C. Issuedshares of preferred stock at par value. (Please refer to table below and use only the info in linewith your first name initial in the blank/underlined space).firstname Initial # of shares issuedA, P, I, E, VC, O, R, YK, Q, M, FS, W, G, ZD, T, L, UN, B, J, X, HPar Value50% of authorised shares $100.0040% of authorised shares$110.0030% of authorised shares$125.0025% of authorised shares$145.0020% of authorised shares$168.0010% of authorised shares $192.00D. Exchangedshares of class A common stock for Office Furniture and Equipment with an appraised value ofand Motor Truck with an appraised value of $(Please refer to table below and use only the info in linewith your first name initial in the blank/underlined space).firstname Initial # of shares issuedA, P, I, E, VC, O, R, YK, Q, M, FS, W, G, ZD, T, L, UN, B, J, X, HOffice Furniture Motor truck$ 4,000,000.00 $ 10,000,000.00$ 4,000,000.00 $ 10,000,000.0040% of authorised shares50% of authorised shares|40% of authorised shares $ 4,000,000.00 $ 10,000,000.0040% of authorised shares|40% of authorised shares20% of authorised shares$ 4,000,000.00 $ 10,000,000.00$ 4,000,000.00 $ 10,000,000.00$ 4,000,000.00 | $ 10,000,000.00 E. Earned Net income S(Please refer to table below and use only the info in line with your first name initialin the blank/underlined space)firstname Initial Net IncomeAP.LE, VC,O,R, YK.Q. M,FS, W, G, ZD, T, L,UN, B, J, X, H1,500,000.001,800,000.002,000,000.001,400,000.001,450,000.001,500,000.00F. Declared interim dividends for preferred shareholders as well as $.80 per share to common stockholders.Using the info above and as a guide:A Prepare the journal entries with narrations to record the following:• The issuances of stock.• Close out net income to retained earnings.Dividend declared.• Close out dividend to retained earnings.B. Prepare the company's Stockholders equity section of the balance sheet at December 31, 2020. (Hint!!) Thefollowing information must be clearly stated/shown:information on par or par values for all classes of shares which must be shown separately.ACCT1002 Introduction to Financial Accountingthe number of shares authorized and issued where necessary.the sub total for the total paid in capital.Retained earnings.• total stockholders' equity.

Here student asked for multi sub part question we will answer for first three sub part question for…

C. Issued shares of preferred stock at par value. (Please refer to table below and use only the info in line with your first name initial in the blank/underlined space). firstname Initial # of shares issued A, P, I, E, V C, O, R, Y К, а, М, F S, W, G, Z D, T, L, U N, B, J, X, H Par Value 50% of authorised shares $ 40% of authorised shares $ |30% of authorised shares $ |25% of authorised shares $ 20% of authorised shares $ |10% of authorised shares $ 100.00 110.00 125.00 145.00 168.00 192.00 D. Exchanged shares of class A common stock for Office Furniture and Equipment with an appraised value of

C. Issued shares of preferred stock at par value. (Please refer to table below and use only the info in line with your first name initial in the blank/underlined space). firstname Initial # of shares issued A, P, I, E, V C, O, R, Y К, а, М, F S, W, G, Z D, T, L, U N, B, J, X, H Par Value 50% of authorised shares $ 40% of authorised shares $ |30% of authorised shares $ |25% of authorised shares $ 20% of authorised shares $ |10% of authorised shares $ 100.00 110.00 125.00 145.00 168.00 192.00 D. Exchanged shares of class A common stock for Office Furniture and Equipment with an appraised value of

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 5P: Alert Companys shareholders equity prior to any of the following events is as follows: The company...

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Alert Companys shareholders equity prior to any of the following events is as follows: The company is considering the following alternative items: 1. An 8% stock dividend on the common stock when it is selling for 30 per share. 2. A 30% stock dividend on the common stock when it is selling for 32 per share. 3. A special stock dividend to common shareholders consisting of 1 share of preferred stock for every 100 shares of common stock. The preferred stock and common stock are selling for 123 and 31 per share, respectively. 4. A 2-for-1 stock split on the common stock, reducing the par value to 5 per share (assume the same date for declaration and issuance). The market price is 30 per share on the common stock. 5. A property dividend to common shareholders consisting of 100 bonds issued by West Company. These bonds are carried on the Alert Company books as an available-for sale investment at a fair value of 48,000 (which is also its cost); it has a current value of 54,000. 6. A cash dividend, consisting of a normal dividend and a liquidating dividend, on both the preferred and the common stock. The 10% preferred dividend includes a 2% liquidating dividend, and the 2.30 per share common dividend includes a 0.30 per share liquidating dividend (separate liquidating dividend contra accounts should be used). Required: For each of the preceding alternative items: 1. Record (a) the journal entry at the date of declaration and (b) the journal entry at the date of issuance. 2. Compute the balances in the shareholders equity accounts immediately after the issuance (any gains or losses are to be reflected in the retained earnings balance; ignore income taxes).
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