Company E reports the following stockholders' equity: Common Stock, 100,000 authorized, 30,000 issued, $3 par ? Paid-In Common Stock 93,000 Less: Treasury Stock, 5000 shares (15,000) Retained Earnings 40,000 What was the average price the common stock was issued?
Q: The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are…
A: Stockholders’ equity:The claims of owners on a company’s resources, after the liabilities are paid…
Q: The year end balance sheet of Ft. Smith Products includes the following stockholders equity section…
A: D) Average issuance price = common capital stock +Additional paid - in capital / no. of shares…
Q: What is the return on common stockholders’ equity based on the following: Beginning Common…
A:
Q: Using the following accounts and balances, prepare the “Stockholders’ Equity” section of the balance…
A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…
Q: The stockholders’ equity section of Sheffield Corporation consists of common stock ($10 par)…
A: stock dividend is a form of dividend where instead of cash companies issue additional shares to the…
Q: Below is some select information from a company's balance sheet. $140,000 Preferred Stock (10,000…
A: Stockholders' equity: Stockholders' equity means the net assets available to shareholders after…
Q: A company with 88,000 authorized shares of $8 par common stock issued 30,000 shares at $12.…
A: Retained earnings are the earning which is not distributed among shareholders in the form of…
Q: A total of 400,000 shares of common stock and 20,000 shares of preferred stock were outstanding at…
A: Book value per share Book value per share is referred to as the ratio of equity available to common…
Q: A corporation reported the following equity section on its current balance sheet. The common stock…
A: SOLUTION- STOCK DIVIDEND IS A TYPE OF DIVIDENDS THAT ISSUED TO SHAREHOLDERS IN TERMS OF SHARES.
Q: Using the following accounts and balances, prepare the Stockholders' Equity section of t common…
A: Solution: Stockholders' Equity Paid in Capital: Common stock 2000000 Paid in capital…
Q: Stockholders' Equity Section of Balance Sheet Below is the Stockholders' Equity section of the…
A: Stockholders' equity section of a balance sheet contains the total details of common stock,…
Q: What is the total stockholders' equity based on the following account balances? Common Stock…
A: Total Stockholders Equity = Total Paid in Capital + Retained Earnings - Treasury Stock
Q: Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year…
A: I-Cards Inc Statement of stockholders' equity For the year ended December 31 2019…
Q: Sage presented the following data. Net income $5,912,000 Bonds: 10%, $689,000 par value 678,200…
A: Solution: Date Outstanding Shares Oustanding (A) Restatement (B) Fraction of Year © Weighted…
Q: The stockholders’ equity section of Velcro World is presented here.VELCRO WORLD Balance Sheet…
A: Stockholder's equity shows the value of the assets remaining for the stockholders after the…
Q: A company has the following stockholders' equity accounts at December 31, 2020.…
A: The shares are issued by companies to invite the investors to invest into the business.
Q: What is the total stockholders' equity based on the following data? Common stock $904,000 Excess of…
A: Solution: Total Stockholders' Equity = Common stock + excess of issue price over par for Common…
Q: The Torre Company has the following stockholders' equity account balances in stockholders equity on…
A: The stockholders equity section of a balance sheet represents the owner's claim in the assets of the…
Q: At December 31, the stockholders’ equity section shows: Ordinary share capital, P10 par value;…
A: At December 31, the Stockholders’ equity section shows: Ordinary share capital, P10 par value…
Q: The following was provided by Elephant Company as of December 31, Year 2: Net income $ 528,000…
A: Earnings per share: Earnings per share represent the amount of income earned per share of…
Q: The stockholders' equity section of Sheridan Corporation consists of common stock ($10 par)…
A: Stockholder's equity, also known as shareholder's equity or corporate capital, is the sum of a…
Q: The price-earnings ratio is closest to:
A: Formula: PE Ratio= Market Value Per ShareEarning Paer Share Earining Per Share= Net Income-…
Q: The Howe Company's stockholders' equity account is as follows Common stock (800,00 shares at $4…
A: a) Maximum Dividend = Retained Earnings / No. of shares
Q: What is the total stockholders' equity based on the following account balances? Common Stock…
A: Stockholders' equity:
Q: Texas Inc. has 6,629 shares of 8%, $100 par value cumulative preferred stock and 84,120 shares of $1…
A: The annual dividend is calculated on the basis of the total par value of the preferred stock and the…
Q: Reporting Using the following accounts and balances, prepare the "Stockholders' Equity" section of…
A: Treasury stock: Shares which are bought back by the company from the open market but not retired…
Q: Reporting Stockholders' Equity Using the following accounts and balances, prepare the…
A: The stockholder's equity includes common stockholder's equity and preferred stock. but it excludes…
Q: Using the information below, compute total stockholders' equity. Additional Paid-in Capital, Common…
A: 6) Ending retained earnings = Beginning retained earnings + Net income - Dividend =…
Q: Stockholders' Equity Section of Balance Sheet Below is the Stockholders' Equity section of the…
A: The statement of owner equity is the part of balance sheet.
