Whispering Company has two classes of capital stock outstanding 7%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 143,700 shares Common Stock, 1,980,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $2.874,000 9.900,000 209,000 26,891.000 Jan. 1 Feb. 1 June 1 July 1 Sept 15 Dec. 31 Dec. 31 4.544,000 The following transactions affected stockholders' equity during 2021. 30.900 shares of preferred stock issued at $22 per share. 50.100 shares of common stock issued at $19 per share. 2-for-1 stock split (par value reduced to $2.50). 28,100 shares of common treasury stock purchased at $10 per share. Whispering uses the cost method. 9.200 shares of treasury stock reissued at $12 per share. The preferred dividend is declared, and a common dividend of 53c per share is declared. Net income is $2.139.000. Prepare the stockholders' equity section for Whispering Company at December 31, 2021. (Enter account name only and do not provide descriptive information) WHISPERING COMPANY Stockholders' Equity S

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Whispering Company has two classes of capital stock outstanding 7%, $20 par preferred and $5 par common. At December 31, 2020.
the following accounts were included in stockholders' equity.
Preferred Stock, 143,700 shares
Common Stock, 1,980,000 shares
Paid-in Capital in Excess of Par-Preferred Stock
Paid-in Capital in Excess of Par-Common Stock
Retained Earnings
$ 2,874,000
9,900,000
Jan. 1
Feb. 1
June 1
July 1
Sept. 15
Dec. 31
Dec. 31
209,000
26,891,000
4,544,000
The following transactions affected stockholders' equity during 2021.
30,900 shares of preferred stock issued at $22 per share.
50,100 shares of common stock issued at $19 per share.
2-for-1 stock split (par value reduced to $2.50).
28,100 shares of common treasury stock purchased at $10 per share. Whispering uses the cost method.
9.200 shares of treasury stock reissued at $12 per share.
The preferred dividend is declared, and a common dividend of 53¢ per share is declared.
Net income is $2,139,000.
Prepare the stockholders' equity section for Whispering Company at December 31, 2021. (Enter account name only and do not provide
descriptive information)
WHISPERING COMPANY
Stockholders' Equity
$
Transcribed Image Text:Whispering Company has two classes of capital stock outstanding 7%, $20 par preferred and $5 par common. At December 31, 2020. the following accounts were included in stockholders' equity. Preferred Stock, 143,700 shares Common Stock, 1,980,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $ 2,874,000 9,900,000 Jan. 1 Feb. 1 June 1 July 1 Sept. 15 Dec. 31 Dec. 31 209,000 26,891,000 4,544,000 The following transactions affected stockholders' equity during 2021. 30,900 shares of preferred stock issued at $22 per share. 50,100 shares of common stock issued at $19 per share. 2-for-1 stock split (par value reduced to $2.50). 28,100 shares of common treasury stock purchased at $10 per share. Whispering uses the cost method. 9.200 shares of treasury stock reissued at $12 per share. The preferred dividend is declared, and a common dividend of 53¢ per share is declared. Net income is $2,139,000. Prepare the stockholders' equity section for Whispering Company at December 31, 2021. (Enter account name only and do not provide descriptive information) WHISPERING COMPANY Stockholders' Equity $
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