the stockholder's equity of LDL corporation at December 31, 2016, is shown below: common stock $10 par, 100,000 shares authorized, 40,000 shares issued Additional paid-in capital The stockholder's equity of LDL Corporation at December 31, 2016 is shown below:Common stock $10 par, 100,000 shares authorized, 40,000 shares issuedAdditional paid in capital: common stockTotal paid in capitalRetained earningsTotal stockholder's equityQ3$ 400,000200,000600,0001,500,0002.100,000During 2017, the following transactions effecting stockholder's equity occurred.i. A 5-for-4 stock split was proposed and 10,000 new shares were distributed to stockholders.ii. The company purchased 2000 shares of its common stock on the open market at $37/share.ii. The company reissued 1000 shares of treasury stock at $45 per share.iv. Issued for cash 20,000 shares of previously unissued $8 par value common stock at a price of$45 per share.v. A cash dividend of $1 per share was declared and payable on December 31.vi. A 10% of the outstanding stocks dividend was declared. The market price was $48.Net income for the year was $177,000.Required:a. Prepare journal entries to record the transactions related to stockholder's equity.b. Prepare statement of retained earnings for the year ended December 31, 2017.

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Description: the stockholder's equity of LDL corporation at December 31, 2016, is shown below: common stock $10 par, 100,000 shares authorized, 40,000 shares issued Additional paid-in capital The stockholder's equity of LDL Corporation at December 31, 2016 is sho

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the stockholder's equity of LDL corporation at December 31, 2016, is shown below: common stock $10 par, 100,000 shares authorized, 40,000 shares issued Additional paid-in capita

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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Rollers company is incorporated on January 1, 2018. Company is authorized to issue160,000 shares of $6 par value. Following transactions related Shares issued Shares issued Net income Dividend paid Treasury stock purchased 16,000 @$8 per share 32,000 @ $9 per share $160,000 $80,000 3,500 shares @ $11 per share The balance of stockholder's equity at end of year 2018 is: $489,500 $576,000 $457.500 $416,000 Reset Answer
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.
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