Martinez Company's December 31, 2020, trial balance includes the following accounts: Investment in Common Stock $74,600, Retained Earnings $121,40O, Trademarks $39,900, Preferred Stock $158,500, Common Stock $63,400, Deferred Income Taxes $90,900, Paid-in Capital in Excess of Par-Common Stock $175,800, and Noncontrolling Interest $63,640. Prepare the stockholders' equity section of the balance sheet.
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- Neptune Corporation is preparing its December 31, 2018, balance sheet. The following items may be reported as either assets, liabilities or stockholders’ equity. d) During the year, customer advances of $220,000 were received; $110,000 of this amount was earned by December 31, 2018. e) A 10% bonds payable of 1,000,000 was issued on December 31, 2018, due on December 31, 2023. f) Treasury stock of $55,000 has been recorded at cost. Instructions:For each item above indicate the dollar amounts to be reported as assets, liabilities or stockholders’ equity. Mention the classification as well.What would be the classified Balance Sheet for Sandpiper as of December 31, 2020? After calculations, does the ASSETS sheet and Liabilities and Stockholders' Equity balance? Accounts Payable $34,600 Accounts Receivable $35,100 Accrued Liabilities $11,500 Accumulated Depreciation $35,600 Allowance for Doubtful Accounts $900 Bonds Payable[Long-term] $80,000 Cash and Cash Equivalents $33,600 Common Stock at par $1.50 (authorized 200,000 shares, issued xxxxx? shares, and XXXX? outstanding)-CALCULATE $75,000 Cost of goods sold $204,800 Current Portion of Long-Term Debt $5,600 Discounts on Bonds Payable $2,300 Equipment and vehicles $89,100 General and administrative expenses $92,100 Intangilbles - Net $14,300 Investments in Equity Securities[long-term] $5,000 Land[not used in operations] $25,600 Land and Building $145,300 Long-Term Debt Payable [not including current portion] $40,200 Merchandise Inventory (FIFO, Lower of Cost or Market) $28,700 Notes Payable[short-term] $6,500 Notes…Direction. Read and understand the case and answer the requirements. On December 31, 2020, Shipyard, Inc. reported the following stockholders' equity account: Common Stock, $10 par value Paid-in Capital in excess of par value, common stock Retained Earnings +In 2021, the following entries related to its equity are recorded. Date Accounts Jan. Feb Feb Mar Dec 17 Retained Earnings 2021 5 28 14 Common Dividend Payable Common Dividend Payable Cash Retained Earnings Common Stock Dividend Distributable Paid-in Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable Common Stock, $10 Par Value 31 Income Summary Retained Earnings The table shows the equity balances as of December 31, 2021. Paid-in capital in excess of par Beginning Balance Dividend declaration Stock Dividend Declaration Stock Dividend Distribution Net Income Common Stock 1,000,000 130,000 1,130,000 300,000 Common stock dividend distributable 300,000 120,000 120,000 Debit 100,000 100,000 250,000 120,000…
- The books of Oriole corporation carried the following account balances as of December 31, 2020. Cash $210,000. preferred stck(cumulative, nonparticipating,$50 par) $310,000. common stock (non-par value, 284,000 shares issued) $1,420,000. Paid-in capital in excess of par -preferred stock $157,000. Treasury stock (common 2,900 shares at cost). Retained earnings $ 106,100. The company decided not to pay any dividend in 2020. The board of directors, at their annual meeting on December 21,2021, declared the following: The current year dividend shall be 6% on the preferred and $0.30% per share on the common. The dividend in arrears shall be paid by issuing 1,550 shares of treasury stock. At the date of deceleration, the preferred is selling at $80 per shares , and the common at $12 per shares . Net income for 2021 is estimated at $81,400. (a) prepare the journal entries required for the dividend declaration and payment assuming that they occur simultaneously. ( credit amount title are…Texas, Inc. has net income for 2019 of $555,000. At January 1, 2019, the company had outstanding 54,000 shares of $75 par value common stock and 10,000 shares of 6%, $150 par value cumulative preferred stock. On September 1, 2019, an additional 18,000 shares of common stock were issued. What is the earnings per share for 2019 (to the nearest cent)? Select one: O O O A. $6.47 B. $9.26 C. $7.75 D. $6.66The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,425,000, $145,000 in the common stock account, and $2,700,000 in the additional paid-in surplus account. The December 31, 2022, balance sheet showed long-term debt of $1,630,000, $155,000 in the common stock account and $3,000,000 in the additional paid-in surplus account. The 2022 income statement showed an interest expense of $96,500 and the company paid out $150,000 in cash dividends during 2022. The firm's net capital spending for 2022 was $1,010,000, and the firm reduced its net working capital investment by $130,000. What was the firm's 2022 operating cash flow, or OCF? Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
- Crane Supply Corporation provided the following schedule detailing the changes in the shareholders' equity accounts during 2020 and 2021. 2021 Number of Shares 2020 Amount Number Amount of Shares Common shares, unlimited authorized Balance, January 1 Issued shares for cash Reacquired shares Balance, December 31 Contributed surplus-reacquisition of common shares Balance, January 1 Reacquired common shares Balance, December 31 Retained earnings Balance, January 1 Profit (loss) Common dividends-Cash Balance, December 31 Accumulated other comprehensive income Balance, January 1 Other comprehensive income (loss) Balance, December 31 Shareholders' equity, December 31 CRANE SUPPLY CORPORATION Statement of Changes in Shareholders' Equity choose the accounting period 380,000 38,000 (19,000 ) 399,000 $456,000 380,000 $456,000 24,500 (21,841 ) 458,659 380,000 456,000 11,500 6,100 17,600 11,500 11,500 136,500 17,000 (15,500 ) 138,000 144,000 15,500 (23,000 ) 136,500 39,000 13,000 41,000 (2,000 )…Please help meThe stockholders’ equity accounts of Grouper Company have the following balances on December 31, 2020. Common stock, $10 par, 290,000 shares issued and outstanding $ 2,900,000 Paid-in capital in excess of par—common stock 1,120,000 Retained earnings 5,110,000 Shares of Grouper Company stock are currently selling on the Midwest Stock Exchange at $ 36.Prepare the appropriate journal entries for each of the following cases. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) A stock dividend of 7% 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 Debit Credit (a) (1) enter an account title for case A to record the declaration of stock dividends…
- Prepare the note disclosure required (e) On 10 September 2021, the company paid a dividend of $210,000, which was declared on 14 July 2020. The company also declared and paid an interim dividend on 25 March 2022 from the retained earnings. (f) Share capital at 1 July 2021 comprised 1,000,000 ordinary shares. These were issued in April 2019 at an issue price of $3.50 and are fully paid. In relation to this issue $32,000 share issue costs were incurred, and these were paid by the company in May 2019. In November 2021 the company issued a prospectus inviting applications for 2,000,000 ordinary shares at an issue price of $4.00, with $3.00 payable on application and $1.00 due on allotment. All of these shares were issued in January 2022. All of the money required on allotment was received by the end of February 2022. Share issue costs in relation to this issue totalled $22,000 and were paid on 7 March 2022. (g) On 30 June 2022, the directors decided to transfer $4,000,000…Stockholders' equity accounts, arranged aphabetically are the ledger of Pina Colada Corp. at December 31, 2020. Common Stock ($5 stated value) $1,675,000 Paid-in capital inexcess of par-preferred stock 279,000 Paid-in capital in excess of stated value-common stock. 936,000 Preferred stock (8%, $103 par) 489,250 Ratained Earnings 1,120,000 Treasury Stock (12,000 common shares) 144,000 Prepare the stockholders' equity section of the balance sheet at December 31, 2020. *please solve and explain process. Thank youDonnie Hilfiger has the following balances in its stockholders' equity accounts on December 31, 2021: Treasury Stock, $375,000; Common Stock, $250,00O; Preferred Stock, $1,300,000; Retained Earnings, $1,650,000; and Additional Paid-in Capital, $3,100,000. Prepare the stockholders' equity section of the balance sheet for Donnie Hilfiger as of December 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) DONNIE HILFIGER Balance Sheet (Stockholders' Equity Section) December 31, 2021 Stockholders' equity: Total paid-in capital Total stockholders' equity