QUESTION 1 Evan Corporation' charter authorized the following capital stock: Preferred stock: 8 percent, par $10, authorized 10,000 shares Common stock: par $1.3, authorized 50,000 shares. Since inception, Skyhawk sold 7,521 shares of the common stock at $9.1per share and 3,043 shares of the preferred stock at $18. The ending retained earnings was $73,264 On the statement of stockholders' equity, the total contributed capital would be reported as $

QUESTION 1 Evan Corporation' charter authorized the following capital stock: Preferred stock: 8 percent, par $10, authorized 10,000 shares Common stock: par $1.3, authorized 50,000 shares. Since inception, Skyhawk sold 7,521 shares of the common stock at $9.1per share and 3,043 shares of the preferred stock at $18. The ending retained earnings was $73,264 On the statement of stockholders' equity, the total contributed capital would be reported as $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Jager Metal Corp. Equity Section of the Balance Sheet November 30, 2023 Contributed capital: Preferred shares, $13.20 cumulative, 2,000 shares authorized and issued Common shares, unlimited shares authorized; 60,000 shares issued Total contributed capital Retained earnings Total equity Required Refer to the equity section above. Assume that the preferred shares are convertible into common at a rate of 6 common share for each share of preferred. If 1,000 shares of the preferred are converted into common shares on December 1, 2023, prepare the entry and describe how this affects the equity section of the balance sheet after the conversion. $ 480.000 1,440.000 $1,920,000 1,008,000 $2.928,000
Selected Stock Transactions Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Illinois. The following selected accounts appear in the ledger of Diamondback Welding & Fabrication at the beginning of the current year: Preferred 2% Stock, $100 par (80,000 shares authorized, 40,000 shares issued) $4,000,000 Paid-In Capital in Excess of Par—Preferred Stock 800,000 Common Stock, $10 par (700,000 shares authorized, 190,000 shares issued) 1,900,000 Paid-In Capital in Excess of Par—Common Stock 250,000 Retained Earnings 14,734,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Purchased 42,000 shares of treasury common for $13 per share. Sold 21,000 shares of treasury common for $16 per share. Issued 20,000 shares of preferred 2% stock at $116. Issued 70,000 shares of common stock at $17, receiving cash. Sold 14,000 shares of treasury common…
MAKE T-ACCOUNT for the following: Ordinary shares Preference shares Share premium- Ordinary shares Share premium- Preference shares Share premium- Treasury shares Total additional paid-in capital Total contributed capital Total stockholders’ equity
Selected stock transactions Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Illinois. The following selected accounts appear in the ledger of Diamondback Welding & Fabrication at the beginning of the current year: Line Item Description Amount Preferred 2% Stock, $80 par (100,000 shares authorized, 60,000 shares issued) $4,800,000 Paid-In Capital in Excess of Par—Preferred Stock 210,000 Common Stock, $9 par (3,000,000 shares authorized, 1,750,000 shares issued) 15,750,000 Paid-In Capital in Excess of Par—Common Stock 1,400,000 Retained Earnings 52,840,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Purchased 87,500 shares of treasury common for $8 per share. Sold 55,000 shares of treasury common for $11 per share. Issued 20,000 shares of preferred 2% stock at $84. Issued 400,000 shares of common stock at $13, receiving cash. Sold…
Question: How much is the total legal capital contribution?
QUESTION 6 Skyhawk Corporation' charter authorized the following capital stock: Preferred stock: 8 percent, par $11, authorized 10,000 shares. Common stock: par $2.5, authorized 50,000 shares. Since inception, Skyhawk sold 8777 shares of the common stock at $5.5per share and 1275 shares of the preferred stock at $17. On the statement of stockholders' equity, Preferred Stock would be reported as $
Checl Common stock, $1 par; authorized, 8 mil1lion shares; issued and outstanding, 3 million shares Paid-in capital-excess of par Retained earnings $ 3,000,000 12,000,000 14,000,000 On April 1, 2021, the board of directors of Core Technologiles declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies'.common stock was $30 on April1, 2021, and $40 on June 1, 2021. Required: Complete the below table to calculate the stock dividend. Prepare the journal entries to record the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. General, Journal Stock Dividend Complete the below table to calculate the stock dividend. Stock Dividend Number of outstanding shares Stock dividend percentage (%) Number of shares to be issued S. Value of stock dividend General Journal Question no...pages Question no...pages %24
Subject: acounting
Journalizing issuance of stock—at par and at a premium Colorado Corporation has two classes of stock: common, $3 par value; and preferred $30 par value. Requirements Journalize Colorado’s issuance of 4,500 shares of common stock for $6 per share. Journalize Colorado’s issuance of 4,500 shares of preferred stock for a total of $135,000.
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