Get Answer Prepare the Stockholder's Equity section of the Balance sheet given the followinginformation:Preferred Stock $500,000Paid in Capital in Excess of Par P/S $10,000Common Stock $700,000Paid in Capital in Excess of Par C/S $200,000Retained Earnings $400,000Treasury Stock $40,000Paid in Capital from Sale of Treasury Stock $5,000

To prepare the Stockholder's Equity section of the Balance Sheet, we need to classify and organize…

Answered: Prepare the Stockholder's Equity…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 5MCQ

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Alert Companys shareholders equity prior to any of the following events is as follows: The company is considering the following alternative items: 1. An 8% stock dividend on the common stock when it is selling for 30 per share. 2. A 30% stock dividend on the common stock when it is selling for 32 per share. 3. A special stock dividend to common shareholders consisting of 1 share of preferred stock for every 100 shares of common stock. The preferred stock and common stock are selling for 123 and 31 per share, respectively. 4. A 2-for-1 stock split on the common stock, reducing the par value to 5 per share (assume the same date for declaration and issuance). The market price is 30 per share on the common stock. 5. A property dividend to common shareholders consisting of 100 bonds issued by West Company. These bonds are carried on the Alert Company books as an available-for sale investment at a fair value of 48,000 (which is also its cost); it has a current value of 54,000. 6. A cash dividend, consisting of a normal dividend and a liquidating dividend, on both the preferred and the common stock. The 10% preferred dividend includes a 2% liquidating dividend, and the 2.30 per share common dividend includes a 0.30 per share liquidating dividend (separate liquidating dividend contra accounts should be used). Required: For each of the preceding alternative items: 1. Record (a) the journal entry at the date of declaration and (b) the journal entry at the date of issuance. 2. Compute the balances in the shareholders equity accounts immediately after the issuance (any gains or losses are to be reflected in the retained earnings balance; ignore income taxes).
Compute for stockholders' equity using the following information: 5 points Bonds payable Additional paid in capital on common stock Donated capital Treasury stock at cost Common stock, par P1 Common stock option warrants Investments in marketable securities P120,000 20,000 16,000 8,000 200,000 40,000 28,000 6,000 54,000 Additional paid in capital from treasury stock Retained earnings
What is the total stockholders' equity based on the following account balances? Common Stock $2260000 Paid-In Capital in Excess of Par 126000 Retained Earnings 566000 Treasury Stock 66000 $2128000. $2886000. $3012000. $2634000.
What is Wayne Co.'s total stockholders' equity based on the following account balances? Common Stock Paid-In Capital in Excess of Par Retained Earnings Treasury Stock O $975,000. O $1,150,000. O $1,000,000. O $800,000. $950,000 50,000 175,000 25,000
Pearl Corporation has the following capital structure at the beginning of the year: 4% Preferred stock, $50 par value, 20,000 shares authorized, 6,000 shares issued and outstanding Common stock, $10 par value, 60,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholders' equity $ 300,000.00 $ 450,000.00 $ 120,000.00 $ 870,000.00 $ 446,000.00 $ 1,316,000.00 Do not indent manually. If no entry is required, select "NO Entry" for the account titles and enter 0 for the amounts.) 1. A total cash dividend of $90,000 was declared and payable to stockholders of record. Record dividends payable on common and preferred stock in separate accounts. 2. A 15% common stock dividend was declared. The average fair value of the common stock is $20 a share. 3. Assume that net income for the year was $139,000 (record the closing entry) and the board of directors appropriated $68,000 of retained earnings for plant…
Presented below is information related to Marigold Corp.: Common Stock, $1 par $3450000 Paid - in Capital in Excess of Par-Common Stock 543000 Preferred 8 1/2% Stock, $50 par 2140000 Paid - in Capital in Excess of Par- Preferred Stock 388000 Retained Earnings 1420000 Treasury Common Stock (at cost) 144000 The total stockholders' equity of Marigold Corp. is Select answer from the options below $6377000. $7941000. $7797000. $ 6521000.
What is the total stockholders' equity based on the following account balances? Common Stock $375,000 Paid-In Capital in Excess of Par 90,000 Retained Eamings 190,000 15,000 Treasury Stock a. S655,000 b. 8640.000 C. S565 000 d. s670,000
Consider the following data: Common stock ($1 par value) Capital surplus Retained earnings TOTAL OWNERS’ EQUITY Amount ($) 400,000 900,000 5,000,000 6,300,000 page 3 Current market price of shares = $51 per share. What will be the effect of a 10% stock dividend on the equity accounts? Supply the revised figures for all line items after the dividend.
Use the Stockholders' Equity section of FSB's Balance Sheet to answer the questions below. FSB Enterprises Balance Sheet (partial) At December 31, 202A Stockholders' Equity: Preferred stock (Par $100) 1,000,000 120,000 Common stock (Par $0.20) Additional Paid in capital 8,915,000 Total paid in capital 10,035,000 Retained earnings 1,400,000 -54,000 Treasury stock (3,000 common shares) Total stockholders equity 11,381,000 1 How many shares of preferred stock have been issued? 2a How many shares of common stock have been issued? 2b How many of the common shares are outstanding?
The balance sheet caption for common stock is the following: Common stock, $2 par value, 2,070,000 shares authorized, 1,310, 000 shares issued, 1,050,000 shares outstanding $? Required: a. Calculate the dollar amount that will be presented opposite this caption. b. Calculate the total amount of a cash dividend of $0.27 per share. c. What accounts for the difference between issued shares and outstanding shares? a. Amount b. Cash dividend c. Difference between issued shares and outstanding shares
Think about the information below: Capital surplus Retained earnings Common stock ($1 par valve) TOTAL OWNERS' EQUITY Dollars ($) 400,000 900,000 5,000,000 6,300,000 Shares are currently trading around $51 each. What impact would a 10% stock dividend have on the equity accounts? Provide the updated numbers for each line item following the dividend.
If Lucky Corporation's equity section shows these accounts: Common stock ($ 1 par value) $400,000 Additional paid in capital in excess of Par: Common stock 200,000 What was the issue price per share of common stocks? (Note: Write your answer as a number with no commas or dollar sig Answer: 耳 e here to search

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