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

See similar textbooks

Similar questions

1. Yellow Corporation had the following stockholders' equity accounts on December 31, 2020. Common Stock ($8 par value, 120,000 shares authorized, $ 320,000 40,000 shares issued and outstanding) Paid-in-Capital in Excess of Par - Common Stock $ 2,900,000 Retained Earnings $ 3,500,000 The following were transactions that occurred during 2021: 20-Feb Declared a $4 cash dividends per share on common stock 3-Mar Record date for cash dividends declared on 20 Feb 19-Mar Paid cash dividends 28-Apr Issued 15,000 shares of common stock for $16 per share 5-May Declared a $3 cash dividends per share on common stock 9-Jun Record date for cash dividends declared on 5 May 17-Jul Paid cash dividends 8-Aug Issued 23,500 shares of common stock for $20 per share 7-Sep Declared a $2 cash dividends per share on common stock 9-Oct Record date for cash dividends declared on 7 September 5-Nov Paid cash dividends 31-Dec Determined that net income for the year was $650,000 Instructions: 1. Journalize the…
The stockholders' equity section of Skysong Corporation appears below as of December 31, 2025. 8% cumulative preferred stock, $10 par value, authorized 100,000 shares, outstanding 90,000 shares Common stock, $0.20 par, authorized and issued 9,899,000 shares Additional paid-in capital Retained earnings Net income $900,000 1,979,800 4,090,000 $27,020,000 6,530,000 33,550,000 $40,519,800 Net income for 2025 reflects a total effective tax rate of 20%. Preferred stock dividends of $72,000 were declared and paid in 2025. Dividends of $1,000,000 were declared and paid to common stockholders in 2025. Compute earnings per share data as it should appear on the income statement of Skysong Corporation. (Round answer to 2 decimal places, e.g. 1.48.) Earnings per share $
On January 1, 2021, Fascom had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 250,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 10,000 shares outstanding Retained earnings Treasury stock, at cost, 5,000 shares During 2021, Fascom Inc. had several transactions relating to common stock. $ 250,000 500,000 100,000 1,000,000 2,000,000 25,000 January 15: Declared a property dividend of 100,000 shares of Slowdown Company (book value $10 per share, fair value $9 per share). February 17: Distributed the property dividend. April July December 10: A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Fascom chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. 18: Declared and distributed a 3% stock dividend on outstanding common stock. The fair value is $5 per…
Please don't give image format
The stockholders' equity section on the December 31 balance sheet of Hadley Corporation reported the following amounts: Preferred Stock (par $50; authorized 10,000 shares, ? issued 320300 Additional Paid-in Capital, Preferred 18710 Common Stock (no-par; authorized 20,000 shares, issued and outstanding 5,300 shares) 83417 Retained Earnings 97062 Treasury Stock, 1,000 Preferred shares at cost 56225 What is the total paid in capital for Hadley Corporation?
The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders’ equity 12/31/2021 12/31/2020 Common stock, $5 par; 36 million shares authorized; 31 million sharesissued and 26 million shares outstanding at 12/31/2021; and ____million sharesissued and ____shares outstanding at 12/31/2020. $ 155 million $ 130 million Additional paid-in capital on common stock 523 million 401 million Retained earnings 192 million 160 million Treasury common stock, at cost, 5 million shares at 12/31/2021 and 2 millionshares at 12/31/2020 (85 million) (48 million) Total shareholders’ equity $ 785 million $ 643 million What was the average price of the additional treasury shares purchased by Levi during 2021? (Round your answer to 2 decimal places.)
72. Subject :- Accounting
On January 1, 2024, Dolar Incorporated had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 241,000 shares issued $241,000 Paid-in capital-excess of par, common 482,000 Paid-in capital-excess of par, preferred. 195,000 Preferred stock, $100 par, 19,500 shares outstanding 1,950,000 Retained earnings Treasury stock, at cost, 4,100 shares 3,900,000 20,500 During 2024, Dolar Incorporated had several transactions relating to common stock. January 15: February 17: April 10: July 18: December 1: December 28: Required: Declared a property dividend of 100,000 shares of Burak Company (book value $11.9 per share, fair value $9.95 per share). 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 on…
please help asap please
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.
s
The following information is available for ConocoPhillips on December 31, 2022: Common Stock, $1.75 par, 400,000 shares authorized Additional Paid in Capital - Common Stock Retained Earnings Total Stockholders' Equity During 2023, ConocoPhillips completed these transactions (in chronological order): 1) Declared and issued a 2.0% stock dividend on the outstanding stock. At that time, the stock was quoted at a market price of $20 per share. 2) Issued 2,400 shares of common stock at the price of $18 per share. 3) Net Income for the year was $410,400. Determine the ending balance in the Additional Paid in Capital - Common Stock account on December 31, 2023: Select one: O O $651,000 840,000 756,000 $2,247.000 a. $1,014,780 b. $1,025,000 c. $1,032,000 d. $975,780 e. $879,000 4