholders’ Equity (January 1) Common stock—$6 par value, 100,000 sharesauthorized, 30,000 shares issued and outstanding $ 180,000 Paid-in capital in excess of par value, common stock 140,000 Retained earnings 360,000 Total stockholders’ equity $ 680,000 Stockholders’ Equity (December 31) Common stock—$6 par value, 100,000 sharesauthorized, 35,200 shares issued, 4,000 shares in treasury $ 211,200 Paid-in capital in excess of par value, common stock 171,200 Retained earnings ($40,000 restricted by treasury stock) 420,000 802,400 Less cost of treasury stock (40,000 ) Total stockholders’ equity $ 762,400 The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.40 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.40 per share cash dividend, date of record April 10.…
Stockholders' Equity: Transactions and StatementThe stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $6 par value, 300,000 shares authorized, 60,000 shares 360,000 issued, 6,000 shares in treasury Additional paid-in capital In excess of par value 600,000 From treasury stock 37,500 637,500 Retained earnings 435,000 1,432,500 Less: Treasury stock (6,000 shares) at cost 172,500 Total Stockholdersâ€™ Equity 1,260,000 The following transactions affecting stockholdersâ€™ equity occurred during the year: Jan. 8 Issued 15,000 shares of previously unissued common stock for $26 cash per share. Mar. 12 Sold all of the treasury shares for $35 cash per share. June 30 Declared a five percent stock dividend on all outstanding shares of common stock. The market value of the stock was $31 per share. July 10 Issued the stock dividend declared on June 30. Oct. 7 Acquired 2,500 shares of common…
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Stockholders' Equity: Transactions and StatementThe stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $3 par value, 300,000 shares authorized, 60,000 shares 180,000 issued, 6,000 shares in treasury Additional paid-in capital In excess of par value 240,000 From treasury stock 15,000 255,000 Retained earnings 174,000 609,000 Less: Treasury stock (6,000 shares) at cost 69,000 Total Stockholdersâ€™ Equity 540,000 The following transactions affecting stockholdersâ€™ equity occurred during the year: Jan. 8 Issued 15,000 shares of previously unissued common stock for $10 cash per share. Mar. 12 Sold all of the treasury shares for $14 cash per share. June 30 Declared a five percent stock dividend on all outstanding shares of common stock. The market value of the stock was $12 per share. July 10 Issued the stock dividend declared on June 30. Oct. 7 Acquired 2,500 shares of common…
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The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,200 shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost $108,000 15,390 632,400 32,000 (9,600) Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) 1. The number of shares of preferred stock issued was 2. The number of shares of preferred stock outstanding was 3. The average issue price of the preferred stock was per share 4. The average issue price of the common stock was 5. The treasury stock transaction increased (decreased) stockholders' equity by 6. The…
heducation.com/ext/map/ex.n_CO_Conextem_ si Saved mecation.com 202 Stream Launch Corporation reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock $ 500,000 75,000 410,000 $ 985,000 Retained earnings Total stockholders' equity During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,000 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 2,500 of its treasury shares at $27 cash per share. August 22 Sold 2,500 of its treasury shares at $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid…

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