Current Attenipt in ProgressThe stockholders' equity accounts of Bramble Corporation on January 1, 2022. were as followsPreterred Stock (8N. $48 par. 10.000 shanes authorized)$ 384.000Common Stock ($1 stated value. 2.050.000shares authorized)1.500.D00Paid-in Capital in Excess of Par-Preferred Stock140.000Paid-in Capit. in Ecess of Stated Value-Common Stock1450000Retained Earmings1.750.000Treasury Stock (10,500 common sharesl52.500During 2022. the corporation had the following transactions and events pertaining tots stockholders eguityFeh.Issued 25.000 shares of common stock for $124,000.Apr.Sold 6.000 shares of treasury stockcommon for $33.700.14SeptIssued 4,900 shares of common stock for a patent valued at $35,1003.10Purchased 1.100 shares of common stock for the treasury at a cost of $5.700.NovDec31Determined that net income for the year was $420.000.No dividends were declared during the year. (b)Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Use J5 for theposting reference) (Post entries in the onder of journal entries presented in the previous port)Preferred StockDateExplanation Ref.DebitCreditBalanceBalanceCommon StockDateExplanation Ref.DebitCreditBalanceBalance1535Paid-in Capital in Excess of Par-Preferred StockDateExplanation Ref.DebitCreditBalanceBalance

The journal entries are prepared to record daily transactions of the business. The t-accounts are…

The stockholders'equity accounts of Bramble Corporation on January 1.2022, were as follows Preferred Stock N S48 par, 10.00 shares authorized) $ 384.000 Common Stock S1 stated value. 2050.000 shares authortzed) 1500.000 Paid-in Capital in Ecess of Par-Preferred Stock 140.000 Paid-in Capitin Ece of Stated Value-Common Stock 1450.000 Retained Earmings 1750.000 Treasury Stock (10,500 common shares 52.500 During 2022. the corporation had the following transactions and events pertaining to its stockholders'eguity Feb Isued 25.000 shares of common stock for $124.000 Apr. Sold 6.000 shares of treasury stock-common for $33700 14 Sept sued 4.900 shares of common stock for a patent valued at $35,100 Nov 10 Purchased 1.100 shares of common stock for the treasury ata cost of $5.700. Dec 31 Determined that net income for the year was $420.000

The stockholders'equity accounts of Bramble Corporation on January 1.2022, were as follows Preferred Stock N S48 par, 10.00 shares authorized) $ 384.000 Common Stock S1 stated value. 2050.000 shares authortzed) 1500.000 Paid-in Capital in Ecess of Par-Preferred Stock 140.000 Paid-in Capitin Ece of Stated Value-Common Stock 1450.000 Retained Earmings 1750.000 Treasury Stock (10,500 common shares 52.500 During 2022. the corporation had the following transactions and events pertaining to its stockholders'eguity Feb Isued 25.000 shares of common stock for $124.000 Apr. Sold 6.000 shares of treasury stock-common for $33700 14 Sept sued 4.900 shares of common stock for a patent valued at $35,100 Nov 10 Purchased 1.100 shares of common stock for the treasury ata cost of $5.700. Dec 31 Determined that net income for the year was $420.000

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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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
Waterway Corporation’s December 31, 2020 balance sheet showed the following: 8% preferred stock, $20 par value, 69400 shares authorized; 49400 shares issued $ 988000 Common stock, $10 par value, 6750000 shares authorized; 6650000 shares issued, 6610000 shares outstanding 66500000 Paid-in capital in excess of par—preferred stock 125500 Paid-in capital in excess of par—common stock 54000000 Retained earnings 15350000 Treasury stock (69400 shares) 1261000 Waterway’s total paid-in capital was $122874500. $121613500. $54125500. $120352500.
On January 1, 2024, Dolar Incorporated had the following account balances in its shareholders' equity accounts. $ 241,000 482,000 195,000 1,950,000 3,900,000 20,500 Common stock, $1 par, 241,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 19,500 shares outstanding Retained earnings Treasury stock, at cost, 4,100 shares During 2024, Dolar Incorporated had several transactions relating to common stock. January 15: February 17: April 10: July 18: December 1: December 20: Declared a property dividend of 100,000 shares of Burak Company (book value $11.9 per share, fair value $9.95 per share). Shareholders' equity Distributed the property dividend. A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Dolar chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. Declared and distributed a 4% stock dividend…
The following is the Stockholders' Equity section of the balance for Spencer Corporation as of December 31, 2019. Stockholders' Equity Common stock, $1 par value; authorized, 10,000,000 shares. Issued and outstanding, 500,000 shares Additional paid-in capital, common stock Retained earnings Total Stockholders' Equity $500,000 3,500,000 6,750,000 $10.750.000 Spencer Corporation declared a 10% stock dividend on January 1, 2020, at which date the fair value of Spencer Corporation common stock was trading at $35 per share. Prepare the January 1, 2020, journal entry to record the declaration of the stock dividend. Date Account Debit Credit
bBramble Corporation’s December 31, 2020 balance sheet showed the following: 7% preferred stock, $20 par value, 18300 shares authorized; 13300 shares issued $ 266000 Common stock, $10 par value, 1930000 shares authorized; 1880000 shares issued, 1860000 shares outstanding 18800000 Paid-in capital in excess of par—preferred stock 59500 Paid-in capital in excess of par—common stock 24900000 Retained earnings 7670000 Treasury stock (19800 shares) 623700 Bramble’s total stockholders’ equity was $44051800. $51695500. $52331800. $51071800.
asap Bramble Corporation’s December 31, 2020 balance sheet showed the following: 7% preferred stock, $20 par value, 18300 shares authorized; 13300 shares issued $ 266000 Common stock, $10 par value, 1930000 shares authorized; 1880000 shares issued, 1860000 shares outstanding 18800000 Paid-in capital in excess of par—preferred stock 59500 Paid-in capital in excess of par—common stock 24900000 Retained earnings 7670000 Treasury stock (19800 shares) 623700 Bramble’s total stockholders’ equity was $44051800. $51695500. $52331800. $51071800.
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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
Coronado Corporation’s December 31, 2020 balance sheet showed the following: 9% preferred stock, $20 par value, cumulative, 15100 shares authorized; 5100 shares issued $ 102000 Common stock, $10 par value, 1010000 shares authorized; 960000 shares issued, 930000 shares outstanding 9600000 Paid-in capital in excess of par—preferred stock 28000 Paid-in capital in excess of par—common stock 11460000 Retained earnings 3790000 Treasury stock (15100 shares) 317100 Coronado’s total paid-in capital was $20872900. $11240000. $21190000. $21507100.
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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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