Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. Five hundredthousand shares of common stock are authorized, and 40,000 shares have been reacquired.Common Stock, $120 parPaid-In Capital from Sale of Treasury StockPaid-In Capital in Excess of Par-Common Stock 6,400,000$48,000,0004,500,000Retained Earnings63,680,000Treasury Stock5,200,000

Solution: Stockholder's equity section of balance sheet is as under:

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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Using the following accounts and balances, prepare the “Stockholders' Equity" section of the balance sheet. 20,000 shares of common stoCk authorized, and 10,000 shares have been reacquired. Common Stock, $80 par $1,120,000 Paid-In Capital from Sale of Treasury Stock 45,000 Paid-In Capital in Excess of Par-Common Stock 168,000 Retained Earnings 661,000 Treasury Stock 23,000 Balance Sheet Stockholders' Equity Paid-in capital: Paid-in capital, common stock $ Total paid-in capital Total Total stockholders'eauity.
Calculating the Number of Shares Issued Chester Inc. issued shares of its $3.85 par value common stock for $16.50 per share. In recording the issuance of the stock, Chester credited the Additional Paid-In Capital-Common Stock account for $1,062,600. Required: How many shares were issued? shares
Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 1,000 shares have been reacquired. Common Stock, $70 par $2,730,000 Paid-In Capital in Excess of Par 123,070 Paid-In Capital from Sale of Treasury Stock 6,070 Retained Earnings 125,000 Treasury Stock 4,570
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 $0.40 per share cash dividend, date of record July 10. July 31 August 14 Declared a 20% stock dividend when…
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The stockholders' equity section of World of Camping is presented here. WORLD OF CAMPING Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 11,000,000 common shares Total stockholders' equity $5,400,000 24,000,000 784,200,000 813,600,000 282,000,000 (286,000,000) $809,600,000 Based on the stockholders' equity section of World of Camping, answer the following questions. ■ired: w many shares of preferred stock have been issued? ber of shares
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On January 1, 2022, Metro Inc. had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 250,000 shares issued 250,000 Additional paid-in capital, common 500,000 Additional paid-in capital, preferred 100,000 Preferred stock, $100 par, 10,000 shares issued 1,000,000 Retained earnings 2,000,000 Treasury stock, at cost, 5,000 common shares 25,000 During 2022, Metro Inc. had several transactions relating to common stock. January 15: Declared a property dividend of 100,000 shares of Denver Company (book value $10 per share, fair value $9 per share). February 17: Distributed the property dividend. July 18: Declared and distributed a 3% stock dividend on outstanding common stock. The fair value is $5 per share. December 1: Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend. 1) Prepare the journal entry (ies) for…
Treasury Shares On October 10, the capital of the shareholders (stockholders' equity) of Sherman Systems, Inc. it consisted of the following: Common stock–$10 par value, 72,000 shares authorized, issued, and outstanding $ 720,000 Paid-in capital in excess of par value, common stock 216,000 Retained earnings 864,000 Total stockholders’ equity $ 1,800,000 Prepare the daily entries to record the following transactions: October 11 – Sherman Systems purchased 5,000 of its own common stock at a price of $25 per share. November 1 – Sherman Systems sold 1,000 of its shares in treasury stock at a price of $31 per share. November 25 – Sherman Systems sold the remaining shares in treasury at a price of $20 per share.
At December 31, the stockholders' equity section shows: Ordinary share capital, P5 par value; 1,320,000 shares issued and 1,200,000 shares outstanding P6,600,000 Share Premium P1,400,000 Retained earnings P500,000 Treasury shares, (120,000 shares) P700,000 Total shareholders' equity P7,800,000. How much is the book value per share?

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