edited PB11-3 (Algo) Finding Missing Amounts [LO 11-2, LO 11-3, LO 11-5) At December 31, the records of Seacrest Enterprises provided the following selected and incomplete data: Common stock (par $1; no changes during the current year). Shares authorized, 10,000,000. Shares issued, 2 issue price $12 per share. Shares held as treasury stock, 49,000 shares, cost $13 per share. Net Income for the current year, $1,312,900 Common Stock account, $740,000. Dividends declared and paid during the current year. $1 per share. Retained Earnings balance, beginning of year, $36,300,000. Required: Complete the following: (Round per share to 2 decimal places.) 1-a Shares issued 1-b Shares outstanding 2. The balance in Additional Paid-in Capital would be 3 Eamings per share is 4 Total dividends paid on common stock during the current year is 5 Treasury stock should be reported in the stockholders equity section of the balance sheet in the amount of
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- D Trepare entries for issuance of no-par value common stock. BE11.3 (LO 2), AP On June 1, Noonan Inc. issues 4,000 shares of no-par common stock at a cash price of $6 per share. Journalize the issuance of the shares assuming the stock has a stated value of $1 per share. Prepare entries for issuance of stock in a noncash transaction.Could you please complete the blanks? According to the information above G (* PA11-3 (Static) Finding Missing Amounts [LO 11-2, LO 11-3, LO 11-5] At December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during the current year). Shares authorized, 5,000,000. Shares issued, 2; issue price $8 per share. Shares held as treasury stock, 10,000 shares, cost $6 per share. Net income for the current year, $481,000. Common Stock account, $150,000. Dividends declared and paid during the current year, $2 per share. Retained Earnings balance, beginning of year, $800,000. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders equity section of the…GL1101 (Algo) - Based on Problem 11-2A LO C3, P2, P3 Delray Company reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,000 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 2,500 of its treasury shares at $27 cash per share. August 22 Sold 2,500 of its treasury shares at $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 Closed the…
- GL1101 (Algo) - Based on Problem 11-2A LO C3, P2, P3 Delray Company reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,000 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 2,500 of its treasury shares at $27 cash per share. August 22 Sold 2,500 of its treasury shares at $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 Closed the…Required information Problem 13-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3 [The following information applies to the questions displayed below.] The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 March 20 April 5 July 5 July 31 August 14 October 5 Declared a $0.50 per share cash dividend,…CP11-3 Finding Missing Amounts (LO 11-2, LO 11-3, LO 11-5] At December 31, the records of Nortech Corporation provided the following selected and incomplete data: Common stock (par $1; no changes during the current year). Shares authorized, 500, 000. Shares issued, 2; issue price $23 per share. Common Stock account, $210, 000. Shares held as treasury stock, 3,100 shares, cost $21 per share. Net income for the current year, $165, 520. Dividends declared and paid during the current year, $53, 794. Retained Earnings balance, beginning of the year, $156, 000. Required: Complete the following: TIP: To determine the number of shares issued, divide the balance in the Common Stock account by the par value per share. (Round "per share" answers to 2 decimal places.) Shares Authorized a. 1- Shares Issued b. 1- Shares Outstanding 2. The Balance in Additional Paid-in Capital would be 3. Earnings per Share is 4. Dividends Paid per Share of Common Stock is Treasury Stock should be Reported in the…
- Required information Problem 11-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3 [The following information applies to the questions displayed below.] The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$5 par value, 100,000 shares authorized, 30,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 35,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 March 20 April 5 July 5 July 31 August 14 Declared a $0.50 per share cash dividend, date of…M11-4 (Static) Analyzing and Recording the Issuance of Common Stock [LO 11-2] To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. Required: 1-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance. 1-b. Prepare the journal entry for the stock issuance. 2-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance with a par value of $2. 2-b. Prepare the journal entry for the stock issuance, if the par value were $2 per share. Journal Entry: 1. Record the issuance of 1,000 shares with a $1 par value for a price of $50 per share. 2. Record the issuance of 1,000 shares with a $2 par value for a price of $50 per share.CP11-2 (Static) Finding Financial Information LO11-1, LO11-3, LO11-4, LO11-7 Refer to the financial statements and footnotes of Express given in Appendix C. Required: 1. At the end of the most recent fiscal year, how many shares of common stock are authorized? How many shares are issued? How many shares are outstanding? (Enter your answer in thousands not in whole dollars.) 2. Did the company pay dividends during the most recent fiscal year? If so, how much per share? (Round your answer to 2 decimal places.) 3. Does the company report treasury stock at the end of the most recent fiscal year? If so, what dollar amount does it report? (Enter your answer in thousands not in whole dollars.) 4. Did the company repurchase any shares of its common stock for tax withholding obligations during the most recent fiscal year? (Enter your answer in thousands not in whole dollars.) 5. What is the par value of Express’s common stock? (Round your answer to 2 decimal places.) 1 Authorized common…
- Required Information Problem 13-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3 [The following information applies to the questions displayed below.] The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$5 par value, 100,000 shares authorized, 30,000 shares issued and outstanding $ 150,000 110,000 320,000 $ 580,000 Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 35,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($60,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $0.50 per share cash dividend, date of record…At December 31, the records of Seacrest Enterprises provided the following selected and incomplete data: Common stock (par $1; no changes during the current year). Shares authorized, 10,000,000. Shares issued, ?; issue price $11 per share. Shares held as treasury stock, 57,000 shares, cost $12 per share. Net income for the current year, $2,060,100 Common Stock account, $820,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $37,100,000. Required: Complete the following: (Round per share to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount ofAt December 31, the records of Kozmetsky Corporation provided the following selected and incomplete Common stock (par $2; no changes during the current year). Shares authorized, 5,000,000. Shares issued, ?; issue price $8 per share. Shares held as treasury stock, 10,300 shares, cost $6 per share. Net income for the current year, $509,740. Common Stock account, $153,000. Dividends declared and paid during the current year, $2 per share. Retained Earnings balance, beginning of year, $830,000. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share will…