At December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data:Common stock (par $2; no changes during the current year).Shares authorized, 5,000,000.Shares issued,Shares held as treasury stock, 10, 000 shares, cost $6 per share.Net income for the current year, $481,000.Common Stock account, $150,000.Dividends declared and paid during the current year, $2 per share.Retained Earnings balance, beginning of year, $800,000.?; issue price $8 per share.Required:Complete the following: (Round "Earnings per share" to 2 decimal places.) 1.Shares issuedShares outstanding2.The balance in Additional Paid-in Capital would be3.Earnings per share is4.Total dividends paid on common stock during the current year isTreasury stock should be reported in the stockholders' equity section of the balance sheet5.in the amount ofAssume that the board of directors voted a 2-for-1 stock split. After the stock split, the par6.value per share will be

1)Shares issued: = Common stock account/ $2 par = $150,000/2 = 75,000 shares Shares outstanding:…

Common stock (par $2; no changes during the current year). Shares authorized, 5,000,e00. Shares issued, ? ; issue price $8 per share. Shares held as treasury stock, 10,000 shares, cost $6 per share. Net income for the current year, $481,000. Common Stock account, $150, e00. Dividends declared and paid during the current year, $2 per share. Retained Earnings balance, beginning of year, $800,e00. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.)

Common stock (par $2; no changes during the current year). Shares authorized, 5,000,e00. Shares issued, ? ; issue price $8 per share. Shares held as treasury stock, 10,000 shares, cost $6 per share. Net income for the current year, $481,000. Common Stock account, $150, e00. Dividends declared and paid during the current year, $2 per share. Retained Earnings balance, beginning of year, $800,e00. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.)

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter12: Statement Of Stockholders’ Equity (stockeq)

Section: Chapter Questions

Problem 1R: Chen Corporation began 2012 with the following stockholders equity balances: The following selected...

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Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements. Open the file STOCKEQ from the website for this book at cengagebrain.com. Enter the formulas in the appropriate cells on the worksheet. Then fill in the columns to show the effect of each of the selected transactions and events listed earlier. Enter your name in cell A1. Save the completed worksheet as STOCKEQ2. Print the worksheet. Also print your formulas. Check figure: Total stockholders equity balance at 12/31/12 (cell G21). 398,800.