Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Textbook Question
Chapter 12, Problem 5R
Click the Chart sheet tab. The stacked bar chart shows Chenʼs equity account balances at December 31, 2013. Match the stacked bars (A–G) that best describe what will happen to the equity accounts if the following transactions and events occur in 2014.
Letters may be repeated or not used. Consider each case independently. 
When the assignment is complete, close the file without saving it again.
TICKLERS (optional)
Worksheet. Suppose that the $54,000 “Additional paid-in capital” balance at December 31, 2011, comes from two ledger accounts: $42,000 from Paid-in capital in excess of par and $12,000 from Paid-in capital from
Chart. Using the STOCKEQ4 file, prepare a column chart showing the dollar amount of each of the stockholdersʼ equity account balances at December 31, 2013. Treasury stock can be shown as a negative value. Enter your name somewhere on the chart. Save the file again as STOCKEQ4. Print the chart.
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Students have asked these similar questions
On December 31, 2023, Carla Vista Corporation, a public company, had the following shareholders' equity accounts:
CARLA VISTA CORPORATION
Balance Sheet (partial)
December 31, 2023
Shareholders' equity
Common shares (unlimited number of shares authorized, 95,000 issued)
Retained earnings
Total shareholders' equity
During the year, the following transactions occurred:
Jan. 15 Declared a $1 per share cash dividend to shareholders of record on January 31, payable February 15.
Announced a 2-for-1 stock split. The market price per share on the date of the announcement was $18.
Declared a 15% stock dividend to shareholders of record on December 30, distributable on January 15. On
December 15, the market price of each share was $9: on December 30, $10, and on January 15, $9.
July
Dec. 15
Determined that profit before income tax for the year was $413,000. The company has a 30% income tax rate.
1
$1,145,000
560,000
$1,705,000
31
Timmy Company's comparative balance sheet at January 31, 2022, and 2021, reports the following (in millions):
E (Click the icon to view the comparative balance sheet.)
Read the requirements.
Begin by reviewing the labels for the change in stockholders' equity and then enter the amounts for each situation. (Enter an amount in each input area. Input a "0" when there is no amount to be entered. Enter amounts in millions. Use a minus sign or
parentheses when entering net losses or numbers to be subtracted.)
Situation #1
Total stockholders' equity, January 31, 2021
Data table
Add: Issuance of stock
Net income
2022
2021
Less: Dividends declared
Total assets
$
72 $
52
Net loss
Total liabilities
20
16
Total stockholders' equity, January 31, 2022
Print
Done
Requirements
The following are three situations related Timmy Company's issuance of stock and declaration
and payment of dividends during the year ended January 31, 2022. For each situation, use the
accounting equation and what you know from…
Floral Gardens Incorporated is a nationwide chain of garden centres that operates as a private company. In 2023 it issued three new financial instruments. All three of these
instruments are new to you (in your role as controller), and you are working on determining how they are to be accounted for under IFRS. The first financial instrument was a loan. On
January 1, 2020, the company borrowed $5.5 million from a key shareholder at a rate of 3%, at a time when the market rate of interest was 5%. In order to convince the
shareholder to lend the money to the company at a rate lower than the market rate of interest, the company agreed that, in five years, the shareholder would have the option of either
accepting full repayment of the debt, or receiving 500, 000 shares in the company. The second financial instrument was one that you benefited from. The company gave its 10 key
management employees a compensatory stock option plan for the first time. The purpose was to increase remuneration…
Chapter 12 Solutions
Excel Applications for Accounting Principles
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