The stockholders' equity accounts of Cheyenne Corp. on January 1, 2025, were as follows,Preferred Stock (7%, $100 par noncumulative, 6,500 shares authorized) $390,000Common Stock ($4 stated value, 390,000 shares authorized)Paid-in Capital in Excess of Par-Preferred StockPaid-in Capital in Excess of Stated Value-Common StockRetained EarningsTreasury Stock (6,500 common shares)Feb. 1 Issued 6,500 shares of common stock for $39,000.Mar. 20Oct. 11,300,00019,500During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity.Dec. 1624,000894,40052,000Purchased 1,300 additional shares of common treasury stock at $7 per share.Declared a 7% cash dividend on preferred stock, payable November 1.Nov. 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, 20Dec. 31 Determined that net income for the year was $365,000. Paid the dividend declared on December 1. ##CHEYENNE CORP.Partial Balance Sheet$$L$

common stock - common stock holders are the real owners of the company . They have the voting rights…

Answered: The stockholders' equity accounts of…

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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At January 1, 2025, Coronado Company's outstanding shares included the following. 252,000 shares of $50 par value, 7% cumulative preferred stock 823,000 shares of $1 par value common stock Net income for 2025 was $2,579,000. No cash dividends were declared or paid during 2025. On February 15, 2026, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears prior to 2025. On April 1, 2025, 457,000 shares of common stock were sold for $10 per share, and on October 1, 2025, 109,000 shares of common stock were purchased for $21 per share and held as treasury stock. Compute earnings per share for 2025. Assume that financial statements for 2025 were issued in March 2026. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $
A 227.
CarFind Inc. showed the following equity information at December 31, 2022 Common shares, unlimited shares authorized; 4,100,000 shares issued and outstanding Retained earnings On April 1, 2023, 210,000 common shares were issued at $0.70 per share. On June 1, the board of directors declared a 5% share dividend to shareholders of record on June 15, the distribution date was July 1. The market prices of the shares on June 1, June 15, and July 1 were $2.98, $1.86, and $2.46, respectively. On December 11, the board of directors declared a 21 share split to shareholders of record on December 15, the distribution date was December 20. Profit earned during the year was $1,495,000. $1,010,000 1,380,000 Required: Prepare the company's equity section on the December 31, 2023, balance sheet. Contributed capital: Total equity CARFIND INC. Equity Section of Balance Sheet December 31, 2023
At January 1, 2025, Skysong Company's outstanding shares included the following. 283,000 shares of $50 par value, 7% cumulative preferred stock 942,000 shares of $1 par value common stock Net income for 2025 was $2,521,000. No cash dividends were declared or paid during 2025. On February 15, 2026, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears prior to 2025. On April 1, 2025, 449,000 shares of common stock were sold for $10 per share, and on October 1, 2025, 109,000 shares of common stock were purchased for $19 per share and held as treasury stock. Compute earnings per share for 2025. Assume that financial statements for 2025 were issued in March 2026. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share LA
Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2025, the following accounts were included in the stockholders' equity. Preferred Stock, 148,200 shares $2,964,000 Common Stock, 1,991,000 shares 9,955,000 Paid-in Capital in Excess of Par--Preferred Stock 207,000 Paid-in Capital in Excess of Par--Common Stock 26,478,000 Retained Earnings 4,495,000 The following transactions affected stockholders' equity during 2026. Jan. 1 29,200 shares of preferred stock issued at $23 per share. Feb. 1 46,100 shares of common stock issued at $21 per share. June 1 2-for-1 stock split (par value reduced to $2.50). July 1 28,900 shares of common treasury stock purchased at $10 per share. Blossom uses the cost method. Sept.15 9,200 shares of treasury stock reissued at $12 per share. Dec. 31 The preferred dividend is declared, and a common dividend of 53 cents per share is declared. Dec. 31 Net income is $2,138,000. Prepare the stockholders'…