Q: A firm has $1,500,000 in its common stock account and $1,000,000 in its capital paid in excess of…
A: Issue Price =(Common Stock Account+Additional Paid in Capital Account)Number of shares issued
Q: The stockholders’ equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet…
A: No. of Common stock = Common stock capital / Common stock par value = 11,000/1 = 11,000 shares…
Q: Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year…
A: Treasury Stock : Treasury stock or reacquired stock is a portion of previously issued, outstanding…
Q: The Torre Company has the following stockholders' equity account balances in stockholders equity on…
A: Common stock outstanding is the shares held by the shareholders of the company in the open market.…
Q: The Howe Company's stockholders' equity account is as follows Common stock (800,00 shares at $4…
A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…
Q: What is the total stockholders' equity based on the following account balances? Common Stock…
A: Total stockholders equity = Common stock + Paid in capital in excess of par + retained earnings -…
Q: At December 31, Idaho Company had the following ending account balances: Retained Earnings:…
A: Idaho Company Stockholders' Equity December 31 Paid-in capital: Common stock,…
Q: The following data has been collected about a company's stockholders' equity accounts Common stock…
A: Treasury stock was an stock which was reacquired by the company resulting in reduction of number of…
Q: Texas Inc. has 4,724 shares of 8%, $100 par value cumulative preferred stock and 83,877 shares of $1…
A: Dividends = Preferred Shares, Par Value x Dividend Rate
Q: How much is the total stockholder's equity?
A: Equity share capital refers to the capital which is raised by a corporation by offering shares.
Q: Ix Company issued 42,000 shares of $10 par value common stock at a market price of $34. As a result…
A: Stockholder equity = Value of Common stock + Paid-in capital in excess of par
Q: total stockholders' equity
A: Total stockholder's equity = Common Stock + Paid -In Capital in Excess of Par + Retained Earnings -…
Q: Using the following accounts and balances prepare the stockholders equity section of the balance…
A: Stockholder equity section of the balance sheet represents the amount invested by the owners. This…
Q: Reporting Stockholders' Equity Using the following accounts and balances, prepare the…
A: Stockholder's equity is a section which indicates about that total shares capital introduced into…
Q: The Torre Company has the following stockholders' equity account balances in stockholders equity on…
A: Shares of common stock outstanding=Total common shares-Treasury shares
Q: Reporting Stockholders' Equity Using the following accounts and balances, prepare the…
A: Reacquired treasury shares must be measured at cost only
Q: Mave company has given the following data about its common stock: Par value =$1 per share…
A: Treasury stock or shares are the stock which was brought back by the company. Outstanding shares of…
Q: Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year…
A: Solution:- Preparation of statement of stockholders’ equity for the year ended December 31, 20Y9 as…
Q: On December 31, Sulfur Corporation has the following data available: Net Income $100,000 $5 Market…
A: Earnings per share = (net income - preferred dividend)/Weighted average no. of common shares…
Q: The financial statements for Highland Corporation included the following selected information:…
A: Treasury shares is the difference of shares issued and shares outstanding. Treasury stock = Shares…
Q: Reporting Stockholders' Equity Using the following accounts and balances, prepare the…
A: Definition: Balance sheet: This financial statement reports a company’s resources (assets) and…
Company E reports the following
Common Stock, 100,000 authorized, 30,000 issued, $3 par |
? |
Paid-In Common Stock |
93,000 |
Less: |
(15,000) |
|
40,000 |
What was the average price the common stock was issued?
Share: A share is a document that states a proof of an ownership of a company. A share states a partial ownership over the company.
