The following information was extracted from the records of Cascade Company at the end of the fiscal yeawere completed:Common stock ($0.01 par value; 230,000 shares authorized, 55,500 sharesissued, 53,500 shares outstanding)Additional paid-in capitalDividends declared and paid during the yearRetained earnings at the end of the yearTreasury stock at cost (2,000 shares)Net incomeCurrent stock priceRequired:1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year.2. Compute the dividend yield ratio. Determine the number of shares of stock that received dividends.Complete this question by entering your answers in the tabs below.Required 1 Required 2Compute the dividend yield ratio. Determine the number of shares of stock that received dividends.Note: Do not round your intermediate calculations. Round Dividend yield ratio to 2 decimal places.Dividend yield ratioNumber of shares%$ 555459,00023,500315,000(16;500)$ 96,500$ 10< Required 1Required 2 >> The following information was extracted from the records of Cascade Company at the end of the fiscal year after all adjusting entrieswere completed:Common stock ($0.01 par value; 230,000 shares authorized, 55,500 shares.issued, 53,500 shares outstanding)Additional paid-in capitalDividends declared and paid during the yearRetained earnings at the end of the yearTreasury stock at cost (2,000 shares)Net incomeCurrent stock priceRequired:1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year.2. Compute the dividend yield ratio. Determine the number of shares of stock that received dividends.Complete this question by entering your answers in the tabs below.Required 1 Required 2Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year.Note: Amounts to be deducted should be indicated with a minus sign.Stockholders' equity:Contributed capital:Cascade CompanyBalance Sheet (Partial)At December 31, Current YearTotal contributed capitalTotal stockholders' equity< Required 1$ 555459,00023,500315,000(16,500)$ 96,500$ 10Required 2 >< Prev8 of 8www‒‒‒Next

The retained earnings at year end is transferred to stockholders' equity section. The dividend is…

