Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 (separating sources of additional paid-in capital). Fifty thousand shares ofcommon stock are authorized, and 4,000 shares have been reacquired.Common Stock, $50 par$2,000,000Paid-In Capital in Excess of Par240,000Paid in Capital from Sale of Treasury Stock6,050Retained Earnings102,000Treasury Stock4,550Stockholders' EquityPaid-in capital:Total stockholders' equityNext%24%24

Solution: Stockholders' Equity Paid in Capital: Common stock 2000000 Paid in capital…

Answered: Using the following accounts and…

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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Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity se Common Stock, $70 par $5,600,000 Paid-In Capital from Sale of Treasury Stock 112,000 Paid-In Capital in Excess of Par-Common Stock 2,160,000 Retained Earnings 2,800,000 Treasury Stock 67,000 Stockholders' Equity Paid-in capital: Total Paid-In Capital Total Stockholders' Equity
The equity sections for Atticus Group at the beginning of the year (January 1) Stockholders' Equity (January 1) Common stock-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $0.40 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 July 5 Declared a $0.40 per share cash dividend, date of record April 10. Declared a $0.40 per share cash dividend, date of record July 10. July 31 August 14 Declared a 20% stock dividend when…
Fuerman Incorporated had the following common stock record during the current calendar year Outstanding, beginning of year Additional shares issued 6/30 2,850,000 230,000 Additional shares issued 9/30 230,000 A 12% stock dividend was paid on December 1. What is the number of shares to be used in computing basic EPS? Multiple Choice 3,320,800 3,022,500 3,449,600 3,385,200
A3
The stockholders' equity section of Rakusin Corp. reflected the following in the capital stock subsection (all stock was issued on the same date): Common stock, par $10 $60,000 Additional paid-in-capital 15,000 What was the per-share selling price of the stock? $ _________
Statement of Stockholders' Equity The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Jan. 1 Balance 1,300,000 Apr. 14 Issued 11,400 570,000 shares Dec. 31 Balance 1,870,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 208,000 Apr. 14 Issued 11,400 136,800 shares Dec. 31 Balance 344,800 TREASURY STOCK Aug. 7 Purchased 1,900 shares 91,200 RETAINED EARNINGS Mar. 31 Dividend 33,000 Jan. 1 Balance 2,260,000 June. 30 Dividend 33,000 Dec. 31 Closing Sept. 30 Dividend 33,000 (Net income) 339,000 Dec. 31 Dividend 33,000 Dec. 31 Balance 2,467,000 Prepare a statement of stockholders' equity for the year ended December 31, 20Y9. If an amount box does not require an entry I-Cards Inc. Statement of Stockholders' Equity For the Year Ended December 31, 20Y9
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The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Common Stock, $15 par $706,500 Paid-In Capital from Sale of Treasury Stock 29,000 Paid-In Capital in Excess of Par-Common Stock 18,840 Retained Earnings 1,109,000 Treasury Stock 14,630 Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 770 shares have been reacquired. Goodale Properties Inc. Stockholders' Equity June 30, 20хх Paid-In Capital: Total Paid-In Capital $4 Total Total Stockholders' Equity
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