Loose-leaf for Fundamentals of Financial Accounting with Connect
5th Edition
ISBN: 9781259619007
Author: Fred Phillips Associate Professor
Publisher: McGraw-Hill Education
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Chapter 11, Problem 11.3E
Preparing the Stockholders' Equity Section of the
North Wind Aviation received its charter during January authorizing the following capital stock:
The following transactions occurred during the first year of operations in the order given:
- a. Issued a total of 40,000 shares of the common stock for $15 per share.
- b. Issued 10,000 shares of the preferred stock at $16 per share.
- c. Issued 3,000 shares of the common stock at $20 per share and 1,000 shares of the preferred stock at $16.
- d. Net income for the first year was $48,000.
Required:
Prepare the stockholders’ equity section of the balance sheet at December 31.
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North Wind Aviation received its charter during January authorizing the following capital stock:
Preferred stock: 8 percent, par $10, authorized 20,000 shares.
Common stock: par $1, authorized 50,000 shares.
The following transactions occurred during the first year of operations in the order given:
a. Issued a total of 36,000 shares of the common stock for $19 per share.
b. Issued 12,000 shares of the preferred stock at $20 per share.
c. Issued 2,600 shares of the common stock at $24 per share and 1,200 shares of the preferred stock at $20.
d. Net income for the first year was $44,000, but no dividends were declared.
Required:
Prepare the stockholders' equity section of the balance sheet at December 31.
Contributed Capital:
NORTH WIND AVIATION
Balance Sheet (Partial)
At December 31
Stockholders' Equity
Total Contributed Capital
Total Stockholders' Equity
$
0
0
North Wind Aviation received its charter during January authorizing the following capital stock:Preferred stock: 8 percent, par $10, authorized 20,000 shares.Common stock: par $1, authorized 50,000 shares.
The following transactions occurred during the first year of operations in the order given:
Issued a total of 41,000 shares of the common stock for $16 per share.
Issued 11,000 shares of the preferred stock at $17 per share.
Issued 3,100 shares of the common stock at $21 per share and 1,100 shares of the preferred stock at $17.
Net income for the first year was $49,000, but no dividends were declared.
Required:
Prepare the stockholders’ equity section of the balance sheet at December 31.
please avoid solutions in image format thank you
North Wind Aviation received its charter during January authorizing the following capital stock:Preferred stock: 8 percent, par $10, authorized 20,000 shares.Common stock: par $1, authorized 50,000 shares.
The following transactions occurred during the first year of operations in the order given:
Issued a total of 35,000 shares of the common stock for $20 per share.
Issued 10,000 shares of the preferred stock at $21 per share.
Issued 2,500 shares of the common stock at $25 per share and 1,000 shares of the preferred stock at $21.
Net income for the first year was $43,000, but no dividends were declared.
Required:
Prepare the stockholders’ equity section of the balance sheet at December 31.
Chapter 11 Solutions
Loose-leaf for Fundamentals of Financial Accounting with Connect
Ch. 11 - Prob. 1QCh. 11 - Prob. 2QCh. 11 - Prob. 3QCh. 11 - Explain each of the following terms: (a)...Ch. 11 - What are the differences between common stock and...Ch. 11 - What is the distinction between par value and...Ch. 11 - What are the usual characteristics of preferred...Ch. 11 - What items are included in Accumulated Other...Ch. 11 - What is treasury stock? Why do corporations...Ch. 11 - How is treasury stock reported on the balance...
