Chapter 11, Problem 11.4IE

Included in the December 31, 2018, Jacobi Company balance sheet was the following shareholders equity section: The company engaged in the following stock transactions during 2019: Required: 1. Prepare journal entries to record the preceding transactions. 2. Prepare the December 31, 2019, shareholders equity section (assume that 2019 net income was 270,000).

The income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows: Includes both state and federal taxes. Brief Exercise 15-20 Calculating the Average Common Stockholders Equity and the Return on Stockholders Equity Refer to the information for Somerville Company on the previous pages. Required: Note: Round answers to four decimal places. 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.

Amy Dyken, controller at Fitzgerald Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Fitzgerald's financial statements. Below is selected financial information for the fiscal year ended June 30, 2020. Fitzgerald Pharmaceutical IndustriesSelected Balance Sheet InformationJune 30, 2020 Long-term debt   00Notes payable, 10% $ 1,000,000 008% convertible bonds payable 5,000,000 0010% bonds payable   6,000,000 0000Total long-term debt $12,000,000 Shareholders' equity   00Preferred stock, 6% cumulative, $50 par value,   100,000 shares authorized, 25,000 shares issued   and outstanding $ 1,250,000 00Common stock, $1 par, 10,000,000 shares authorized,   1,000,000 shares issued and outstanding 1,000,000 00Additional paid-in capital 4,000,000 00Retained earnings   6,000,000 0000Total shareholders' equity $12,250,000     The following…

Lizbeth Johnson, controller of Detroit Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Detroit’s financial statements. Below is selected financial information for the fiscal year ended March 31, 2021. Long-term debt  Notes payable to banks, 12% .................................................... $ 4,000,000  4% convertible bonds payable ..................................................... 8,000,000  12% bonds payable...................................................................... 3,000,000  Total long-term debt..................................................................................      $15,000,000 Shareholders’ equity  Preferred stock, 5% cumulative, $100 par value,  100,000 shares authorized, 50,000 shares issued  and outstanding ....................................................................... $ 5,000,000  Common stock, $1 par, 10,000,000 shares authorized,…

Amy Dyken, controller at Shamrock Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Shamrock’s financial statements. Below is selected financial information for the fiscal year ended June 30, 2020. Long-term debt        Notes payable, 10%   $990,000    9% convertible bonds payable   5,040,000    10% bonds payable   6,080,000      Total long-term debt   $12,110,000 Shareholders’ equity   Preferred stock, 5% cumulative, $50 par value, 104,000 shares authorized, 26,000 shares issued and outstanding $1,300,000    Common stock, $1 par, 10,000,000 shares authorized, 1,000,000 shares issued and outstanding 1,000,000    Additional paid-in capital 3,990,000    Retained earnings 6,090,000      Total shareholders’ equity $12,380,000 The following transactions have also occurred at Shamrock. 1.   Options were granted on July 1, 2019, to purchase 180,000 shares at $15…

How much is the retained earnings - December 31, 2021? For the computation in your worksheet - Prepare a Statement of Changes in Equity for the year ended December 31, 2021 for Shalimar Corporation with the following columns - Share Capital, Reserves, Retained Earnings, Treasury Shares, and Total.

Stowe Company’s December 31, 2017, trial balance includes the following accounts: Investment in Common Stock $70,000, Retained Earnings $114,000, Trademarks $31,000, Preferred Stock $152,000, Common Stock $55,000, Deferred Income Taxes $88,000, Paid-in Capital in Excess of Par—Common Stock $174,000, and Noncontrolling Interest $63,000. Prepare the stockholders’ equity section of the balance sheet.

Amy Dyken, controller at Novak Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Novak’s financial statements. Below is selected financial information for the fiscal year ended June 30, 2020. Novak Pharmaceutical IndustriesSelected Balance Sheet InformationJune 30, 2020 Long-term debt        Notes payable, 10%   $980,000    7% convertible bonds payable   5,060,000    10% bonds payable   5,910,000      Total long-term debt   $11,950,000       Shareholders’ equity        Preferred stock, 6% cumulative, $50 par value, 90,000 shares authorized, 22,500 shares issued and outstanding   $1,125,000    Common stock, $1 par, 10,100,000 shares authorized, 1,010,000 shares issued and outstanding   1,010,000    Additional paid-in capital   4,060,000    Retained earnings   6,120,000      Total shareholders’ equity   $12,315,000 The following…

Amy Dyken, controller at Whispering Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Whispering’s financial statements. Below is selected financial information for the fiscal year ended June 30, 2020. Whispering Pharmaceutical IndustriesSelected Balance Sheet InformationJune 30, 2020 Long-term debt        Notes payable, 11%   $990,000    7% convertible bonds payable   5,080,000    11% bonds payable   6,120,000      Total long-term debt   $12,190,000       Shareholders’ equity        Preferred stock, 6% cumulative, $50 par value, 95,000 shares authorized, 23,750 shares issued and outstanding   $1,187,500    Common stock, $1 par, 10,000,000 shares authorized, 1,000,000 shares issued and outstanding   1,000,000    Additional paid-in capital   3,920,000    Retained earnings   5,880,000      Total shareholders’ equity   $11,987,500…