The stockholders' equity accounts of Skysong, Inc. on January 1, 2022, were as follows. Preferred Stock (8%, $50 par, cumulative, 10,500 shares authorized) Common Stock ($1 stated value, 1,900,000 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 (10,500 common shares) $400,000 1,250,000 135,000 1,400,000 1,800,000 52,500 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 25,000 shares of common stock for $121,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $32,800. Sept. 3 Issued 5,000 shares of common stock for a patent valued at $34,200. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5,900. Dec. 31 Determined that net income for the year was $410,000. No dividends were declared during the year. Tul Journalize the transactions and the closing entry for net income.…
The Stockholders’ Equity accounts of ExxonMobil on December 31, 2022 were as follows: Preferred Stock ( 6% , $100 par, cumulative, 800 authorized) $720,000 Common Stock ( $3 par, 1,500,000 authorized) 1,080,000 APIC – Preferred Stock 108,000 APIC – Common Stock 840,000 Retained Earnings 936,000 Treasury Stock – Common ( $9 cost) 54,000 During 2023, ExxonMobil had the following transactions and events pertaining to its stockholders’ equity: March 21: Issued 24,000 shares of Common Stock in exchange for Land. On the date of purchase, the Land had a Fair Market Value of $210,000 and the stock was selling for $11 per share. April 17: Sold 1,800 shares of Treasury Stock – Common for $12 per share.November 22: Purchased 800 shares of Common Stock for the Treasury at a cost of $7,560. December 31: Determine that net income for the year was $556,000. Dividends were declared and paid during December. These dividends included a $0.20 per share dividend to common stockholders…
The following stockholders' equity accounts arranged alphabetically are in the ledger of Concord Corporation at December 31, 2022. Common Stock ($7 stated value) Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock (8%, $55 par) Retained Earnings Treasury Stock (10,000 common shares) 4: eTextbook and Media List of Accounts Save for Later + Prepare a stockholders' equity section at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) + $2,793,000 ◆ 11,000 675,000 159,000 880,000 1,748,000 130,000 CONCORD CORPORATION Balance Sheet (Partial) $ $ Attempts: 0 of 3 used $ Submit Answer
The Stockholders' Equity accounts of ExxonMobil on December 31, 2022 were as follows: Preferred Stock ( 6%, $100 par, cumulative, 800 authorized) $720,000 Common Stock ( $3 par, 1,500,000 authorized) $1,080,000 (360000 Common Stock) APIC - Preferred Stock $108,000 APIC - Common Stock $840,000 Retained Earnings $936,000 Treasury Stock - Common ($9 cost) 54,000 During 2023, ExxonMobil had the following transactions and events pertaining to its stockholders' equity: March 21: Issued 24,000 shares of Common Stock in exchange for Land. On the date of purchase, the Land had a Fair Market Value of $252,000 and the stock was selling for $11 per share. April 17: Sold 1,800 shares of Treasury Stock - Common for $12 per share. November 22: Purchased 800 shares of Common Stock for the Treasury at a cost of $7,600. December 31: Determine that net income for the year was $555,600. Dividends were declared and paid during December. These dividends included a $0.20 per share dividend to common…
The stockholders' equity section of Waterway Corporation appears below as of December 31, 2025. 8% preferred stock, $50 par value, authorized 114,400 shares, outstanding 104,400 shares Common stock, $1.00 par, authorized and issued 10,000,000 shares Additional paid-in capital Retained earnings (includes 2025 net income of $38.280,000) Total stockholders' equity $5,220,000 10,000,000 23,780,000 193,720,000 232.720,000 Earnings per share. Net income for 2025 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of $20,880,000 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $417,600 were declared and paid in 2025. Dividends of $1,160,000 were declared and paid to common stockholders in 2025, Compute earnings per share data as it should appear on the income statement of Waterway Corporation. (Round answers to 2 decimal places, e.g. 1.48.) ...
On January 1, 2022, Cheyenne Corp. had the following stockholders’ equity accounts. Common Stock ($20 par value, 57,900 shares issued and outstanding) $1,158,000 Paid-in Capital in Excess of Par—Common Stock 202,000 Retained Earnings 580,000 During the year, the following transactions occurred. Feb. 1 Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $35. July 1 Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $15 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $345,000. Prepare a stockholders’ equity…

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