Ch. 11 - What are the two financial requirements to support...Ch. 11 - What is the difference between cumulative and...Ch. 11 - What is a stock dividend? How does a stock...Ch. 11 - What are the primary reasons for issuing a stock...Ch. 11 - Your company has been very profitable and expects...Ch. 11 - Identify and explain four important dates with...Ch. 11 - Prob. 17QCh. 11 - How do stock repurchases affect the EPS and ROE...Ch. 11 - What is one interpretation of a high P/E ratio?Ch. 11 - Prob. 20QCh. 11 - Which feature is not applicable to common stock...Ch. 11 - Which statement regarding treasury stock is false?...Ch. 11 - Which of the following statements about stock...Ch. 11 - Which of the following is ordered from the largest...Ch. 11 - Prob. 5MCCh. 11 - A journal entry is not recorded on what date? a....Ch. 11 - Prob. 7MCCh. 11 - Prob. 8MCCh. 11 - Prob. 9MCCh. 11 - Equity versus Debt Financing Indicate whether each...Ch. 11 - Computing the Number of Issued Shares Face 2 Face...Ch. 11 - Computing the Number of Unissued Shares The...Ch. 11 - Analyzing and Recording the Issuance of Common...Ch. 11 - Analyzing and Recording the Issuance of No-Par...Ch. 11 - Determining the Effects of Stock Issuance and...Ch. 11 - Determining the Amount of a Dividend Netpass...Ch. 11 - Recording Dividends On May 20, the board of...Ch. 11 - Determining the Impact of a Stock Dividend Sturdy...Ch. 11 - Determining the Impact of a Stock Split Complete...Ch. 11 - Determining the Amount of a Preferred Dividend...Ch. 11 - Determining the Amount of a Preferred Dividend...Ch. 11 - Calculating and Interpreting Earnings per Share...Ch. 11 - Inferring Financial Information Using the P/E...Ch. 11 - (Supplement 11A) Comparing Owner's Equity to...Ch. 11 - (Supplement 11B) Recording a Stock Dividend To...Ch. 11 - Computing Shares Outstanding The 2013 annual...Ch. 11 - Reporting Stockholders' Equity and Determining...Ch. 11 - Preparing the Stockholders' Equity Section of the...Ch. 11 - Reporting the Stockholders' Equity Section of the...Ch. 11 - Determining the Effects of the Issuance of Common...Ch. 11 - Recording and Reporting Stockholders' Equity...Ch. 11 - Finding Amounts Missing from the Stockholders'...Ch. 11 - Recording Treasury Stock Transactions and...Ch. 11 - Prob. 11.9ECh. 11 - Prob. 11.10ECh. 11 - Recording Dividends and Preparing a Statement of...Ch. 11 - Analyzing Stock Dividends On December 31, the...Ch. 11 - Prob. 11.13ECh. 11 - Comparing 100 percent Stock Dividend and 2-for-1...Ch. 11 - Journalizing Cash Dividends Bogscraft Company has...Ch. 11 - Preparing a Statement of Retained Earnings and...Ch. 11 - Determining the Effect of a Stock Repurchase on...Ch. 11 - (Supplement 11 A) Comparing Stockholders' Equity...Ch. 11 - Prob. 11.19ECh. 11 - Analyzing Accounting Equation Effects, Recording...Ch. 11 - Recording Stock Dividends Activision Blizzard,...Ch. 11 - Finding Missing Amounts At December 31, the...Ch. 11 - Prob. 11.4CPCh. 11 - Prob. 11.5CPCh. 11 - Analyzing Accounting Equation Effects, Recording...Ch. 11 - Recording Cash Dividends National Chocolate Corp....Ch. 11 - Finding Missing Amounts At December 31, the...Ch. 11 - Calculating Common and Preferred Cash Dividends...Ch. 11 - Prob. 11.5PACh. 11 - Analyzing Accounting Equation Effects, Recording...Ch. 11 - Prob. 11.2PBCh. 11 - Prob. 11.3PBCh. 11 - Prob. 11.4PBCh. 11 - Prob. 11.5PBCh. 11 - COMPREHENSIVE PROBLEM Financial Reporting of...Ch. 11 - Recording Daily and Adjusting Entries, and...Ch. 11 - Finding Financial Information Refer to the...Ch. 11 - Prob. 11.2SDCCh. 11 - Prob. 11.4SDCCh. 11 - Prob. 11.5SDCCh. 11 - Critical Thinking: Making a Decision asan Investor...Ch. 11 - CC11 Accounting for Equity Financing Nicole has...
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Stockholders Equity: How to Calculate?; Author: Accounting University;https://www.youtube.com/watch?v=2jZk1T5GIlw;License: Standard Youtube License