Pronghorn Corporation has the following account balances at December 31, 2020. Common stock, $5 par value $509,000 Treasury stock 81,000 Retained earnings 2,412,000 Paid-in capital in excess of par—common stock 1,298,000 Prepare Pronghorn’s December 31, 2020, stockholders’ equity section. (Enter account name only and do not provide descriptive information.)
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| Common stock, $5 par value | $509,000 | |
| 81,000 | ||
| 2,412,000 | ||
| Paid-in capital in excess of par—common stock | 1,298,000 |
Prepare Pronghorn’s December 31, 2020,
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- Current Attempt in Progress Your answer is incorrect. At January 1, 2020, Larkspur Company's outstanding shares included the following. 258,000 shares of $50 par value, 7% cumulative preferred stock 812,000 shares of $1 par value common stock Net income for 2020 was $2,521,000. No cash dividends were declared or paid during 2020. On February 15, 2021, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears prior to 2020. On April 1, 2020, 408,000 shares of common stock were sold for $10 per share, and on October 1, 2020, 106,000 shares of common stock were purchased for $20 per share and held as treasury stock. Compute earnings per share for 2020. Assume that financial statements for 2020 were issued in March 2021. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $Drake Co. summarized select account balances on December 31, 2020, and activity for 2020 in the following table. Retained earnings, beginning balance $60,000 Common stock, $1 par, 100,000 shares authorized, 50,000 shares issued 40,000 Treasury stock, 1,000 shares 10,500 Paid-in capital in excess of par 440,000 Accumulated other comprehensive income 25,000 Investment in stock 100,000 Bonds payable 50,000 Net income for 2020 (not included in retained earnings above) 12,000 Dividends declared and paid during 2020 (not included in retained earnings above) 5,000 Noncontrolling interests 2,500 Based on the information provided, what is total stockholders’ equity on December 31, 2020? Select one: a. $559,000 b. $585,000 c. $564,000 d. $574,000Tamarisk Corporation's adjusted trial balance contained the following accounts at December 31, 2020: Retained Earnings $126,000, Common Stock $765,600, Bonds Payable $109,700, Paid-in Capital in Excess of Par-Common Stock $208,700, Goodwill $59,300, Accumulated Other Comprehensive Loss $154,700, and Noncontrolling Interest $34,200. Prepare the stockholders' equity section of the balance sheet.
- The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Line Item Description Amount Common Stock, $15 par $154,500 Paid-In Capital from Sale of Treasury Stock 6,700 Paid-In Capital in Excess of Par—Common Stock 12,360 Retained Earnings 255,000 Treasury Stock 9,595 Prepare the "Stockholders' Equity" section of the balance sheet as of June 30. Regarding the common stock, 50,000 shares are authorized, and 505 shares have been reacquired.(b) Prepare the stockholders' equity section at December 31, 2020. (Enter account name only and do not provide descriptive information.) Buffalo Company Balance Sheet (in millions of dollars) (Partial) Paid-in Capital: Paid-in Capital Common Stock- Additional Paid-in Capital subt Less Treasury Stock Total Stockholders' Equity eTextbook and Medial List of Accounts 1000000The post-closing trial balance of Storey Corporation at December 31, 2020, contains the following stockholders' equity accounts: Stockholders' Equity Section Preferred stock (15,000 shares issued) Common Stock (250,000 shares issued) Paid-in capital in excess of par-Preferred stock Paid-in capital in excess of par-Common stock $ 750,000 2,500,000 250,000 400,000 250,000 1,042,000 Common stock dividends distributable Retained earnings A review of the accounting records reveals the following: • Preferred stock is $50 par, 6%, and cumulative; 15,000 shares have been outstanding since January 1, 2019. • Authorized stock is 20,000 shares of preferred, and 500,000 shares of $10 par value common. • The January 1 balance in Retained Earnings was $1,170,000. • Net income for the year was $585,000. The following transactions also occurred during the year: July 1 20,000 shares of common stock were issued for cash at $16 per share. Oct 1 A cash dividend of $250,000 was declared and properly…
- The stockholder's equity section of the balance sheet contains. .common stock .preferred stock .Additional stock .other accumulated comprehensive income. .Retained earnings It is important to understand how changes in the accounts impact the balance sheet and the financial position of the organization Genaing inc.has $200,000 of 5%, $10 par value preferred stock and $450,000 of $5 par value common stock issued and outstanding Dec. 31,2021 There were no stock issuance, stock splits or stoxk dividends for 2021. The organization's calender end is on Dec.31 2021. Preferred stock did not receive any dividends for 2019 or 2020 because the company did not have enough cash reserves to pay out dividends. The preferred stock has a mix characteristics .10% of the preferred stock is noncumulative, nonparticipating .20% of the preferred stock is cumulative, nonparticipating .20% of the preferred stock is noncumulative ,participating .50 of the preferred stock is cumulative, participating The…The stockholders' equity accounts of Wildhorse Company have the following balances on December 31, 2025. Common stock, $10 par, 292,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings $2,920,000 1,320,000 5,080,000 Shares of Wildhorse Company stock are currently selling on the Midwest Stock Exchange at $33. Prepare the appropriate journal entries for each of the following cases. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) a. A stock dividend of 6% is (1) declared and (2) issued. b. A stock dividend of 100% is (1) declared and (2) issued. C. A 2-for-1 stock split is (1) declared and (2) issued. No. Account Titles and Explanation a. (1) a. (2) b. (1) b. (2) c. (1) c. (2) Debit CreditStrugging with the journal entries. Please see my attempt attached and provide direction based on the following scenario On January 1, 2022, Frasier Corporation had the following stockholders’ equity accounts. Common Stock ($20 par value, 66,500 shares issued and outstanding) $1,330,000Paid-in Capital in Excess of Par—Common Stock 190,000Retained Earnings 579,000 During the year, the following transactions occurred. Feb. 1 Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1.Mar. 1 Paid the dividend declared in February.Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $35.July 1 Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $14 per share.31 Issued the shares for the stock dividend.Dec. 1 Declared a $0.30 per share dividend to stockholders of…
