1234567208 Additional paid-in capital-common9 Additional paid-in capital-preferred10 Accounts payable11 Accounts receivable12 Common stock, $2 par13 Preferred stock, $10 par2222521APrepare the Stockholders' Equity SectionWildcat Drilling has the following accounts on its trial balance.23DATA24Retained earningsCash14 Inventory15 Treasury stock-common (40,000 shares)16 Accumulated other comprehensive income1718 REQUIRED:19 Prepare the stockholders' equity portion of Wildcat's balance sheet.B2526 Stockholders' equity:272829 Additional paid-in capital:303132 Total additional paid-in capital33 Total capital stock34353637 Total stockholders' equity3839404142<Data +DebitWorkbook Statistics125,000150,000Wildcat DrillingBalance Sheet (Partial)December 31500,000250,000CCredit1,500,00010,000,0002,000,00075,000Type in the item descriptions and use formulas and cell references from the problem data to enter amounts.Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWV2 for grading.800,000600,00051,500DFormulasEGive Feedb

Stockholder's Equity includes the amount contributed by shareholders in the form of common stock,…

Answered: Prepare the Stockholders' Equity…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Diva, Inc. recorded the following capital stock transactions: Balance Sheet Assets = Liabilities + Stockholders' Equity Common PIC in Excess of Treasury PIC from Stock + Common Stock + Stock + Treasury Stock |(1) 1,092,500 115,000 977,500 |(2) (61,600) (61,600) (3) 49,920 42,240 7,680 Use the following additional information about the above transactions when answering questions a through e. (1) issued common stock for $19 cash per share (2) purchased treasury shares at $22 per share. (3) sold some of the treasury shares: a. How many shares were originally issued? b. What was the par value of the shares issued? $ c. How many shares of treasury stock were acquired? d. How many shares of treasury stock were sold? e. At what price per share was the treasury stock sold? $
The stockholders equity of larkspur, inc.'s balance sheet at december 31 is presented here stockholders equity paid in capital preferred stock, cumulative, 22000 shares authorized, 13200 shares issued at outstanding $1056000 common stock, no pare ,900000 shares authorized, 510000 share issued 2,550000 total paid in capital 3606000 retained earnings 1858000 total paid in capital and retained earnings 5464000 less treasury stock (10000 common shares) 66000 total stockholders equity $5398000 from a review of the stockholders equity section, answer the following questions. (d) if the annual dividend on preferred stock is $73920 what is the dividend rate on preferred stock? (E) if the dividend of $147840 were in arrears on preferred stock what would be the balance reported for the retained earning?$
The stockholders equity of larkspur, inc.'s balance sheet at december 31 is presented here stockholders equity paid in capital preferred stock, cumulative, 22000 shares authorized, 13200 shares issued at outstanding $1056000 common stock, no pare ,900000 shares authorized, 510000 share issued 2,550000 total paid in capital 3606000 retained earnings 1858000 total paid in capital and retained earnings 5464000 less treasury stock (10000 common shares) 66000 total stockholders equity $5398000 from a review of the stockholders equity section, answer the following questions. (A) how many shares of common stock are outstanding? Shares (b) assuming there is state value, what is the state value of the common stock ? Per a share (c) what is the par value of the preferred stock? Per share % (d) if the annual dividend on preferred stock is $73920 what is the dividend rate on preferred stock? (E) if the dividend of $147840 were in arrears on preferred stock what would…
1. The following is a list of stockholders' equity accounts appearing on the balance sheet forWhiteheartCorporation on December 31, 20X3.Common stock, $10 par value P300,000Paid-in capital in excess of par-common 200,000Retained earnings 225,000Preferred stock, P50 par value 150,000Paid-in capital in excess of par-preferred 30,000Determine the following:a) What is total paid-in capital?b) What is total stockholders' equity?
about y section. E11-4 The stockholders' equity section of Leyland Corporation's balance sheet at Decem- ber 31 is presented here. LEYLAND CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding Common stock, no par, 750,000 shares authorized, 580,000 shares issued $ 600,000 2,900,000 Total paid-in capital Retained earnings 3,500,000 1,158,000 Total paid-in capital and retained earnings Less: Treasury stock (6,000 common'shares) 4,658,000 32,000 Total stockholders' equity $4,626,000 Instructions From a review of the stockholders' equity section, answer the following questions.. (a) How many shares of common stock are outstanding? (b) Assuming there is a stated value, what is the stated value of the common stock? (c) What is the par value of the preferred stock? (d) If the annual dividend on preferred stock is $36,000, what is the dividend rate on pre- ferred stock?
