On January 1, 2016, the Osgood Film Studios reported the following alphabetical list of shareholders' equity items: Additional paid-in capital on common stock $177,650 Additional paid-in capital on preferred stock 10,200 Common stock, $2 par 83,600 Preferred stock, $100 par 51,000 Retained earnings 248,000 During 2016, the company sold 4,400 shares of common stock for $9 per share and 330 shares of preferred stock for $137 per share. It also earned income of $98,000 and paid dividends of $6 per share on the preferred stock and $1.80 per share on the common stock outstanding at the end of 2016. Required: Prepare Osgood's statement of shareholders' equity (include retained earnings) for 2016. OSGOOD FILM STUDIOS Statement of Shareholders' Equity For Year Ended December 31, 2016 Additional Paid-in Capital Additional Preferred Common Paid-in Retained Stock Stock $2 Capital $100 par par on Common Earnings Total on Preferred Stock Stock Balances, 1/1/16 83.600 10.200 177.650 248.000 570.450 S1.000 Common stock issued Preferred stock issued Net income 98.000 98.000

On January 1, 2016, the Osgood Film Studios reported the following alphabetical list of shareholders' equity items: Additional paid-in capital on common stock $177,650 Additional paid-in capital on preferred stock 10,200 Common stock, $2 par 83,600 Preferred stock, $100 par 51,000 Retained earnings 248,000 During 2016, the company sold 4,400 shares of common stock for $9 per share and 330 shares of preferred stock for $137 per share. It also earned income of $98,000 and paid dividends of $6 per share on the preferred stock and $1.80 per share on the common stock outstanding at the end of 2016. Required: Prepare Osgood's statement of shareholders' equity (include retained earnings) for 2016. OSGOOD FILM STUDIOS Statement of Shareholders' Equity For Year Ended December 31, 2016 Additional Paid-in Capital Additional Preferred Common Paid-in Retained Stock Stock $2 Capital $100 par par on Common Earnings Total on Preferred Stock Stock Balances, 1/1/16 83.600 10.200 177.650 248.000 570.450 S1.000 Common stock issued Preferred stock issued Net income 98.000 98.000

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Description: w.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=falseR. © 6 *E CalculatorOn January 1, 2016, the Osgood Film Studios reported the following alphabetical list of shareholders' equity items:Additional p

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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The annual report for General Mills disclosed that 1 billion shares of common stock have been authorized. At the beginning of 2017, 755 million shares had been issued and the number of shares in treasury stock was 178 million. During 2017, the only common share transactions were that 11 million common shares were reissued from treasury and 27 million common shares were purchased and held as treasury stock. Required: Determine the number of common shares (a) issued, (b) in treasury, and (c) outstanding at the end of 2017. (Enter your answers in millions.) (a) Issued Stock (b) Treasury Stock (c) Shares Outstanding Number of Common Shares (in millions) 194
Choctaw Co. completed the following transactions in 2016, the first year of operation: 1. Issued 33,000 shares of $10 par common stock for $10 per share. 2. Issued 4,300 shares of $20 stated value preferred stock for $20 per share. 3. Purchased 2,300 shares of common stock as treasury stock for $12 per share. 4. Declared a $3,300 cash dividend on preferred stock. 5. Sold 1,000 shares of treasury stock for $14 per share. 6. Paid $3,300 cash for the preferred dividend declared in Event 4. 7. Earned cash revenues of $104,000 and incurred cash expenses of $54,000. 8. Closed revenue, expense, and dividend accounts to the retained earnings account. 9. Appropriated $9,300 of retained earnings.
Divac Company has developed a statement of stockholders' equity for the year 2017 as follows: Preferred Stock Paid-InCapital—Preferred Common Stock Paid-InCapital—Common Retained Earnings Balance, Jan. 1 $100,000 $50,000 $400,000 $40,000 $200,000 Stock issued 100,000 10,000 Net income 87,000 Cash dividend -45,000 Stock dividend 10,000 5,000 -15,000 Balance, Dec. 31 $110,000 $55,000 $500,000 $50,000 $227,000 Divac’s preferred stock is $100 par, 8% stock. If the stock is liquidated or redeemed, stockholders are entitled to $120 per share. There are no dividends in arrears on the stock. The common stock has a par value of $5 per share. Assume that the common stockholders have a right to the total net income of $87,000. Determine the book value per share of Divac’s common stock. Round the book value per share to two decimals.$fill in the blank_____ per share
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Changes in Shareholders' Equity On January 1, 2016, the Osgood Film Studios reported the following alphabetical list of shareholders' equity items: Additional paid-in capital on common stock $118,150 Additional paid-in capital on preferred stock 19,200 Common stock, $2 par 55,600 Preferred stock, $100 par 96,000 Retained earnings 236,000 During 2016, the company sold 4,600 shares of common stock for $15 per share and 440 shares of preferred stock for $124 per share. It also earned income of $81,000 and paid dividends of $9 per share on the preferred stock and $1.20 per share on the common stock outstanding at the end of 2016. Required: Prepare Osgood's statement of shareholders' equity (include retained earnings) for 2016. OSGOOD FILM STUDIOS Statement of Shareholders' Equity For Year Ended December 31, 2016 Additional Paid-in Additional Paid-in Capital Retained Preferred Stock $100 par Common Stock $2 Capital on on par Earnings Total Preferred Stock Common Stock $4 $ %24
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