Deerborn Manufacturing Co. completed the following transactions during 2024 (Click the icon to view the transactions.) Read the requirements. Nov. 30 Cash Paid-In Capital from Treasury Stock Transactions Retained Earnings Treasury Stock-Common Sold treasury stock below cost. Paid-In Capital: Total Paid-In Capital 1,200 1,000 200 Total Stockholders' Equity 2,400 1. Record the transactions in Deerborn's general journal 2. Prepare the Deerborn's stockholders' equity section of the balance sheet as of December 31, 2024 Assume that Deerborn was authorized to issue 2,600 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2024, is $2,060,000. Requirement 2. Prepare the Deerborn's stockholders' equity section of the balance sheet as of December 31, 2024. Assume that Deerborn was authorized to issue 2,600 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2024, is $2,060,000 (Use parentheses or a minus sign for amounts to be subtracted.) Deerborn Manufacturing, Co. Balance Sheet (Partial) December 31, 2024 Stockholders' Equity More info Jan. 16 Feb. 15 Jun. 10 Jul, 30 4 Aug. 15 Oct. 26 Nov. 8 Nov. 30 Print Done Declared a cash dividend on the 6%, $103 par noncumulative preferred stock (1,050 shares outstanding). Declared a $0.20 per share dividend on the 100,000 shares of $2 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Paid the cash dividends. Split common stock 2-for-1. Sav Declared a 30% stock dividend on the common stock. The market value of the common stock was $9 per share. Distributed the stock dividend. Purchased 1,000 shares of treasury stock at $8 per share. Sold 500 shares of treasury stock for $10 per share. Sold 300 shares of treasury stock for $4 per share. - X

Deerborn Manufacturing Co. completed the following transactions during 2024 (Click the icon to view the transactions.) Read the requirements. Nov. 30 Cash Paid-In Capital from Treasury Stock Transactions Retained Earnings Treasury Stock-Common Sold treasury stock below cost. Paid-In Capital: Total Paid-In Capital 1,200 1,000 200 Total Stockholders' Equity 2,400 1. Record the transactions in Deerborn's general journal 2. Prepare the Deerborn's stockholders' equity section of the balance sheet as of December 31, 2024 Assume that Deerborn was authorized to issue 2,600 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2024, is $2,060,000. Requirement 2. Prepare the Deerborn's stockholders' equity section of the balance sheet as of December 31, 2024. Assume that Deerborn was authorized to issue 2,600 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2024, is $2,060,000 (Use parentheses or a minus sign for amounts to be subtracted.) Deerborn Manufacturing, Co. Balance Sheet (Partial) December 31, 2024 Stockholders' Equity More info Jan. 16 Feb. 15 Jun. 10 Jul, 30 4 Aug. 15 Oct. 26 Nov. 8 Nov. 30 Print Done Declared a cash dividend on the 6%, $103 par noncumulative preferred stock (1,050 shares outstanding). Declared a $0.20 per share dividend on the 100,000 shares of $2 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Paid the cash dividends. Split common stock 2-for-1. Sav Declared a 30% stock dividend on the common stock. The market value of the common stock was $9 per share. Distributed the stock dividend. Purchased 1,000 shares of treasury stock at $8 per share. Sold 500 shares of treasury stock for $10 per share. Sold 300 shares of treasury stock for $4 per share. - X

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 9P

See similar textbooks