P12-2A The following account balances relate to the stockholders' equity accounts ofMolder Corp. at year-end.Common stock, 10,500 and 10,000 shares,respectively, for 2017 and 2016Preferred stock, 5,000 sharesRetained earnings2017$160,800125,000300,0002016$140,000125,000270,000A small stock dividend was declared and issued in 2017. The market price of the shareswas $8,800. Cash dividends were $20,000 in both 2017 and 2016. The common stock hasno par or stated value.Instructions(a) What was the amount of net income reported by Molder Corp. in 2017?

The amount that a business or individual keeps after costs, reimbursements, and taxes is known as…

Answered: P12-2A The following account balances…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Sunland Company has 600 shares of 10%, $100 par value, cumulative preferred stock and 30000 shares of $1 par value common stock outstanding at December 31, 2017. What is the annual dividend on the preferred stock?
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 theamounts listed here.Common Stock $8,200,000Additional Paid-in Capital 2,460,000Retained Earnings 1,600,000Transactions during 2014 and other information related to stockholders’ equity accountswere 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 pershare.3. On May 15, 2014, declared the yearly cash dividend on preferred stock, payable June12, 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 stockoutstanding, payable on July 10, 2014, to stockholders of record on July 1, 2014.5. Net income for the year was $2,900,000.InstructionsPrepare the stockholders’ equity section of Peabody’s balance sheet at…
Journalize transactions, post, and prepare a stockholders' equity section; calculate ratios. P11-2B The stockholders' equity accounts of Warden Corporation on January 1, 2014, were as follows. Preferred Stock (9%, $50 par cumulative, 10,000 shares authorized) Common Stock ($1 stated value, 2,000,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (8,000 common shares) $ 200,000 1,000,000 16,000 1,400,000 1,716,000 20,000 (LO 2, 3, 5, 7, 8), AP GLS During 2014 the corporation had these transactions and events pertaining to its stock- holders' equity. Feb. Issued 20,000 shares of common stock for $160,000. Purchased 4,000 shares of common stock for the treasury at a cost of $16,000. Declared a 9% cash dividend on preferred stock, payable December 15. Declared a $0.30 per share cash dividend to common stockholders of record on December 15, payable December 31, 2014. Nov. 10…
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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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The shareholders’ equity of Proactive Solutions, Inc., included the following at December 31, 2016: Common stock, $1 par Paid-in capital—excess of par on common stock 7% cumulative convertible preferred stock, $100 par value Paid-in capital—excess of par on preferred stock Retained earnings Additional Information: • Proactive had 7 million shares of preferred stock authorized of which 2 million were outstanding. All 2 million shares outstanding were issued in 2010 for $112 a share. The preferred stock is convertible into common stock on a two-for-one basis until December 31, 2018, after which the preferred stock no longer is convertible. None of the preferred stock has been converted into common stock at December 31, 2016. There were no dividends in arrears. • Of the 13 million common shares authorized, there were 8 million shares outstanding at January 1, 2016. Proactive also sold 3 million shares at the beginning of September 2016 at a price of $52 a share. • The company has an…
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The equity section of Atticus Group’s 2017 year-end balance sheet had 200,000 shares of $4 par value common stock authorized. Of this amount, 40,000 shares were issued and outstanding in one offering in which the stock was sold at $7 per share. Retained earnings had a balance of $320,000. The following transactions and events occurred in 2018. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10, to be paid February 10. Mar. 20 Purchased 3,000 shares of treasury stock for $10 per share. Apr. 5 Declared a 20% stock dividend when the stock’s market value was $12 per share. The dividend is to be distributed on April 30 to stockholders of record on April 10. Jul. 5 Declared a $0.25 per share cash dividend, date of record July 10, to be paid August 10. Aug. 14 Issued 4,000 shares at $15 per share. Oct. 5 Declared and distributed a 2-for-1 stock split. Dec. 31 Atticus recorded net income of $248,000 in 2018. 1.What is total paid-in capital one…
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