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
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
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...
Related questions
Question
please show formula for each calculation along other work show complete and correct work for each number clearly no copy from other answer answer in text form answer in proper format provide explanation for each step
![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
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff516e717-d9d1-4d7d-8635-8b8959308df8%2F8f0d9d09-901d-45d9-b594-b0b236657a46%2Fa1peml_processed.jpeg&w=3840&q=75)
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
$
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![Excel Applications for Accounting Principles](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
![College Accounting, Chapters 1-27 (New in Account…](https://www.bartleby.com/isbn_cover_images/9781305666160/9781305666160_smallCoverImage.gif)
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning