P11-3B On December 31, 2013, Peabody Company had 820,000 shares of $10 par common stock issued and outstanding. At December 31, 2013, stockholders’ equity had the amounts listed here. Common Stock $8,200,000 Additional Paid-in Capital 2,460,000 Retained Earnings 1,600,000 Transactions during 2014 and other information related to stockholders’ equity accounts were as follows. 1. On January 18, 2014, issued at $107 per share 80,000 shares of $100 par value, 7% cumulative preferred stock. 2. On March 23, 2014, reacquired 20,000 shares of its common stock for $15 per share. 3. On May 15, 2014, declared the yearly cash dividend on preferred stock, payable June 12, 2014, to stockholders of record on May 31, 2014. 4. On June 8, 2014, declared a cash dividend of $2.00 per share on the common stock outstanding, payable on July 10, 2014, to stockholders of record on July 1, 2014. 5. Net income for the year was $2,900,000. Instructions Prepare the stockholders’ equity section of Peabody’s balance sheet at December 31, 2014
P11-3B On December 31, 2013, Peabody Company had 820,000 shares of $10 par common stock issued and outstanding. At December 31, 2013,
amounts listed here.
Common Stock $8,200,000
Additional Paid-in Capital 2,460,000
Transactions during 2014 and other information related to stockholders’ equity accounts
were as follows.
1. On January 18, 2014, issued at $107 per share 80,000 shares of $100 par value, 7%
cumulative
2. On March 23, 2014, reacquired 20,000 shares of its common stock for $15 per
share.
3. On May 15, 2014, declared the yearly cash dividend on preferred stock, payable June
12, 2014, to stockholders of record on May 31, 2014.
4. On June 8, 2014, declared a cash dividend of $2.00 per share on the common stock
outstanding, payable on July 10, 2014, to stockholders of record on July 1, 2014.
5. Net income for the year was $2,900,000.
Instructions
Prepare the stockholders’ equity section of Peabody’s
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