Stock Issuance and Treasury Stock Diva, Inc. recorded the following capital stock transactions: Balance Sheet Assets = Liabilities + Stockholders' Equity PIC in Excess of + Common Stock + Common Treasury PIC from Stock Stock + Treasury Stock (1) 1,048,800 110,400 938,400 (2) (107,800) (107,800) (3) 87,360 73,920 13,440 Use the following additional information about the above transactions when answering questions a through e. (1) issued common stock for $38 cash per share (2) purchased treasury shares at $44 per share. (3) sold some of the treasury shares: a. How many shares were originally issued? 0 b. What was the par value of the shares issued? $ 0 C. How many shares of treasury stock were acquired? 0 d. How many shares of treasury stock were sold? o e. At what price per share was the treasury stock sold? $ 0
Required information [The following information applies to the questions displayed below.] The stockholders' equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet (partial). ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital $ 4,300 13,000 293,600 310,900 271,000 (180,000) Retained earnings Treasury stock, 12,000 common shares Total stockholders' equity $ 401,900 Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands. 4. If retained earnings at the beginning of the period was $233 million and $13 million was paid in dividends during the year, what was the net income for the year? (Enter your answer in million (i.e., 5,000,000 should be entered as 5).) Net income million
Required information E11-4 (Algo) Reporting Stockholders' Equity LO11-1, 11-2, 11-3 [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: Common stock $1,010,000 $ 770,000 $1,080,000 101,000 75,000 650,000 Retained earnings Net income Shares issued Shares outstanding Dividends declared and paid The common stock was sold at a price of $31 per share. E11-4 Part 3 3. How many shares are in treasury stock? of 10 Nexily> Prey
1. The following is a list of stockholders' equity accounts appearing on the balance sheet for WhiteheartCorporation on December 31, 20X3.Common stock, $10 par value P300,000Paid-in capital in excess of par-common 200,000Retained earnings 225,000Preferred stock, P50 par value 150,000Paid-in capital in excess of par-preferred 30,000Determine the following:a) How many shares of preferred stock have been issued?b) What was the average issuance price of the preferred stock per share?c) How many shares of common stock have been issued?d) What is total paid-in capital?e) What is total stockholders' equity?
Required information [The following information applies to the questions displayed below.] The stockholders' equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 11,000 common shares Total stockholders' equity $6,000,000 30,000,000 1,164,000,000 1,200,000,000 288,000,000 (352,000,000) $1,136,000,000 Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands. 5. What was the average cost per share of the treasury stock acquired? Average cost per share
Required information Problem 10-4A (Algo) Analyze the stockholders' equity section (LO10-7) [The following information applies to the questions displayed below.) The stockholders' equity section of Ironworks is presented here. TRONWORKS Balance Sheet (partial) ($ and shares in thousands) Stockholders equity: Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 10,000,000 common shares Total stockholders' equity Based on the stockholders' equity section of Ironworks, answer the following questions. Preferred shares issued price $4,800,000 18,000,000 483,600,000 506,400,000 276,000,000 (200,000,000) $582,400,000 Problem 10-4A (Algo) Part 3 3. If the common shares were issued at $18 per share, at what average price per share were the preferred shares issued? per share
! Required information Problem 10-2A (Algo) Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5) [The following information applies to the questions displayed below.] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024, 320 shares of preferred stock and 4,200 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 May 15 July 10 October 15 December 1 Issue 1,300 shares of common stock for $44 per share. Purchase 420 shares of treasury stock for $37 per share. Resell 220 shares of treasury stock purchased on May 15 for $42 per share. Issue 220 shares of preferred stock for $47 per share. Declare a cash dividend on both common and preferred stock of $0.70 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends…

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