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Wildhorse Company has two classes of capital stock outstanding: 9%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 149,800 shares Common Stock, 2,026,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings Jan 1 Feb. 1 $2,996,000 10,130,000 195,000 The following transactions affected stockholders' equity during 2021. 31.800 shares of preferred stock issued at $23 per share. 54,400 shares of common stock issued at $19 per share. 2-for-1 stock split (par value reduced to $2.50) 27,600 shares of common treasury stock purchased at $10 per share. Wildhorse uses the cost method 10,300 shares of treasury stock reissued at $11 per share. June 1 July 1 Sept. 15 27,225,000 4,572.000

Wildhorse Company has two classes of capital stock outstanding: 9%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 149,800 shares Common Stock, 2,026,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings Jan 1 Feb. 1 $2,996,000 10,130,000 195,000 The following transactions affected stockholders' equity during 2021. 31.800 shares of preferred stock issued at $23 per share. 54,400 shares of common stock issued at $19 per share. 2-for-1 stock split (par value reduced to $2.50) 27,600 shares of common treasury stock purchased at $10 per share. Wildhorse uses the cost method 10,300 shares of treasury stock reissued at $11 per share. June 1 July 1 Sept. 15 27,225,000 4,572.000

FINANCIAL ACCOUNTING
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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Wildhorse Company has two classes of capital stock outstanding: 9%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 149,800 shares Common Stock, 2,026,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $ 2,996,000 10,130,000 195,000 27,225,000 4,572,000 The following transactions affected stockholders' equity during 2021. 31,800 shares of preferred stock issued at $23 per share. 54,400 shares of common stock issued at $19 per share. 2-for-1 stock split (par value reduced to $2.50). 27,600 shares of common treasury stock purchased at $10 per share. Wildhorse uses the cost method. 10,300 shares of treasury stock reissued at $11 per share. Jan. 1 Feb. 1 June 1 July 1 Sept. 15
Transcribed Image Text:Wildhorse Company has two classes of capital stock outstanding: 9%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 149,800 shares Common Stock, 2,026,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $ 2,996,000 10,130,000 195,000 27,225,000 4,572,000 The following transactions affected stockholders' equity during 2021. 31,800 shares of preferred stock issued at $23 per share. 54,400 shares of common stock issued at $19 per share. 2-for-1 stock split (par value reduced to $2.50). 27,600 shares of common treasury stock purchased at $10 per share. Wildhorse uses the cost method. 10,300 shares of treasury stock reissued at $11 per share. Jan. 1 Feb. 1 June 1 July 1 Sept. 15
July 1 Sept. 15 Dec. 31 Dec. 31 27,600 shares of common treasury stock purchased at $10 per share. Wildhorse uses the cost method. 10.300 shares of treasury stock reissued at $11 per share. The preferred dividend is declared, and a common dividend of 454 per share is declared Net income is $2.075,000. Prepare the stockholders equity section for Wildhorse Company at December 31, 2021 (Enter account name only and do not provide descriptive information.) WILDHORSE COMPANY Stockholders' Equity
Transcribed Image Text:July 1 Sept. 15 Dec. 31 Dec. 31 27,600 shares of common treasury stock purchased at $10 per share. Wildhorse uses the cost method. 10.300 shares of treasury stock reissued at $11 per share. The preferred dividend is declared, and a common dividend of 454 per share is declared Net income is $2.075,000. Prepare the stockholders equity section for Wildhorse Company at December 31, 2021 (Enter account name only and do not provide descriptive information.) WILDHORSE COMPANY Stockholders' Equity
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