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The following data are from the accounts of Mitar Corporation at December 31, 2020 ($ thousands).   Retained earnings, beginning balance $2,520,000 Common stock, $__ par, 280,000 shares authorized, 140,000 shares issued 2,800,000 Treasury stock, 2,800 shares 56,000 Paid-in capital in excess of par 1,120,000 Bonds payable 560,000 Net income for 2020 (not included in retained earnings above) 532,000 Dividends declared and paid during 2020 (not included in retained earnings above) 224,000   Required  a. Determine the value of the following items.                4. Total stockholders’ equity Answer   5. Average original selling price per share Answer         b. Prepare the stockholders’ equity section of the balance sheet at December 31, 2020.     Stockholders' Equity Section December 31, 2020                                         Treasury stock       Answer   Total stockholders' equity       Answer

The following data are from the accounts of Mitar Corporation at December 31, 2020 ($ thousands).   Retained earnings, beginning balance $2,520,000 Common stock, $__ par, 280,000 shares authorized, 140,000 shares issued 2,800,000 Treasury stock, 2,800 shares 56,000 Paid-in capital in excess of par 1,120,000 Bonds payable 560,000 Net income for 2020 (not included in retained earnings above) 532,000 Dividends declared and paid during 2020 (not included in retained earnings above) 224,000   Required  a. Determine the value of the following items.                4. Total stockholders’ equity Answer   5. Average original selling price per share Answer         b. Prepare the stockholders’ equity section of the balance sheet at December 31, 2020.     Stockholders' Equity Section December 31, 2020                                         Treasury stock       Answer   Total stockholders' equity       Answer

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 69E: Stock Dividends Crystal Corporation has the following information regarding its common stock: S10...
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Reporting Stockholders’ Equity

The following data are from the accounts of Mitar Corporation at December 31, 2020 ($ thousands).

 

Retained earnings, beginning balance $2,520,000
Common stock, $__ par, 280,000 shares authorized, 140,000 shares issued 2,800,000
Treasury stock, 2,800 shares 56,000
Paid-in capital in excess of par 1,120,000
Bonds payable 560,000
Net income for 2020 (not included in retained earnings above) 532,000
Dividends declared and paid during 2020 (not included in retained earnings above) 224,000

 

Required 

a. Determine the value of the following items. 

 

   
   
   
4. Total stockholders’ equity Answer
 
5. Average original selling price per share Answer
 
   

 

b. Prepare the stockholders’ equity section of the balance sheet at December 31, 2020.

 

 

Stockholders' Equity Section
December 31, 2020
         
         
         
         
Treasury stock       Answer
 
Total stockholders' equity       Answer
 
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