The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31,20Y9, are as follows. Prepare a statement of stockholders' equity for the year endedDecember 31, 20Y9.COMMON STOCKJan. 1 Balance4,800,000Apr. 14 Issued30,000 shares1,200,0006,000,000Dec. 31 BalancePAID-IN CAPITAL IN EXCESS OF PARJan. 1 Balance960,000Apr. 14Issued30,000 shares300,000Dec. 31 Balance1,260,000TREASURY STOCKAug. 7Purchased12,000 shares552,000RETAINED EARNINGSDividendJan. 1 BalanceMar. 3169,00011,375,000DividendClosing(net income)June 3069,000Dec. 31Sept. 30Dividend69,0003,780,000Dec. 31Dec. 31DividendBalance69,00014,879,000

Stockholders’ equity:The claims of owners on a company’s resources, after the liabilities are paid…

Answered: The stockholders' equity T 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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The following information was extracted from the records of Cascade Company at the end of the fiscal yea were completed: Common stock ($0.01 par value; 230,000 shares authorized, 55,500 shares issued, 53,500 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the end of the year Treasury stock at cost (2,000 shares) Net income Current stock price Required: 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 2 Compute 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 ratio Number of shares % $ 555 459,000 23,500 315,000 (16;500) $ 96,500 $ 10 >
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Identifying and Analyzing Financial Statement Effects of Stock Transactions Melo Company reports the following transactions relating to its stock accounts in the current year. Use the financial statement effects template to indicate the effects from each of these transactions. (a) Mar. 2 Issued 14,000 shares of $1 par value common stock at $30 cash per share. (b) Apr. 14 Issued 21,000 shares of $100 par value, 8% preferred stock at $250 cash per share. (c) June. 30 Purchased 4,200 shares of its own common stock at $22 cash per share. (d) Sep. 25 Sold 2,100 shares of its treasury stock at $26 cash per share. Note: For each account category, indicate the appropriate account name. Enter "N/A" for
Statement of Stockholders' Equity Potter Financial Services, Inc. For the Year Ended December 31, 20Y1 Common Retained Stock Earnings 210,000 Total Balances, January 1, 20Y1 Issued Common Stock 40,000 250,000 60,000 128,600 10,000 448,600 60,000 128,600 10,000 348,600 Net Income for the Year Dividends Balances, December 31, 20Y1 100,000
Stockholders' equity accounts, arranged aphabetically are the ledger of Pina Colada Corp. at December 31, 2020. Common Stock ($5 stated value) $1,675,000 Paid-in capital inexcess of par-preferred stock 279,000 Paid-in capital in excess of stated value-common stock. 936,000 Preferred stock (8%, $103 par) 489,250 Ratained Earnings 1,120,000 Treasury Stock (12,000 common shares) 144,000 Prepare the stockholders' equity section of the balance sheet at December 31, 2020. *please solve and explain process. Thank you
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: Record on journal page 10: Jan. 3 Issued 15,000 shares of $20 par common stock at $30, receiving cash. Feb. 15 Issued 4,000 shares of $80 par preferred 5% stock at $100, receiving cash. May 1 Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. 16 Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. 26 Paid the cash dividends declared on May 16. Jun. 8 Purchased 8,000 shares of treasury common stock at $33 per share. 30 Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. Jul. 11 Paid the cash dividends to the preferred…
Ees At December 31 Common stock, $10 par value Paid-in capital in excess of par Retained earnings The company's net Income for the current year ended December 31 was $66,000. 1. Complete the T-accounts to calculate the cash received from the sale of Its common stock during the current year. Beginning balance Issuance of common stock Ending balance Common Stock, $10 Par Beginning balance issuance of common stock Paid-in Capital in Excess of Par Ending balance Cash received 0 Current Year $ 146,000 603,000 349,500 0 Prior Year $ 136,000 360,000 323,500
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The balance sheet of QUIGGE and get the end of the current fiscal year indicated the following bonds payable 8% $1 million preferred $10 stock $100 par 117,000 common stock $13 par 1,026,675 income before and come tax expense was $200,000 in income taxes for $30,350 for the current year cash dividends paid common stock during the current. Your total is $do 47,285 common stock with selling for $20 per share at the end of the year determine each of the following round answers to one decimal place, except for dollar amounts, which should be rounded to the nearest whole cent a. Times interest earned ratio. b. Earnings per share in common stock. c. Price earnings ratio. d. Dividends per share of common stock. e. Dividend yield.
Prepare the journal entry. Post to the T account .

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