XYZ, Inc. had the following Stockholder's Equity Balances as of 1/1/21: Preferred Stock-500 shares @ $100 par value Common Stock-10,000 shares @ $10 par value Additional Paid-in Capital Retained Earnings During the year the following events occurred: 5000 share of common stock was issued on 3/1/21 at $12 per share. 1000 shares of its on stock was purchased on 6/1/21 at $15 per share Net Income for the year was $45,000 XYZ, Inc. declared a 2 for 1 stock split on 11/1/21 Dividends declared 12/15/21 at $1.50 per share to be paid 1/15/22 Calculate the following items as of 12/31/21 Total Contributed Capital Retained Earnings Balance Total stockholder's Equity $500,000 $100,000 $250,000 $700,000
XYZ, Inc. had the following Stockholder's Equity Balances as of 1/1/21: Preferred Stock-500 shares @ $100 par value Common Stock-10,000 shares @ $10 par value Additional Paid-in Capital Retained Earnings During the year the following events occurred: 5000 share of common stock was issued on 3/1/21 at $12 per share. 1000 shares of its on stock was purchased on 6/1/21 at $15 per share Net Income for the year was $45,000 XYZ, Inc. declared a 2 for 1 stock split on 11/1/21 Dividends declared 12/15/21 at $1.50 per share to be paid 1/15/22 Calculate the following items as of 12/31/21 Total Contributed Capital Retained Earnings Balance Total stockholder's Equity $500,000 $100,000 $250,000 $700,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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C.27.
Transcribed Image Text:XYZ, Inc. had the following Stockholder's Equity Balances as of 1/1/21:
Preferred Stock-500 shares @ $100 par value
Common Stock-10,000 shares @ $10 par value
Additional Paid-in Capital
Retained Earnings
$500,000
$100,000
$250,000
$700,000
During the year the following events occurred:
5000 share of common stock was issued on 3/1/21 at $12 per share.
1000 shares of its on stock was purchased on 6/1/21 at $15 per share
Net Income for the year was $45,000
XYZ, Inc. declared a 2 for 1 stock split on 11/1/21
Dividends declared 12/15/21 at $1.50 per share to be paid 1/15/22
Calculate the following items as of 12/31/21
Total Contributed Capital
Retained Earnings Balance
Total stockholder's Equity
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