Quickbux Co. issued and sold 1,000 shares of common stock, with a par value of $5, for $12 per share.  The company's balance in retained earnings is $90,000.  What items/accounts and $ balances would you expect to see in the shareholder's equity section of the company's balance sheet (i.e., stock, retained earnings, etc.)?

Q: Ecker Company reports $1,950,000 of net income and declares $273,000 of cash dividends on its…

A: In order to determine the Earning per share, the Earnings available to common shareholders are…

Q: Beta Co. sold 10,000 shares of common stock, which has a par value of $25, for $27 per share.The…

A: Stockholders' equity section of a balance sheet includes paid in capital and retained earnings.

Q: Sneed Corporation issues 13,300 shares of $46 par preferred stock for cash at $61 per share. The…

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A: Share capital: It refers to the cap[ital raised by the company by issuing common stock or preferred…

Q: The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $75 per share.…

A: Paid in capital in excess of par = (Issue price per share - Face value per share) x No. of shares =…

Q: Nexis Corp. issues 2,470 shares of $12 par value common stock at $17 per share. When the transaction…

A: A company can issue its common stock at Par, discount or at premium. When a stock is issued at…

Q: ViewPoint Security's financial statements, which were constructed a few days ago, report the company…

A: Earnings per share(EPS): EPS = Net income / Out standing equity shares EPS = $2,100,000/ 500,000 EPS…

Q: Senior life co. Is an HMO for businesses in the Portland area. The following account balances appear…

A: The market value of stock is given and dividend is to be provided on the basis of market value.

Q: Kelley Company reports $960,000 of net Income and declares \$120,000 of cash dividends on its…

A: Earnings per share refer to the amount earned by each stockholder. This can be identified by…

Q: enior Life Co. is an HMO for businesses in the Portland area. The following account balances appear…

A: Dividend means the amount of profit which is distributed to the shareholder or owner of the company.…

Q: Astro Corporation was started with the issue of 2,000 shares of $5 par stock for cash on January 1,…

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: Centex, Inc. issued 47,000 shares of its $1 par value common stock for $30 per share. The journal…

A: The company can raise funds by various methods. Some of them are, by way of issuing common stock,…

Q: A company has 360,000 shares authorized, 200,000 shares issued, and 100,000 shares outstanding. The…

A: Introduction: Authorized shares: Every company is allowed to issue certain number of shares. Simply…

Q: The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30…

A: Stockholders’ Equity Section: It is refers to the section of the balance sheet that shows the…

Q: Netpass Company has 300,000 shares of common stock authorized, 270,000 shares issued, and100,000…

A: Outstanding shares = Issued shares - Treasury shares                                  = 270,000…

Q: Blossom Corporation earned $352,000 during a period when it had an average of 100,000 shares of…

A: Incremental shares = [(Market price - option price)/market price] x no. of warrant = [(15-10)/15] x…

Q: Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear…

A: a.journalize the entries to record the declaration and issuance of stock dividends.

Q: Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear…

A: Dividends declared are capitalised from retained earnings of the company.

Q: On December 31, Westworld Inc. has the following equity accounts and balances: Retained Earnings,…

A: Stockholders' equity: Stockholders' equity means the remaining net assets available to shareholders.…

Q: Fischer Company has outstanding 8,000 shares of $100 par value, 5% preferred stock, and 50,000…

A: Dividends: This is the amount of cash distributed to stockholders by a company out its earnings,…

Q: Occidental Produce Company has 40,000 shares of common stock outstanding and 2,000 shares of…

A: Company means a form of business where the share holder invest money in business in form of shares…

Q: On February 10, Peerless Rocks Inc., a marble contractor, issued for cash 40,000 shares of $10 par…

A: Any excess cash paid for the shares goes to Paid-in Capital in excess of par Account.  Total Paid-in…

Q: Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear…

A: Journal is the book of original entry in which all the transactions of the business are recorded…

Q: Smart Poly Machine issues 5,000 shares of 5%, $10 Par Value Preferred Stock for $10,000 cash,…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Evon, a limited liability company, issued 1,000,000 ordinary shares of 25 cents each at a price of…

A: We have the following information: Issued 1,000,000 ordinary shares of 25 cents each Issue $1.10…

Q: A company has an authorized capital of 10,000 common shares of $10 par value and 7,500 common shares…

A: Journal entry: An act of recording the daily transaction of a firm in the journal is called journal…

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A: Common stock is issued for raising capital for the company. Other than common stock, the company…

Q: A corporation reacquires 60,000 shares of its own $10 par common stock for $3,000,000, recording it…

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Q: Tamara Corporation has 5,000 shares of $10 par value common stock outstanding and retained earnings…

A: Event Account Titles and Explanation Debit Credit a Retained earnings  $    10,000     To…

Q: Advanced Life Co. is an HMO for businesses in the Albuquerque area. The following account balances…

A: Journal entry is a process of recording and classifying business transactions into books of accounts…

Q: Astro Corporation was started with the issue of 4,500 shares of $10 par stock for cash on January 1,…

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Q: Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear…

A: Since, we only answer upto three sub-parts,we shall answer first three. Please resubmit the question…

Q: Almond, Inc held its quarterly dividend meeting on December 8.  At that time, the directors declared…

A: Dividend payable = No. of shares * Dividend per share

Q: Nexis Corp. issues 1,900 shares of $12 par value common stock at $17 per share. When the transaction…

A: Journal entries are passed following the golden rules of accounting  Debit all assets and expenses…

Q: Liberward, Inc., sold and issued 1,000 shares for $15 per share. The book value of the shares was…

A: Shares are a mean of raising capital from the shareholders. Shares can be ordinary shares or…

Q: . Journalize the entry to record the declaration of the dividend, capitalizing an amount equal to…

A:

Q: Alpha Co. sold 10,000 shares of common stock, which has a par value of $10, for $13 per share.The…

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Q: The net income of Charles Company for the year ended December 31, 2002 was $100,000. The following…

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Q: Summit Apparel has the following accounts at December 31: Common Stock, $1 par value, 1,400,000…

A: SHAREHOLDER' EQUITY IS AN ACCOUNT ON COMPANY'S BALANCE SHEET THAT CONSIST OF TOTAL SHARE CAPITAL…

Q: Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear…

A: Common Shares- It refers to the shares which are issued by company for raising capital finances and…

Q: Summit Apparel has the following accounts at December 31: Common Stock, $1 par value, 2,000,000…

A: Stockholders’ equity: It refers to the remaining amount of assets that are available to the…

Q: Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear…

A: Stock dividend means when company issues shares instead of paying cash for dividends. These needs to…

Q: On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par…

A: a.

Q: ViewPoints Security's financial statements, which were constructed a few days ago, report the…

A: Financial ratios are the measures that are used to evaluate the financial performance and position…

Q: At the end of the accounting period, Houston Company had $8,000 of par value common stock issued,…

A: Stockholders equity include common stock, retained earning but does not include treasury stock.

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A: When shares are sold by a corporation in excess of par, cash is received and an increase in cash is…

Q: The authorized share capital of the Alfred Cake Company is 120,000 shares. The equity is currently…

A: a. The book shows a balance of common stock of $69,000. The number of shares issued is calculated…

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.