Stockholders' Equity Paid-In Capital: Common Stock-$10 Par Value; 350,000 shares authorized, 32,000 shares issued and outstanding $ 320,000 Paid-In Capital in Excess of Par-Common Total Paid-In Capital 330,000 650,000 Retained Earnings Total Stockholders' Equity 160,000 $ 810,000 Feb. 6 Declared a 15% stock dividend on common stock. The market value of Goldstein's stock was $25 per share. 15 Distributed the stock dividend. Jul. 29 Purchased 2,300 shares of treasury stock at $25 per share. Nov. 27 Declared a $0.10 per share cash dividend on the common stock outstanding.
Stockholders' Equity Paid-In Capital: Common Stock-$10 Par Value; 350,000 shares authorized, 32,000 shares issued and outstanding $ 320,000 Paid-In Capital in Excess of Par-Common Total Paid-In Capital 330,000 650,000 Retained Earnings Total Stockholders' Equity 160,000 $ 810,000 Feb. 6 Declared a 15% stock dividend on common stock. The market value of Goldstein's stock was $25 per share. 15 Distributed the stock dividend. Jul. 29 Purchased 2,300 shares of treasury stock at $25 per share. Nov. 27 Declared a $0.10 per share cash dividend on the common stock outstanding.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Journalizing dividend and
The
During 2018, Goldstcin completed thc Following selected transactions:
Requirements
- Record the transactions in the general journal.
- Prepare a retained earnings statement for the year ended December 31, 2018. Assume Goldstein’s net income for the year was $90,000.
- Prepare the stockholders’ equity section of the balance sheet at December 31, 2018.
Transcribed Image Text:Stockholders' Equity
Paid-In Capital:
Common Stock-$10 Par Value; 350,000 shares
authorized, 32,000 shares issued and outstanding
$ 320,000
Paid-In Capital in Excess of Par-Common
Total Paid-In Capital
330,000
650,000
Retained Earnings
Total Stockholders' Equity
160,000
$ 810,000
Transcribed Image Text:Feb. 6 Declared a 15% stock dividend on common stock. The market value of
Goldstein's stock was $25 per share.
15 Distributed the stock dividend.
Jul. 29 Purchased 2,300 shares of treasury stock at $25 per share.
Nov. 27 Declared a $0.10 per share cash dividend on the common stock outstanding.
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