Presentation of Stockholders' Equity Yeager Corporation was organized in January 2019. During 2019, Yeager engaged in the following stockholders' equity activities: a. Secured approval for a corporate charter that authorizes Yeager to sell 500,000, $10 par common shares and 40,000, $100 par preferr b. Sold 60,000 of the common shares for $16 per share. c. Sold 2,000 of the preferred shares for $102 per share. d. Repurchased 550 of the common shares for the treasury at a cost of $18 each. e. Earned net income of $31,300. f. Paid dividends of $6,000. Required: Prepare the stockholders' equity portion of Yeager's balance sheet as of December 31, 2019. Yeager Corporation Balance Sheet (Partial) December 31, 2019 Stockholders' Equity: Additional paid-in capital: Total capital stock 00 000 8
Presentation of Stockholders' Equity Yeager Corporation was organized in January 2019. During 2019, Yeager engaged in the following stockholders' equity activities: a. Secured approval for a corporate charter that authorizes Yeager to sell 500,000, $10 par common shares and 40,000, $100 par preferr b. Sold 60,000 of the common shares for $16 per share. c. Sold 2,000 of the preferred shares for $102 per share. d. Repurchased 550 of the common shares for the treasury at a cost of $18 each. e. Earned net income of $31,300. f. Paid dividends of $6,000. Required: Prepare the stockholders' equity portion of Yeager's balance sheet as of December 31, 2019. Yeager Corporation Balance Sheet (Partial) December 31, 2019 Stockholders' Equity: Additional paid-in capital: Total capital stock 00 000 8
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Problem 10-81A (Algorithmic).
Presentation of Stockholders' Equity
Yeager Corporation was organized in January 2019. During 2019, Yeager engaged in the following stockholders' equity activities:
a. Secured approval for a corporate charter that authorizes Yeager to sell 500,000, $10 par common shares and 40,000, $100 par preferred shares.
b. Sold 60,000 of the common shares for $16 per share.
c. Sold 2,000 of the preferred shares for $102 per share.
d. Repurchased 550 of the common shares for the treasury at a cost of $18 each.
e. Earned net income of $31,300.
f. Paid dividends of $6,000.
Required:
Prepare the stockholders' equity portion of Yeager's balance sheet as of December 31, 2019.
Yeager Corporation
Balance Sheet (Partial)
December 31, 2019
Stockholders' Equity:
Additional paid-in capital:
Total capital stock
000
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