Step by step
Solved in 2 steps with 1 images
- STOCKHOLDERS EQUITY SECTION After closing its books on December 31, Pro Parts stockholders equity accounts had the following balances: Common stock subscriptions receivable 5,000 Common stock, 5 par, 12,000 shares 60,000 Preferred stock, 10 par, 4%, 4,000 shares 40,000 Common stock subscribed, 5 par, 3,000 shares 15,000 Paid-in capital in excess of par-common stock 4,000 Retained earnings 35,000 Prepare the stockholders equity section of the balance sheet.A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the transaction would include which of the following? A. debit of $4,000 to common stock B. credit of $20,000 to common stock C. credit of $40 to common stock D. debit of $20,000 to common stockStockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. Preferred stock subscriptions receivable 50,000 Preferred stock, 10 par, 9% (200,000 shares authorized; 20,000 shares issued)200,000 Preferred stock subscribed (10,000 shares)100,000 Paid-in capital in excess of parpreferred stock40,000 Common stock, 10 par (100,000 shares authorized; 60,000 shares issued)600,000 Paid-in capital in excess of parcommon stock250,000 Retained earnings750,000 During 20--, Gonzales Company completed the following transactions affecting stockholders equity: (a) Received 20,000 for the balance due on subscriptions for 4,000 shares of preferred stock with a par value of 40,000 and issued the stock. (b) Purchased 10,000 shares of common treasury stock for 18 per share. (c) Received subscriptions for 10,000 shares of common stock at 19 per share, collecting down payments of 45,000. (d) Issued 15,000 shares of common stock in exchange for land with a fair market value of 290,000. (e) Sold 5,000 shares of common treasury stock for 100,000. (f) Issued 10,000 shares of preferred stock at 11.50 per share, receiving cash. (g) Sold 3,000 shares of common treasury stock for 17 per share. REQUIRED 1. Prepare general journal entries for the transactions, identifying each transaction by letter. 2. Post the journal entries to appropriate T accounts. The cash account has a beginning balance of 300,000. 3. Prepare the stockholders equity section of the balance sheet as of December 31, 20--. Net income for the year was 825,000 and dividends of 400,000 were paid.
- STOCKHOLDERS EQUITY SECTION After closing its books on December 31, Mel Brothers stockholders equity accounts have the following balances: Common stock subscriptions receivable 6,000 Common stock, 6 par, 15,000 shares 90,000 Preferred stock, 10 par, 8%, 10,000 shares 100,000 Common stock subscribed, 6 par, 5,000 shares 30,000 Retained earnings 50,000 Prepare the stockholders equity section of the balance sheet.Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the stock dividend distribution on July 31?Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. (a)Received 20,000 for the balance due on subscriptions for preferred stock with a par value of 40,000 and issued the stock. (b)Purchased 10,000 shares of common treasury stock for 18 per share. (c)Received subscriptions for 10,000 shares of common stock at 19 per share, collecting down payments of 45,000. (d)Issued 15,000 shares of common stock in exchange for land with a fair market value of 290,000. (e)Sold 5,000 shares of common treasury stock for Si00,000. (f)Issued 10,000 shares of preferred stock at 11.50 per share, receiving cash. (g)Sold 3,000 shares of common treasury stock for 17 per share. REQUIRED 1. Prepare general journal entries for the transactions, identifying each transaction by letter. 2. Post the journal entries to appropriate T accounts. The cash account has a beginning balance of 300,000. 3. Prepare the stockholders equity section of the balance sheet as of December 31, 20--. Net income for the year was 825,000 and dividends of 400,000 were paid.
- Prepare the stockholders equity section of the balance sheet based on the following account balances: Common stock, 2 par, 60,000 shares 120,000 Preferred stock, 10 par, 5%, 4,000 shares 40,000 Common stock subscribed, 2 par, 3,000 shares 6,000 Retained earnings 17,000 The answers to the Self-Study Test Questions are at the end of the chapter (pages 811812).Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. The bonds are classified as a held-to-maturity long -term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method . q. Accrued interest for three months on the Dream Inc. bonds purchased in (I). r. Pinkberry Co. recorded total earnings of 240 ,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39. 02 per share on December 31, 2016. The investment is adjusted to fair value , using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. ( Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016.Nutritious Pet Food Companys board of directors declares a small stock dividend (20%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the stock dividend distribution on July 31?
- Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend?PAR AND NO-PAR, COMMON AND PREFERRED STOCK Valdez Company had the following stock transactions during the first 5 years of operations: (a) Issued 24,000 shares of 1 par common stock for 26,000 cash. (b) Issued 18,000 shares of 1 par common stock for 18,000 cash. (c) Issued 3,000 shares of 10 par, 7% preferred stock for 30,000 cash. (d) Issued 4,500 shares of 10 par, 7% preferred stock for 46,500 cash. (e) Issued 1,800 shares of no-par common stock for 10,475 cash. (f) Issued 1,100 shares of no-par, 7 preferred stock for 32,000 cash. REQUIRED 1. Prepare general journal entries for these transactions, identifying each by letter. 2. Assume that stock transactions a, b, and c occurred in year 1. The amount available for dividends at the end of year 1 is 12,600. Prepare the dividend allocation between the preferred and common shares in total and per share for year 1.A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional paid-in capital would be ________. A. $11,985 B. $12,000 C. $15 D. $10,150