Swifty Corporation's balance sheet reported the following: Capital stock outstanding, 4,500 shares, par $30 per share $135,000Paid-in capital in excess of par 79,700Retained earnings 108,500 The following transactions occurred this year: (a) Purchased 190 shares of capital stock to be held as treasury stock, paying $54 per share.(b) Sold 150 of the shares of treasury stock at $59 per share.(c) Sold the remaining shares of treasury stock at $44 per share. Prepare the journal entry for these transactions under the cost method of accounting for treasury stock

Q: On July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000…

A: Solution:     Case 1 Case 2   Before stock transactions After 100% stock dividend After Stock…

Q: On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common…

A: Working Notes: 1. Treasury stock A/c  = shares purchase * per share rate  = (5000 shares *$25) =…

Q: On October 10, the stockholders’ equity of Sherman Systems appears as follows.        Common…

A: The purchase of treasury stock involves a debit to the Treasury Stock account and a credit to the…

Q: On October 10, the stockholders’ equity section of Sherman Systems appears as follows. Common…

A: Stockholders’ equity: The claims of owners on a company’s resources, after the liabilities are paid…

Q: The board of directors of KALEIDOSCOPE Corporation has declared cash dividends of P30,000 to its…

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…

Q: On January 1, 2010, the stockholders’ equity section of Nunez Corporation shows: Common stock ($5…

A: Journal: Recording of a business transactions in a chronological order.

Q: Prepare journal entries to record the following transactions: a.      Sold 14,000 shares of the…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: When Crossett Corporation was organized in January Year 1, it immediately issued 4,700 shares of $48…

A: Dividend Arrearage = Preference Share amount per share * No. of share preference shares issued *…

Q: Halverstein Company's outstanding stock consists of 14,000 shares of cumulative 5% preferred stock…

A: Cumulative preference shareholders are those shareholders on which dividend will be paid in next…

Q: Sheffield Corp.'s balance sheet reported the following: Capital stock outstanding, 4,000 shares,…

A: Treasury stock is the amount or value of stock that is being reacquired or repurchased from the…

Q: XYZ company's outstanding stock consists 10,000 shares of common stock with a $10 par value and…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: The accounts below appear in the current year-end trial balance of Trogss Company: Accounts payable…

A: Net income = sales - total expenses = 16000000 - 12480000 = 3520000 Ending retained earnings balance…

Q: ABC Corporation had the following Balance Sheet:             Paid-in-Capital: Common Stock (($4-par,…

A: a) The journal entry is shown below,

Q: The following information pertains to Ming Corp. at January 1, Year 2: Common stock, $8 par, 48,000…

A: Stockholders equity account is a summary account that indicates the current stockholder's…

Q: DEF Co. earned income of $750,000 for the fiscal year ended Dec 31. At the beginning of that year…

A: Earning Per Share (EPS) represents the net income that each common shareholder is earning from the…

Q: When Crossett Corporation was organized in January, Year 1, it immediately issued 4,100 shares of…

A: Common stock means the outstanding share of the company in which the investor invested their money…

Q: Bramble Corp.'s balance sheet reported the following: Capital stock outstanding, 5,000 shares, par…

A: The treasury stock is the purchase of its own share by the company.

Q: Nylah Corporation's balance sheet reported the following: Capital stock outstanding, 5,000 shares,…

A: Treasury stock: These are the own shares purchased by the issuing company from the open market.…

Q: . The following accounts are shown on the statement of financial position of Phoenix Corporation…

A: Note: As posted multiple independent questions we are answering only first question kindly repost…

Q: Kohler Corporation reports the following components of stockholders’ equity at December 31 of the…

A: Solution 1:       Kohler Corporation - Journal Entries Date Particulars Debit  Credit 2-Jan…

Q: Green Planet Corp. has (a) 5,000 shares of noncumulative 10% preferred stock with a $2 par value and…

A: Solution: i) Preference Shares are one of the financial instrument, preferred shares are commonly…

Q: Upperchurch Company reports the following components of stockholders' equity on January 1. Common…

