Sheridan Corporation's December 31, 2020 balance sheet showed the following:8% preferred stock, $20 par value, 19000 sharesauthorized; 14000 shares issuedCommon stock, $10 par value, 1990000 shares authorized;1940000 shares issued, 1920000 shares outstandingPaid-in capital in excess of par-preferred stockPaid-in capital in excess of par-common stockRetained earningsTreasury stock (19400 shares)Sheridan's total stockholders' equity wasO $51538900$ 2800001940000060000235000007650000611100

The shareholders find to represent the total funds belonging to the shareholders. The treasury…

Answered: Sheridan Corporation's December 31,…

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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coronado corporation has the following capital stock outstanding at december 31, 2020: 7% preferred stock, $100 par value, 15,800 shares issued and outstanding $1580000 common stock, no par, $10 stated value, 500000 shares authorized, 360000 shares issued and outstanding 3600000 the preferred stock was issued at a $130 per share. the common stock was issued at an average per share price of $14. prepare the paid-in capital section of the balance sheet at dec 31, 2020.
Metlock Corporation's December 31, 2020 balance sheet showed the following: 6% preferred stock, $20 par value, cumulative, 35000 shares authorized; 19000 shares issued $ 380000 Common stock, $10 par value, 3,000,000 shares authorized; 1,950,000 shares issued, 1,920,000 shares outstanding 19500000 Paid-in capital in excess of par value - preferred stock 66000 Paid-in capital in excess of par value - common stock 27900000 Retained earnings 8950000 Treasury stock (30,000 shares) 525000 Metlock's total paid-in capital was $48371000. $47846000. $27946000. $47321000.
asap Bramble Corporation’s December 31, 2020 balance sheet showed the following: 7% preferred stock, $20 par value, 18300 shares authorized; 13300 shares issued $ 266000 Common stock, $10 par value, 1930000 shares authorized; 1880000 shares issued, 1860000 shares outstanding 18800000 Paid-in capital in excess of par—preferred stock 59500 Paid-in capital in excess of par—common stock 24900000 Retained earnings 7670000 Treasury stock (19800 shares) 623700 Bramble’s total stockholders’ equity was $44051800. $51695500. $52331800. $51071800.
G. The stock holders' equity section of the statement of financial position of Calubcub Company at December 31, 2019, is given below: Stock holders' equity: Commons stock, P10 par value. 200,000 shares authorized, 80,000 shares issued and outstanding Premium on Ordinary share capital 800,000 400,000 P 1,200,000 2,500,000 P 3,700,000 P Total paid in capital Retained earnings Total stockholders' equity
The stockholders' equity accounts of Skysong, Inc. on January 1, 2022, were as follows. Preferred Stock (8%, $50 par, cumulative, 10,500 shares authorized) Common Stock ($1 stated value, 1,900,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (10,500 common shares) $400,000 1,250,000 135,000 1,400,000 1,800,000 52,500 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 25,000 shares of common stock for $121,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $32,800. Sept. 3 Issued 5,000 shares of common stock for a patent valued at $34,200. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5,900. Dec. 31 Determined that net income for the year was $410,000. No dividends were declared during the year. Tul Journalize the transactions and the closing entry for net income.…
Bramble Corp.’s December 31, 2020 balance sheet showed the following: 6% preferred stock, $10 par value, cumulative, 35000 shares authorized; 23000 shares issued $ 230000 Common stock, $10 par value, 4,000,000 shares authorized; 2,600,000 shares issued, 2,560,000 shares outstanding 20000000 Paid-in capital in excess of par value - preferred stock 65000 Paid-in capital in excess of par value - common stock 28400000 Retained earnings 9650000 Treasury stock (40,000 shares) 450000 Bramble's total paid-in capital was
The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2020: Paid-in capital: Preferred stock, 7.5%, 88,000 shares at $1 par Common stock, 383,800 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings $ 88,000 383,800 1,505,000 2,555,000 •8,845,000 (41,800) Treasury stock, at cost; 3,800 common shares Total shareholders' equity $13,335,000 During 2021, several events and transactions affected the retained earnings of Consolidated Paper.
Coronado Corporation’s December 31, 2020 balance sheet showed the following: 9% preferred stock, $20 par value, cumulative, 15100 shares authorized; 5100 shares issued $ 102000 Common stock, $10 par value, 1010000 shares authorized; 960000 shares issued, 930000 shares outstanding 9600000 Paid-in capital in excess of par—preferred stock 28000 Paid-in capital in excess of par—common stock 11460000 Retained earnings 3790000 Treasury stock (15100 shares) 317100 Coronado’s total paid-in capital was $20872900. $11240000. $21190000. $21507100.
The stockholders' equity section of Flounder Corporation shows the following on December 31, 2021: Preferred stock—4%, $100 par, 4,700 shares outstanding $470,000 Common stock—$10 par, 62,000 shares outstanding 620,000 Paid-in capital in excess of par 180,000 Retained earnings 116,900 Total stockholders' equity $1,386,900 Assuming that all of the company's retained earnings are to be paid out in dividends on 12/31/21 and that preferred dividends were last paid on 12/31/19, show how much the preferred and common stockholders should receive if the preferred stock is cumulative and fully participating.
The Stockholders' Equity accounts of ExxonMobil on December 31, 2022 were as follows: Preferred Stock ( 6%, $100 par, cumulative, 800 authorized) $720,000 Common Stock ( $3 par, 1,500,000 authorized) $1,080,000 (360000 Common Stock) APIC - Preferred Stock $108,000 APIC - Common Stock $840,000 Retained Earnings $936,000 Treasury Stock - Common ($9 cost) 54,000 During 2023, ExxonMobil had the following transactions and events pertaining to its stockholders' equity: March 21: Issued 24,000 shares of Common Stock in exchange for Land. On the date of purchase, the Land had a Fair Market Value of $252,000 and the stock was selling for $11 per share. April 17: Sold 1,800 shares of Treasury Stock - Common for $12 per share. November 22: Purchased 800 shares of Common Stock for the Treasury at a cost of $7,600. December 31: Determine that net income for the year was $555,600. Dividends were declared and paid during December. These dividends included a $0.20 per share dividend to common…
The stockholders' equity section of Waterway Corporation appears below as of December 31, 2025. 8% preferred stock, $50 par value, authorized 114,400 shares, outstanding 104,400 shares Common stock, $1.00 par, authorized and issued 10,000,000 shares Additional paid-in capital Retained earnings (includes 2025 net income of $38.280,000) Total stockholders' equity $5,220,000 10,000,000 23,780,000 193,720,000 232.720,000 Earnings per share. Net income for 2025 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of $20,880,000 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $417,600 were declared and paid in 2025. Dividends of $1,160,000 were declared and paid to common stockholders in 2025, Compute earnings per share data as it should appear on the income statement of Waterway Corporation. (Round answers to 2 decimal places, e.g. 1.48.) ...
The balance sheet of Consolidated Paper, Inc., Included the following shareholders' equity accounts at December 31, 2020: Paid-in capital: Preferred stock, 8.0, 93,000 shares at $1 par Common stock, 434,300 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 4,300 common shares ar $ 93,000 434,300 1,545,000 2,595,000 9,245,000 (51,600) $13,860,700 16 Total shareholders' equity During 2021, several events and transactions affected the retained earnings of Consolidated Paper. Required: 1. Prepare the appropriate entries for these events. a. On March 3, the board of directors declared a property dividend of 265,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $772,000). The investment shares had a fair value of $3 per share and were distributed March 31 to shareholders of record March 15. b. On May 3, a 5-for-4 stock split was…

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