XYZ, Inc. had the following Stockholder’s Equity Balances as of 1/1/21: Preferred Stock—500 shares @ $100 par value $500,000 Common Stock—10,000 shares @ $10 par value $100,000 Additional Paid-in Capital $250,000 Retained Earnings $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
XYZ, Inc. had the following Stockholder’s Equity Balances as of 1/1/21: Preferred Stock—500 shares @ $100 par value $500,000 Common Stock—10,000 shares @ $10 par value $100,000 Additional Paid-in Capital $250,000 Retained Earnings $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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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XYZ, Inc. had the following Stockholder’s Equity Balances as of 1/1/21:
Common Stock—10,000 shares @ $10 par value $100,000
Additional Paid-in Capital $250,000
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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