Stockholders' Equity: Transaction Descriptions from Account DataThe following T-accounts contain keyed entries representing five transactions involving the stockholders' equity of Riverview, Inc.:Land(1) 65,000(2)54,000(5)Date12Cash*1,200 shares of common stock3410,920518,000 (4)Preferred Stock, $55 Par55,000 (1)RequiredUsing this information, give detailed descriptions, including number of shares and price per share when applicable, for each of the five transactions.General JournalPaid-in Capital in Excess of Parvalue-Common Stock7.000 (3)Paid-in Capital from TreasuryStock3,120 (5)Common StockDescriptionPaid-in-Capital in Excess of Par Value - Preferred StockIssued shares of preferred stock at per share.Issued shares of common stock at par value.Issued shares of common stock in exchange for land.Treasury Stock - CommonPurchased shares of treasury stock for per share.Sold shares of treasury stock for per share.♦ $+"÷+47÷+(3) 91,000DebitPaid-in Capital in Excess of Parvalue-Preferred Stock10,000 (1)$Common Stock, $12 Par54,000 (2)84,000 (3)CreditTreasury Stock18,000* 7,800 (5)

The journal entries are prepared to record the transactions on regular basis. The T-accounts are…

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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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Reporting stockholders' equity Using the following accounts and balances, prepare the Stockholders'Equity section of the balance sheet using Method 1 of Exhibit 8. Five hundred thousand shares of common stock are authorized, and 40,000shares have been reacquired.
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Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity se Common Stock, $70 par $5,600,000 Paid-In Capital from Sale of Treasury Stock 112,000 Paid-In Capital in Excess of Par-Common Stock 2,160,000 Retained Earnings 2,800,000 Treasury Stock 67,000 Stockholders' Equity Paid-in capital: Total Paid-In Capital Total Stockholders' Equity
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The stockholders' equity section of World of Camping is presented here. WORLD OF CAMPING Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 11,000,000 common shares Total stockholders' equity $5,400,000 24,000,000 784,200,000 813,600,000 282,000,000 (286,000,000) $809,600,000 Based on the stockholders' equity section of World of Camping, answer the following questions. ■ired: w many shares of preferred stock have been issued? ber of shares
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Reporting Stockholders' Equity Using the following accounts and balances, prepare the “Stockholders’ Equity” section of the balance sheet. 30,000 shares of common stock authorized, and 1,000 shares have been reacquired. Common Stock, $60 par $1,080,000 Paid-In Capital from Sale of Treasury Stock 43,000 Paid-In Capital in Excess of Par—Common Stock 378,000 Retained Earnings 594,000 Treasury Stock 22,000 Balance Sheet Stockholders' Equity Paid-in capital: $ Paid-in capital, common stock $ Total paid-in capital $ Total $ Total stockholders' equity $
The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and 20Y5: December 31 20Y7 20Y6 20Y5 Total assets $174,000 $157,000 $140,000 Notes payable (8% interest) 60,000 60,000 60,000 Common stock 24,000 24,000 24,000 Preferred 6% stock, $100 par 12,000 12,000 12,000 (no change during year) Retained earnings 63,550 47,100 36,000 The 20Y7 net income was $17,170, and the 20Y6 net income was $11,820. No dividends on common stock were declared between 20Y5 and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7. a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders’ equity for the years 20Y6 and 20Y7. When required, round to one decimal place. 20Y7 20Y6 Return on total assets fill in the blank 1 % fill in the blank 2 % Return on stockholders’ equity fill in the blank 3 % fill…
The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders' equity: Preferred stock, $50 par value $0 Common stock, $5 par value 19,500 Additional paid-in capital 93,600 Total paid-in capital 113,100 Retained earnings 52,500 Treasury stock (3,600 Total stockholders' equity $162,000 Based on the stockholders’ equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. 3. Total paid-in capital is $113.10 million. At what average price per share were the common shares issued? Common share issued per share
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