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The stockholders' equity accounts of Bramble Corp. on January 1, 2025, were as follows. Preferred Stock (7%, $100 par noncumulative, 14,000 shares authorized) Common Stock ($4 stated value, 840,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (14,000 common shares) Feb. 1 Issued 14,000 shares of common stock for $84,000. Mar. 20 Oct. 1 Nov. 1 Dec $840,000 During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. Dec. 31 2,800,000 42,000 1,344,000 1,926,400 112,000 Purchased 2,800 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2 Determined that net income for the year was $785,000. Paid the dividend declared on December 1.

The stockholders' equity accounts of Bramble Corp. on January 1, 2025, were as follows. Preferred Stock (7%, $100 par noncumulative, 14,000 shares authorized) Common Stock ($4 stated value, 840,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (14,000 common shares) Feb. 1 Issued 14,000 shares of common stock for $84,000. Mar. 20 Oct. 1 Nov. 1 Dec $840,000 During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. Dec. 31 2,800,000 42,000 1,344,000 1,926,400 112,000 Purchased 2,800 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2 Determined that net income for the year was $785,000. Paid the dividend declared on December 1.

FINANCIAL ACCOUNTING
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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BRAMBLE CORP. Partial Balance Sheet December 31, 2025 $ TO $
Transcribed Image Text:BRAMBLE CORP. Partial Balance Sheet December 31, 2025 $ TO $
The stockholders' equity accounts of Bramble Corp. on January 1, 2025, were as follows. Preferred Stock (7%, $100 par noncumulative, 14,000 shares authorized) Common Stock ($4 stated value, 840,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (14,000 common shares) Feb. 1 Issued 14,000 shares of common stock for $84,000. Mar. 20 Oct. Nov. During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. 1 Dec 1 $840,000 Dec. 31 2,800,000 42,000 1,344,000 1,926,400 112,000 Purchased 2,800 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1 Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2 Determined that net income for the year was $785,000. Paid the dividend declared on December 1.
Transcribed Image Text:The stockholders' equity accounts of Bramble Corp. on January 1, 2025, were as follows. Preferred Stock (7%, $100 par noncumulative, 14,000 shares authorized) Common Stock ($4 stated value, 840,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (14,000 common shares) Feb. 1 Issued 14,000 shares of common stock for $84,000. Mar. 20 Oct. Nov. During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. 1 Dec 1 $840,000 Dec. 31 2,800,000 42,000 1,344,000 1,926,400 112,000 Purchased 2,800 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1 Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2 Determined that net income for the year was $785,000. Paid the dividend declared on December 1.
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