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Marigold Company reported the following amounts in the stockholders' equity section of its December 31, 2024, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1.900 shares issued) Common stock $5 par (98,000 shares authorized, 19,600 shares issued) Additional paid-in capital Retained earnings Total 1. 2 During 2025, Marigold took part in the following transactions concerning stockholders' equity Paid the annual 2024 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2024. 3. 4. $190,000 5. 98,000 117,000 470,000 $875,000 Purchased 1.700 shares of its own outstanding common stock for $37 per share. Marigold uses the cost method. Reissued 700 treasury shares for land valued at $29.500. Issued 450 shares of preferred stock at $104 per share. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $47 per shar

Marigold Company reported the following amounts in the stockholders' equity section of its December 31, 2024, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1.900 shares issued) Common stock $5 par (98,000 shares authorized, 19,600 shares issued) Additional paid-in capital Retained earnings Total 1. 2 During 2025, Marigold took part in the following transactions concerning stockholders' equity Paid the annual 2024 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2024. 3. 4. $190,000 5. 98,000 117,000 470,000 $875,000 Purchased 1.700 shares of its own outstanding common stock for $37 per share. Marigold uses the cost method. Reissued 700 treasury shares for land valued at $29.500. Issued 450 shares of preferred stock at $104 per share. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $47 per shar

FINANCIAL ACCOUNTING
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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Prepare the December 31, 2025, stockholders' equity section. Assume 2025 net income was $341,000. (Enter account name only Do not provide any descriptive information.) MARIGOLD COMPANY Stockholders' Equity
Transcribed Image Text:Prepare the December 31, 2025, stockholders' equity section. Assume 2025 net income was $341,000. (Enter account name only Do not provide any descriptive information.) MARIGOLD COMPANY Stockholders' Equity
Marigold Company reported the following amounts in the stockholders' equity section of its December 31, 2024, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1.900 shares issued) Common stock, $5 par (98,000 shares authorized, 19,600 shares issued) Additional paid-in capital Retained earnings Total During 2025, Marigold took part in the following transactions concerning stockholders' equity Paid the annual 2024 59 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2024. 1. 2. 3. 4. 5. $190,000 98,000 117,000 470,000 $875,000 6. Purchased 1,700 shares of its own outstanding common stock for $37 per share. Marigold uses the cost method. Reissued 700 treasury shares for land valued at $29,500 Issued 450 shares of preferred stock at $104 per share. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $47 per share. Issued the stock dividend.
Transcribed Image Text:Marigold Company reported the following amounts in the stockholders' equity section of its December 31, 2024, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1.900 shares issued) Common stock, $5 par (98,000 shares authorized, 19,600 shares issued) Additional paid-in capital Retained earnings Total During 2025, Marigold took part in the following transactions concerning stockholders' equity Paid the annual 2024 59 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2024. 1. 2. 3. 4. 5. $190,000 98,000 117,000 470,000 $875,000 6. Purchased 1,700 shares of its own outstanding common stock for $37 per share. Marigold uses the cost method. Reissued 700 treasury shares for land valued at $29,500 Issued 450 shares of preferred stock at $104 per share. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $47 per share. Issued the stock dividend.
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