b. On September 30, Dynasty repurchased and retire 1,000 shares for $9.00 each,c. What is the balance in the APIC- Retirement account after the September purchase? $Answer the following related to retired stock.a. Retiring stock reduces the number ofb. Retired stock is the same asc. When stocks are purchased and retired common stock and APIC-C/S accounts related tostocksandstockthe shares ared. If the purchase price exceeds the net amount removed from all capital accounts, theexcess is debited first toe. If the purchase price exceeds the net amount removed from all capital accounts, the(not below zero) then toexcess isf. A company'sthe retiring stock.andare always reduced by the amount paid for5. Prepare the following formulas:a. Basic earnings per share (EPS) =b. Price Earnings ratio (PE) =c. Dividend yield =6. Define Preferred stock preferences:a. Cumulative dividendb. Noncumulative dividendC.Callabled. Convertiblee. Nonparticipating dividendf. Participating dividend CyberMaxStockholders' Equity (Before purchase of Treasury Stock)Common stock $10 par, 10,000 shares authorized and issues:Retained earningsTotal stockholders' equity$100.00025,000$125,000On May 1, CyberMax purchases 1,000 of its own shares for $11.50.1. Prepare the journal entry to record the purchase of the treasury stock.2. Prepare the stockholders' equity section after the purchase of the treasure stock.CyberMaxStockholders' Equity (After purchase of Treasury Stock)3. Answer the following questions about treasure stock:Purchase of treasure stock reduces,a.andbut does notreduceor4. Dynasty Corporation had stockholders' equity on January 1 as follows: Common Stock,$5 par value, 1,000,000 shares authorized, 400,000 shares issued; Paid-in Capital inExcess of Par Value, Common Stock, $800,000; Retained Earnings, $3,600,000.Prepare journal entries to record the following retirement transactions:On June 1, Dynasty repurchased and retire 5,000 shares for $4.00 each.a.

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CyberMax Stockholders' Equity (Before purchase of Treasury Stock) $100.000 Common stock $10 par, 10,000 shares authorized and issues: Retained earnings Total stockholders' equity 25,000 $125,000 On May 1, CyberMax purchases 1,000 of its own shares for $11.50. 1. Prepare the journal entry to record the purchase of the treasury stock. 2. Prepare the stockholders' equity section after the purchase of the treasure stock.

CyberMax Stockholders' Equity (Before purchase of Treasury Stock) $100.000 Common stock $10 par, 10,000 shares authorized and issues: Retained earnings Total stockholders' equity 25,000 $125,000 On May 1, CyberMax purchases 1,000 of its own shares for $11.50. 1. Prepare the journal entry to record the purchase of the treasury stock. 2. Prepare the stockholders' equity section after the purchase of the treasure stock.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter15: Shareholders’ Equity: Capital Contributions And Distributions

Section: Chapter Questions

Problem 16E

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Outstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.
STOCK ISSUANCE (NONCASH ASSETS, SUBSCRIPTIONS, AND TREASURY STOCK) Brant Evans had the following stock transactions during the year: (a) Issued 6,000 shares of common stock with a 5 par value in exchange for real estate (land) with a fair market value of 33,500. (b) Issued 5,500 shares of common stock with a 5 par value and 7 fair market value in exchange for a building with an uncertain fair market value. (c) Received subscriptions for 11,000 shares of 5 par common stock for 58,000. (d) Received a payment of 29,000 on the stock subscription in transaction (c). (e) Received the balance in full for the stock subscription in transaction (c) and issued the stock. (f) Purchased 2,000 shares of its own 5 par common stock for 6 a share. (g) Sold 1,000 shares of the treasury stock in transaction (f) for 6.50 a share. (h) Sold 1,000 shares of the treasury stock in transaction (f) for 5.75 a share. Prepare general journal entries for these transactions, identifying each by letter.
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.
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