Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 120,000 shares of $4 par value common stock. During 2021, Roberto had the following transactions relating to stockholders' equity: Issued 12,000 shares of common stock at $6 per share. Issued 24,000 shares of common stock at $7 per share. Reported a net income of $120,000. Paid dividends of $60,000. Purchased 3,000 shares of treasury stock at $9 (part of the 24,000 shares issued at $7). What is total stockholders' equity at the end of 2021?

Q: Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1…

A:

Q: autical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the…

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…

Q: Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par…

A: Dividends can only be declared if the corporation has sufficient unrestricted retained earnings. On…

Q: Crazy Corporation was incorporated on January 1, 2023. Crazy is authorized to issue 80,00 shares of…

A: The journal entries are prepared to record the transactions on regular basis. The adjustment entries…

Q: Kohler Corporation reports the following components of stockholders' equity at December 31, 2019.…

A: The statement of owners' equity is prepared to record the issuance of shares and retained earnings…

Q: Anslo Fabricating, Inc. is authorized to issue 10,000,000 shares of $5 stated value common stock.…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Whispering Winds Corporation began operations on April 1 by issuing 59,500 shares of $5 par value…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 150,000 shares…

A: Stockholder Equity Statement-A financial report that is included in the financial statements that…

Q: Prepare the journal entries for all these transactions. Each transaction is independent from the…

A: When stock are issued at price which is more than the par value, the excess amount is transferred to…

Q: Anslo Fabricating, Inc. is authorized to issue 10,000,000 shares of $5 stated value common stock.…

A: ALSO FABRICATING INC…

Q: Sunland Corporation was organized on January 1, 2025. It is authorized to issue 9,800 shares of 8%,…

A: Journal Entry :— It is an act of recording transaction in books of account when transaction…

Q: The charter for Zenith, Inc., authorizes the company to issue 250,000 shares of $9, no-par preferred…

A: Stockholders equity section represents all the remaining value of assets after settling all the…

Q: Frederic Chopin Corporation is preparing its December 31, 2020, balance sheet. The following items…

A: 1. No. of share of common stock outstanding = Total sahres issued - treasury share = 1,000,000-…

Q: Cullumber Company was organized on January 1, 2019. It is authorized to issue 10,000 shares of 8%,…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Crimson Pottery Corporation is authorized to issue 40,000 shares of $7 convertible preferred shares…

A: A journal entry is the first step in recording financial transactions in the books of business…

Q: Blossom Corporation was organized on January 1, 2019. During its first year, the company issued…

A: A dividend is that portion of the company's profits and retained earnings that the entities are…

Q: When Wisconsin Corporation was formed on January 1, the corporate charter provided for 99,900 shares…

A: The amount received in excess of par value common stock is to be credited to "Paid in capital in…

Q: Adham Corporation was organized on January 1, 2019. During its first year, the corporation issued…

A: (1) Allocation of dividends to each class of stock, assuming that the preferred stock is 9% and not…

Q: Purple Cab Company had 50,000 shares of common stock outstanding on January 1, 2021. On April 1,…

A: Weighted average outstanding common stock =  50000 shares + 20000*9/12…

Q: Sweet Corporation was organized on January 1, 2020. It is authorized to issue 9,200 shares of 8%,…

A: When shares of the company are being issued at a value more than par value, then it means shares are…

Q: Sunland Corporation was organized on January 1, 2021. During its first year, the corporation issued…

A: ANSWER:- a)                     Allocation Of Dividends To Each Class Of Stock Dividend Is 6% And…

Q: Anslo Fabricating, Inc. is authorized to issue 10,000,000 shares of $5 stated value common stock.…

A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Q: Trading securities, by definition, are properly classified in the statement of financial position…

A: Statement of financial position is also known as balance sheet, which is prepared at the year-end to…

Q: Roberto Designers was organized on January 1, 2018. The firm was authorized to issue 200,000 shares…

A: Stockholders' equity refers to the amount which belongs to the owners of the business. This includes…

Q: Ayayai Ltd. was incorporated on January 1, 2024. During the year the company entered into the…

A: Treasury stock is reacquired or repurchased of previously outstanding shares of the entity. It is…

Q: Coda Corporation was organized on January 1, 2019, with an authorization of 2,000,000 shares of $5…

A: Formula: Amount received on issue of shares = Number of shares issued x Issue price Multiplying…

Q: Basil Corporation is authorized to issue 900,000 shares of $10 par value common stock, and 200,000…

A: The Numerical has covered the concept of Journal entry relating to the stock purchase and sell.

Q: Rizzo Corp. began operations on Jan. 1, 2023.  Rizzo Corp. is authorized to issue 250,000 shares of…

A: Treasury stock is to be measured at cost (cost of repurchase value)  Any difference between reissue…

Q: Blue Spruce Corporation began operations on April 1 by issuing 60,500 shares of $5 par value common…

A: The journal entry is the format under which the business entity identifies, evaluates, and analyses…

Q: Sheridan Corporation has 100,000 shares of $40 par value preferred stock authorized. During the…

A: Preferred stock represents ownership in a corporation with fixed dividends, typically paid before…

Q: Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 100,000 shares…

A: Initial  issue of  shares 10000 Additional  issue of share 20000 Dividend  paid and Treasury  stock…

Q: rin Limited is a private company that follows ASPE. It is authorized to issue an unlimited number of…

A: Equity section of balance sheet how much are changes to the equity section of balance sheet and how…

Q: What is the total amount recorded in the Common Stock account at the end of 20X2?   Select one:…

A: Total Shareholders' Equity  = Common Stock + Retained Earnings

Q: Poodle Corporation was organized on January 3, 2024. The firm was authorized to issue 96,000 shares…

A: The objective of the question is to calculate the total paid-in capital at the end of 2024 for…

Q: Whispering Winds Corp. was organized on January 1, 2020. It is authorized to issue 14,000 shares of…

A: Journal entry is the process of recording the business transactions in the books of accounts for the…

Q: Sunland Corporation was organized on January 1, 2021. During its first year, the corporation issued…

A: Stock refers to the shares of which the ownership of company is divided whereas the preferred stock…

Q: Bonita Corporation was organized on January 1, 2020. It is authorized to issue 10,100 shares of 8%,…

A: Journal entries are entered in a systematic order in the books of accounts of the company. Journal…

Q: During its first year of operations, Zhang's Electronics Incorporated completed the following…

A: Shares are issued by the company to raise funds to the organization. Company can issue shares either…

Q: Milton Company's charter authorizes 1,000,000 shares of common Graded Discussion stock and 400,000…

A: Stock: It refers to a security issued in a form of certificate. It implies the right of ownership of…

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.