Windsor, Inc.'s stockholders equity section at December 31, 2019, appears below: Stockholder's equity Paid-in capital Common stock, $10 par, 60,000 outstanding Paid-in capital in excess of par Total paid-in capital $600,000 179,000 $779,000 Retained earnings 152,000 Total stockholder's equity $931,000 On June 30, 2020, the board of directors of Windsor, Inc. declared a 15% stock dividend, payable on July 31, 2020, to stockholders of record on July 15, 2020. The fair value of Windsor, Inc.'s stock on June 30, 2020, was $16. On December 1, 2020, the board of directors declared a 2-for-1 stock split effective December 15, 2020. Windsor, Inc.'s stock was selling for $18 on December 1, 2020, before the stock split was declared. Par value of the stock was adjusted. Net income for 2020 was $231.000 and there were no cash dividends declared

Windsor, Inc.'s stockholders equity section at December 31, 2019, appears below: Stockholder's equity Paid-in capital Common stock, $10 par, 60,000 outstanding Paid-in capital in excess of par Total paid-in capital $600,000 179,000 $779,000 Retained earnings 152,000 Total stockholder's equity $931,000 On June 30, 2020, the board of directors of Windsor, Inc. declared a 15% stock dividend, payable on July 31, 2020, to stockholders of record on July 15, 2020. The fair value of Windsor, Inc.'s stock on June 30, 2020, was $16. On December 1, 2020, the board of directors declared a 2-for-1 stock split effective December 15, 2020. Windsor, Inc.'s stock was selling for $18 on December 1, 2020, before the stock split was declared. Par value of the stock was adjusted. Net income for 2020 was $231.000 and there were no cash dividends declared

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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Question

All I need help with is part b: Fill in the amount that would appear in the stockholders’ equity section for Windsor, Inc. at December 31, 2020, for the following items:

Windsor, Inc.'s stockholders' equity section at December 31, 2019, appears below:
Stockholder's equity
Paid-in capital
Common stock, $10 par, 60,000
outstanding
Paid-in capital in excess of par
Total paid-in capital
Retained earnings
$600,000
179,000
$779,000
152,000
$931,000
Total stockholder's equity
On June 30, 2020, the board of directors of Windsor, Inc. declared a 15% stock dividend, payable on July 31, 2020, to stockholders of
record on July 15, 2020. The fair value of Windsor, Inc.'s stock on June 30, 2020, was $16.
On December 1, 2020, the board of directors declared a 2-for-1 stock split effective December 15, 2020. Windsor, Inc.'s stock was
selling for $18 on December 1, 2020, before the stock split was declared. Par value of the stock was adjusted. Net income for 2020
was $231,000 and there were no cash dividends declared.
(a)

Date
Account Titles and Explanation
Debit
Credit
6/30/17 v
Stock Dividends
144000
Common Stock Dividends Distributable
90000
Paid-in Capital in Excess of Par Value-Common St
54000
7/15/17
No Entry
No Entry
7/31/17
Common Stock Dividends Distributable
90000
Common Stock
90000
12/1/17 v
No Entry
No Entry
12/15/17 vNo Entry
No Entry
Click if you would like to Show Work for this question: Open Show Work
SHOW LIST OF ACCOUNTS
SHOW SOLUTION
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LINK TO TEXT
(ь)
Fill in the amount that would appear in the stockholders' equity section for Windsor, Inc. at December 31, 2020, for the following items:
1. Common stock
2.
Number of shares outstanding
3.
Par value per share
4. Paid-in capital in excess of par
5. Retained earnings
6. Total stockholders' equity
%24
>
>

Definition Definition Assets available to stockholders after a company's liabilities are paid off. Stockholders’ equity is also sometimes referred to as owner's equity. A stockholders’ equity or book value generally includes common stock, preferred stock, and retained earnings and is an indicator of a company's financial strength.

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