Answered: The following information was extracted…

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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Upperchurch Company reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 130,e00 shares authorized, 50,0e0 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 500,000 75,000 410,e00 Total stockholders' equity $ 985,000 During the year, the following transactions affected its stockholders' equity accounts. 2 Purchased 5,eee shares of its own stock at $23 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. 28 Paid the dividend declared on January 5. 6 Sold 1,98e of its treasury shares at $27 cash per share. 22 Sold 3,100e of its treasury shares at $20 cash per share. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Jan. Jan. Feb. July Aug. Sept. 28 Paid the dividend declared on September 5. 31 Closed the $214, eee credit balance (from net income) in…
Selected stock transactionsThe following selected accounts appear in the ledger of Upscale Construction, Inc. at the beginning of the current year:Preferred 2% stock, $80 par (200,000 shares authorized, 65,000 shares issued)$5,200,000Paid in Capital in Excess of Par-Preferred Stock360,000Common Stock, $12 par (3,000,000 shares authorized, 1,400,000 shares issued)16,800,000Paid in Capital in Excess of Par-Common Stock 1,290,000Retained Earnings110,900,000During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:a. Issued 220,000 shares of common stock at $15, receiving cash.b. Issued 6,000 shares of preferred 2% stock at $94.c. Purchased 130,000 shares of treasury common for $19 per share.d. Sold 70,000 shares of treasury common for $23 per share.e. Sold 40,000 shares of treasury common for $17 per share.f. Declared cash dividends of $1.60 per share on preferred stock and $0.14 per share on common stock.g. Paid…
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (100,000 shares authorized, 80,000 shares issued) $8,000,000 Paid-In Capital in Excess of Par—Preferred Stock 440,000 Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 shares issued) 20,000,000 Paid-In Capital in Excess of Par—Common Stock 2,280,000 Retained Earnings 115,400,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows: a. Issued 200,000 shares of common stock at $12, receiving cash. b. Issued 8,000 shares of preferred 2% stock at $115. c. Purchased 175,000 shares of treasury common for $10 per share. d. Sold 110,000 shares of treasury common for $14 per share. e. Sold 30,000 shares of treasury common for $8 per share. f. Declared cash dividends of $1.25 per share on preferred stock and $0.08 per share on…
The stockholders' equity section on the December 31 balance sheet of Hadley Corporation reported the following amounts: Preferred Stock (par $50; authorized 10,000 shares, ? issued 320300 Additional Paid-in Capital, Preferred 18710 Common Stock (no-par; authorized 20,000 shares, issued and outstanding 5,300 shares) 83417 Retained Earnings 97062 Treasury Stock, 1,000 Preferred shares at cost 56225 What is the total paid in capital for Hadley Corporation?
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 $3,042,000.00 2 Paid-In Capital from Sale of Treasury Stock 115,400.00 3 Paid-In Capital in Excess of Par-Common Stock 270,400.00 4 Retained Earnings 20,585,800.00 5 Treasury Stock 321,900.00 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 8,700 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, $45 par; 80,000 shares authorized, 67,600 issued Excess over par From sale of treasury…
The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows. Stockholders’ Equity Paid-in capital Preferred stock, ? par value, 4% cumulative, 190,000 shares authorized, 49,000 shares issued and outstanding $ 490,000 Common stock, $15 stated value, 240,000 shares authorized, 49,000 shares issued and ?? shares outstanding 735,000 Paid-in capital in excess of par—Preferred 39,000 Paid-in capital in excess of stated value—Common 147,000 Total paid-in capital $ 1,411,000 Retained earnings 340,000 Treasury stock, 8,000 shares (30,000 ) Total stockholders’ equity $ 1,721,000 Note: The market value per share of the common stock is $30, and the market value per share of the preferred stock is $21. Required What is the par value per share of the preferred stock? What is the dividend per share on…
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (100,000 shares authorized. 80,000 shares issued) b. Paid-In Capital in Excess of Par-Preferred Stock g. Common Stock. $5 par (5,000,000 shares authorized, 4,000,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings Issued 220,000 shares of common stock at $14, receiving cash. $ 8,000,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Paid the cash dividends. 440,000 INSTRUCTIONS 20,000,000 Issued 12,000 shares of preferred 2% stock at $110. c. Purchased 160,000 shares of treasury common for $10 per share. d. Sold 105,000 shares of treasury common for $16 per share. Sold 40,000 shares of treasury common for $8 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.08 per share on common stock.…
The stockholders' equity section of the January 1, 2031 balance sheet for XYZ Company is given below: Common stock, $14 par value ................. $525,000 Paid-in capital – common stock .............. $150,000 Treasury stock (14,000 shares @ $16 cost) ... $224,000 Paid-in capital – treasury stock ............ $ 13,000 Retained earnings ........................... $107,000 XYZ Company entered into the following transactions during 2031: a. Re-issued 2,000 of the treasury shares for $11 per share. b. Re-issued 3,000 of the treasury shares for $13 per share. c. Issued 5,000 shares of previously un-issued common stock for $21 per share. d. Re-issued 6,000 of the treasury shares for $19 per share. Calculate the balance in the retained earnings account after all four transactions above are recorded.
Instructions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (100,000 shares authorized, 80,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings $8,000,000 440,000 20,000,000 2,280,000 115,400,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 220,000 shares of common stock at $14, receiving cash. b. Issued 12,000 shares of preferred 2% stock at $110. c. Purchased 160,000 shares of treasury common for $10 per share. d. Sold 105,000 shares of treasury common for $16 per share. e. Sold 40,000 shares of treasury common for $8 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.08 per share on common stock. g.…
The following information is available for ConocoPhillips on December 31, 2022: Common Stock, $1.75 par, 400,000 shares authorized Additional Paid in Capital - Common Stock Retained Earnings Total Stockholders' Equity During 2023, ConocoPhillips completed these transactions (in chronological order): 1) Declared and issued a 2.0% stock dividend on the outstanding stock. At that time, the stock was quoted at a market price of $20 per share. 2) Issued 2,400 shares of common stock at the price of $18 per share. 3) Net Income for the year was $410,400. Determine the ending balance in the Additional Paid in Capital - Common Stock account on December 31, 2023: Select one: O O $651,000 840,000 756,000 $2,247.000 a. $1,014,780 b. $1,025,000 c. $1,032,000 d. $975,780 e. $879,000 4
Shown below is information relating to the stockholders' equity of Perry Corporation as of December 31, Year 1: 5.5% cumulative preferred stock, $100 par value; authorized, ?? shares; issued and outstanding, ?? shares Common stock, $10 par value; authorized, 360,000 shares; issued and outstanding, 140,000 shares Additional paid-in capital: Common stock Retained earnings (Deficit) Dividends in arrears What was the original issue price per share of common stock?
The stockholders’ equity section of Creighton Company’s balance sheet is shown as follows: CREIGHTON COMPANY As of December 31, Year 3 Stockholders’ equity Preferred stock, $10 stated value, 7% cumulative,300 shares authorized, 50 issued and outstanding $ 500 Common stock, $10 par value, 250 shares authorized,100 issued and outstanding 1,000 Common stock, class B, $20 par value, 400 sharesauthorized, 150 issued and outstanding 3,000 Common stock, no par, 150 shares authorized,100 issued and outstanding 2,200 Paid-in capital in excess of stated value—preferred 600 Paid-in capital in excess of par value—common 1,200 Paid-in capital in excess of par value—class B common 750 Retained earnings 7,000 Total stockholders’ equity $ 16,250 Requireda. Assuming the preferred stock was originally issued for cash, determine the amount of cash collected when the stock was issued.b. Based on the class B common stock alone,…

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