com/ilm/takeAssignment/TakeAssignmentMain dowokatkoignmentSession.caterinprogress-beBookStockholders Coility Section of Balance SheetThe following accounts and their balances appear in the lodger of Yonah Properties Inc. on November 30 of the current year:Common Stock, $15 parPaid-In Capital in Excess of ParPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury StockPrepare the "Stockholders' Equity section of the balance sheet as of November 30. A total of 50,000 shares of common stock are authorized, and 555 shares have beenreacquired.Yonah Properties Inc.Stockholders' Equity Section of the Balance SheetNovember 30Line Item DescriptionPaid-In Capital:TotalShow Me How VideoTotal paid-in capitalTotalTotal Stockholders' EquityAmount Amount AmountAccounting numeric field$169,50013,5607,300250,00010,5450TO

The shareholder's equity section represents the total amount that belongs to the shareholders. The…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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Closet Organizers Inc. sells closet organizing systems. Selected accounts and their balancesas of September 30, the end of the current year are: Common Stock, $42 par 12,810,000Paid-in Capital from Sale of Treasury Stock-Common 330,000Paid-in Capital in Excess of Par - Common Stock 453,000Paid-in Capital in Excess of Par - Preferred Stock 156,000Preferred 2% stock, $100 par 520,000Retained Earnings 64,358,000Treasury Stock-Common 1,006,250 Prepare the Stockholder's Equity section of the balance sheet as of September 30, the end ofthe current year using Method 1 of Exhibit 8. Preferred stock has sixty thousand shares authorizedand common stock has four hundred thousand shares authorized. There are twenty-fivethousand shares of common stock held as treasury stock.
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Journalizing dividends and treasury stock transactions and preparing the stockholders’ equity section of the balance sheet Deerborn Manufacturing Co. completed the following transactions during 2018: Requirements Record the transactions in Deerborn’s general journal. Prepare the Deerborn’s stockholders’ equity section of the balance sheet as of December 31, 2018. Assume that Deerborn was authorized to issue 2,600 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and Common stock were issued at par. The ending balance of retained earnings as of December 31, 2018, is $2,060,000.
Analyzing and Computing Issue Price, Treasury Stock Cost, and Shares Outstanding Following is the stockholders' equity section of the 2018 Merck & Co. Inc. balance sheet. Stockholders' Equity ($ millions, except par value) 2018 Common stock, $0.50 par value; 6,500,000 authorized shares; 3,577,107,522 issued shares $1,789 Other paid-in capital 31,046 Retained earnings 34,063 Accumulated other comprehensive loss (4,436) Stockholders' equity before deduction for treasury stock $62,103 Less treasury stock, at cost: 984,543,979 shares Total Merck & Co. Inc. stockholders' equity 40,743 $21,360 a. Show the computation of the $1,789 million in the common stock account. shares x $ per share is approximately $ million on the balance sheet. b. At what average price were the Merck common shares issued? Note: Round your answers to two decimal places (for example, enter 67.49 for 67.48555). per share c. At what average cost was the Merck treasury stock purchased? Note: Round your answers to two…
Required information [The following information applies to the questions displayed below.] 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 Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $0 13,000 28,600 Basec the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. Average price 41,600 46,000 (2,300) $85,300 3. Total paid-in capital is $41.60 million. At what average price per share were the common shares issued? per share
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Assessing Financial Statement Effects of Equity Method SecuritiesUse the financial statement effects template to record the following transactions involving investments in marketable securities accounted for using the equity method.a. Purchased 12,000 common shares of Bakersfield Co. at $10 per share; the shares represent 30% ownership in Bakersfield.b. Received a cash dividend of $1.50 per common share from Bakersfield.c. Bakersfield reported annual net income of $75,000.d. Sold all 12,000 common shares of Bakersfield for $128,500.Use negative signs with answers, if appropriate. Balance Sheet Income Statement Noncash Contrib. Earned Transaction Cash Asset + Assets = Liabilities + Captial + Capital Revenues - Expenses = Net income a. Purchased shares of Bakersfield. Answer Answer Answer Answer Answer Answer Answer Answer b. Received cash dividend from Bakersfield. Answer Answer Answer Answer Answer Answer Answer Answer c.…
Journalizing issuance of stock for assets other than cash Cedar Corporation issued 36,000 shares of $1 par value common stock in exchange for a building with a market value of $160,000. Record the stock issuance.
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A company issues 50,000 shares of common stock to retire 15-year bonds payable. This transaction would be reported on the statement of cash flows in O a. the cash flows from investing activities section O b. the cash flows from operating activities section O c. a separate section at the bottom O d. the cash flows from financing activities section
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