A: Date Transaction Impact on Equity  Amount  Jan'1 Total Stockholders' Equity - January'1    $…

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: Kohler Corporation reports the following components of stockholders’ equity at December 31 of the…

A: The stockholder equity section of the balance sheet represents the amount invested by the owners.…

Q: The year-end balance sheet of Manor, Inc., includes the following stockholders' equity section (with…

A: Equity shareholders are considered owners of the company. Whereas the preference shareholders are…

Q: he following accounts are shown on the statement of financial position of Phoenix Corporation…

A: Treasury stocks are, generally, those stocks that are bought back from their own shareholders. It…

Q: The stockholders’ equity section of Sweet Inc. at the beginning of the current year appears below.…

A: Retained earnings refers to the those earnings or that part of company's profit which is kept aside…

Q: Waterway Corporation began business by issuing 415000 shares of $5 par value common stock for $26…

A: Lets understand the basics. When company issued a stock at premium then its par value goes to common…

Q: :(a) Purchased 400 shares of capital stock to be held as treasury stock, paying $60 per share.(b)…

A:

Q: Kohler Corporation reports the following components of stockholders' equity at December 31 of the…

A: Shareholders Equity refers to sum of Common shares Capital, Retained Earnings and Preferred stock.

Q: Crane Company's balance sheet reported the following: Capital stock outstanding, 4,000 shares, par…

A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

Q: The company issued 10,000 shares of $1 par common stock for cash of $40 per share. Which ONE of the…

A: Shares repurchased by the company are called treasury stock. Treasury stock is deducted from the…

Q: Simon Corporation is authorized to issue 4,000,000 shares of P4 par value ordinary shares. The…

A: Stockholders' equity= Equity share capital + retained earnings - treasury shares  Or  All assets -…

Q: On October 10, the stockholders’ equity of Sherman Systems appears as follows.            Common…

A: The question is based on the concept of Financial Accounting.

Q: Jackson Enterprises has the following capital (equity) accounts: The board of directors has declared…

A: when a stock dividend is declared, it will reduce the retained earnings balance by the amount of…

Q: The following are data pertaining to ABC Corporation: Ordinary share Capital, with par value of P50,…

A: The journal entries are prepared to keep the record of day to day transactions of the business. The…

Q: On October 10, the stockholders’ equity section of Sherman Systems appears as follows. Common…

A: Shareholder's Equity - This statement includes Common Stock, Paid in Capital in Excess of Par,…

Q: For the current year ended, ABC had the following transactions: ​ - Issued 10,000 shares of $2.00…

A: Treasury stock refers to antecedently outstanding stock that's bought back from stockholders by the…

Q: Raphael Corporation’s balance sheet shows the following stockholders’ equity section.…

A: Annual Dividend to Preferred shareholders = Total Par value preferred stock x rate of dividend =…

Q: The records of Alamo Corporation showed the loilowing data Ordinary share capital, par P50…

A: The dividend is paid to shareholders from the retained earnings of the business.

Q: ezos Co. reported the following capital structure at the beginning of the current year= ordinary…

A: EPS is calculated by taking into account the earnings available for equity shareholders.   WHERE,…

Q: CFAS Company showed the following information from its shareholders' equity at year-end before the…

A: Accounting Entry to be made:     General Journal Debit Credit Common Stock (5100 shares * P125)…

Q: When Crossett Corporation was organized in January Year 1, it immediately issued 4,700 shares of $48…

A: Formulas:

Q: The Channing Company earmed $64,000 last year. The capital stock of the company consists of $500.000…

A: Dividend: It can be defined as the distribution of the net profits of the company to its…

Q: Badger corporation issued 9,000 shares of its $5 per value common stock in payment for attorney…

A: Total par value of Common Stock = No. of Common Stock issued x par value per share = 9000 x $5 =…

Q: The stockholders' equity section of Martino Inc. at the beginning of the current year appears below.…

A: Stockholder’s equity represents the amount of resources which are available to stockholders or…

Q: Terrance Company reported $20,000 retained earnings at the beginning of the year. The company…

A: Treasury  shares are share repurchased  by company.These are to be measured at cost. Any difference…

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.