Tamarisk Corporation has the following account balances at December 31, 2025.Common stock, $5 par valueTreasury stockRetained earnings$484,00094,0002,238,000Paid-in capital in excess of par-common stock 1,278,000Prepare Tamarisk's December 31, 2025, stockholders' equity section. (Enter account name only and do notprovide descriptive information.)TAMARISK CORPORATIONStockholders' EquityDecember 31, 2025$

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Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 22E

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The following data were taken from the balance sheet accounts of Wildhorse Corporation on December 31, 2024. Current assets Debt investments (trading) Common stock (par value $10) Paid-in capital in excess of par Retained earnings a. b. C. $513,000 605,000 Prepare the required journal entries for the following unrelated items. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) 501,000 Date 144,000 910,000 A 6% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $40. The par value of the common stock is reduced to $2 with a 5-for-1 stock split. A dividend is declared January 5, 2025, and paid January 25, 2025, in bonds held as an investment. The bonds have a book value of $104,000 and a fair…
On January 1, 2022, Whispering Winds Corp. had the following stockholders' equity balances. Common Stock (583,000 shares issued) Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings 1. During 2022, the following transactions and events occurred. 2. 3. 4. 5. $1,749,000 6. 477,000 174,900 577,000 Issued 58,300 shares of $3 par value common stock as a result of 10% stock dividend declared on December 15, 2021. Issued 30,500 shares of common stock for cash at $5 per share. Purchased 28,000 shares of common stock for the treasury at $6 per share. Declared and paid a cash dividend of $112,000. Sold 7,000 shares of treasury stock for cash at $6 per share. Earned net income of $342,000. Prepare a stockholders' equity statement for the year. (If an amount reduces the account balance then enter with negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
SW Company provides the Equity & Liability information below for analysis. SW Company had net income of $404,600 in 2023 and $311,800 in 2022. Equity and Liabilities Share capital-common (122,900 shares issued) Retained earnings (Note 1). Accrued liabilities Notes payable (current) Accounts payable Total equity and liabilities 2023 2022 $1,215,000 $1,215,000 413,800 311,300 9,800 6,600 79,700 61,400 56,600 175,500 $1,779,700 $1,765,000 Note 1: Cash dividends were paid at the rate of $1 per share in 2022 and $2 per share in 2023. Required: 1. Calculate the return on common share equity for 2022 and 2023. (Assume total equity was $1,469,000 at December 31, 2021.) (Round your answers to 1 decimal place.) 2022 2023 Return on equity % 2. Calculate the book value per shares for 2022 and 2023. (Round your answers to 2 decimal places.) 2022 2023 Book value per share
SW Company provides the Equity & Liability information below for analysis. SW Company had net income of $365, 700 in 2023 and $335,800 in 2022. Equity and Liabilities 2023 2022 Share capital-common (137,700 shares issued) $ 1,417,500 $ 1,417,500 Retained earnings (Note 1) 417,700 311, 300 Accrued liabilities 10,300 6,500 Notes payable (current) 82,700 65,500 Accounts payable 59,500 179,000 Total equity and liabilities $1,987,700 $ 1,979,800 Note 1: Cash dividends were paid at the rate of $1 per share in 2022 and $2 per share in 2023. Required: 1. Calculate the return on common share equity for 2022 and 2023. (Assume total equity was $1,454,000 at December 31, 2021.) (Round your answers to 1 decimal place.) 2. Calculate the book value per shares for 2022 and 2023. (Round your answers to 2 decimal places.)
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7. Financial Accounting: Assume the following is the stockholders' equity section of the 2019 Max & Co., Inc., balance sheet. Stockholders' Equity ($ millions) 2019: Common stock, one cent 5,400,000,000 shares; Issued-2,976,223,337 shares-2019 Other paid-in capital Retained earnings par value; Authorized- $29.8 6,900 37,918.9 52.3 44,901 26,984.4 $17,916.6 Accumulated other comprehensive income Less treasury stock, at cost; 794,299,347 shares-2019 Total stockholders' equity How many common shares are outstanding as of December 31, 2019?
The stockyholder's section of the balance sheet contains such as the following . Common stock . Preferred stock .Additional paid in capital . Other accumulated comprehensive income .retained earnings It is important to understand how changes in the accounts impact the balance sheet and the financial positions. Ginseng inc. Has $200, 000 of 5%, $10 par value preferred and $450,000 of $5 par value common stock issued outstanding on Dec.31, 2021. There were no stock issuance, stock splits or dividends for 2021. The organization's calender year end is Dec. 31, 2021. The preferred stock did not receive any dividends for 2019 or 2020 because the company did not have adequate cash reserves to pay out dividends. The preferred stock has a mix characteristics. . 10% of the preferred stock is noncumulative, nonparticipating . 20% of the preferred stock is cumulatuve , nonparticipating .20% of the preferred stock is nonculative, participating .50% of the preferred stock is cumulatuve,…
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: 1 Common stock, $47 par $3,073,800.00 2 Paid-In Capital from Sale of Treasury Stock 119,000.00 3 Paid-In Capital in Excess of Par-Common Stock 261,600.00 4 Retained Earnings 19,185,100.00 5 Treasury Stock 326,800.00 Prepare the Stockholders’ Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 8,600 shares have been reacquired. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Accounts and Amount Descriptions Common stock dividends Common stock, $47 par; 80,000 shares authorized, 65,400 issued Excess over par From sale of treasury stock…
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: 1 Common stock, $45 par $3,141,000.00 2 Paid-In Capital from Sale of Treasury Stock 122,400.00 3 Paid-In Capital in Excess of Par-Common Stock 279,200.00 4 Retained Earnings 20,530,300.00 5 Treasury Stock 332,500.00 Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 9,500 shares have been reacquired. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtractive or negative numbers use a minus sign.
Novak Company has the following stockholders' equity accounts at December 31, 2025. Common Stock ($100 par value, authorized 7,600 shares) $459,100 Retained Earnings 266,700 a. Prepare entries in journal form to record the following transactions, which took place during 2026 1. 290 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) 2. A $22 per share cash dividend was declared. 3. The dividend declared in (2) above was paid. 4. The treasury shares purchased in (1) above were resold at $101 per share. 5. 500 shares of outstanding stock were purchased at $103 per share. 6. 380 of the shares purchased in (5) above were resold at $96 per share. b. Prepare the stockholders' equity section of Novak Company's balance sheet after giving effect to these transactions, assuming that the net income for 2026 was $86,300. State law requires restriction of retained earnings for the amount of treasury stock.
Novak Company has the following stockholders' equity accounts at December 31, 2025. Common Stock ($100 par value, authorized 7,600 shares) $459,100 Retained Earnings 266,700 a. Prepare entries in journal form to record the following transactions, which took place during 2026 1. 290 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) 2. A $22 per share cash dividend was declared. 3. The dividend declared in (2) above was paid. 4. The treasury shares purchased in (1) above were resold at $101 per share. 5. 500 shares of outstanding stock were purchased at $103 per share. 6. 380 of the shares purchased in (5) above were resold at $96 per share. b. Prepare the stockholders' equity section of Novak Company's balance sheet after giving effect to these transactions, assuming that the net income for 2026 was $86,300. State law requires restriction of retained earnings for the amount of treasury stock.
Novak Company has the following stockholders' equity accounts at December 31, 2025. Common Stock ($100 par value, authorized 7,600 shares) $459,100 Retained Earnings 266,700 a. Prepare entries in journal form to record the following transactions, which took place during 2026 1. 290 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) 2. A $22 per share cash dividend was declared. 3. The dividend declared in (2) above was paid. 4. The treasury shares purchased in (1) above were resold at $101 per share. 5. 500 shares of outstanding stock were purchased at $103 per share. 6. 380 of the shares purchased in (5) above were resold at $96 per share. b. Prepare the stockholders' equity section of Novak Company's balance sheet after giving effect to these transactions, assuming that the net income for 2026 was $86,300. State law requires restriction of retained earnings for the amount of treasury stock. The answer is not 705,118

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