Reporting Stockholders' EquityUsing the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. 80,000 shares of common stock authorized, and 10,000 shares haves haveCommon Stock, $70 parPaid-In Capital from Sale of Treasury StockPaid-In Capital in Excess of Par-Common StockRetained EarningsTreasury StockStockholders' EquityPald-in capital:Paid-in capital, common stockFrom Sale of Treasury SteckCommon Steck, 70 Par (00,000 Shares Authorized 56.000 Shares Issued)Excess of Issue Price Over ParTotal paid-in capitalBetained Camings$3,920,00078,0001,512,0002,195,00044,000TotalTreasury SteckTotal stockholders' equityBalance Sheet1920.00070.000 X2.195.00044.000beenbeen reacquired.

Stockholders' equity is the section in the balance sheet which shows the holding of shareholders in…

Using the following accounts and balances, prepare the "Stockholders' Equity' section of the balance sheet. 80,000 shares of common stock authorized, and 10,000 shares have been reacquired. Common Stock, $70 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock Stockholders' Equity Paid-in capital: Paid in capital, common stock From Sale of Treasury Stock Total paid in capital $3,920,000 78,000 1,512,000 2,195,000 44,000 Common Stock 120 Par (00.000 Shares Authorized, 16.000 Shares Issued) Excess of Tun Price Over Par V Total Treangy Stock Total stockholders equity Balance Sheet 1920.000 à¤ÒÒ 78.000 X 2195.000 44.000

Using the following accounts and balances, prepare the "Stockholders' Equity' section of the balance sheet. 80,000 shares of common stock authorized, and 10,000 shares have been reacquired. Common Stock, $70 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock Stockholders' Equity Paid-in capital: Paid in capital, common stock From Sale of Treasury Stock Total paid in capital $3,920,000 78,000 1,512,000 2,195,000 44,000 Common Stock 120 Par (00.000 Shares Authorized, 16.000 Shares Issued) Excess of Tun Price Over Par V Total Treangy Stock Total stockholders equity Balance Sheet 1920.000 à¤ÒÒ 78.000 X 2195.000 44.000

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 17E: Reporting paid-in capital The following accounts and their balances were selected from the...

See similar textbooks

Similar questions

Prepare the stockholders equity section of the balance sheet based on the following account balances: Common stock, 2 par, 60,000 shares 120,000 Preferred stock, 10 par, 5%, 4,000 shares 40,000 Common stock subscribed, 2 par, 3,000 shares 6,000 Retained earnings 17,000 The answers to the Self-Study Test Questions are at the end of the chapter (pages 811812).
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.
Stockholders' Equity Terminology A list of terms and a list of definitions or examples are presented below. Make a list of the numbers 1 through 12 and match the letter of the most directly related definition or example with each number Definitions and Examples Capitalizes retained earnings. Shares issued minus treasury shares. Emerson Electric will pay a dividend to all persons holding shares of its common stock on December 15, 2019, even if they just bought the shares and sell them a few days later. The accumulated earnings over the entire life of the corporation that have not been paid out in dividends. Common Stock account balance divided by the number of shares issued. The state of Louisiana set an upper limit of 1,000,000 on the number of shares that Gumps Catch Inc. can issue. Shares that never earn dividends. Any changes to stockholders equity from transactions with no owners. A right to purchase stock at a specified future time and specified price. j. A stock issue that requires no journal entry. k. Shares that may earn guaranteed dividends. 1. On October 15, 2019, General Electric announced its intention to pay a dividend on common stock.
Raun Company had the following equity items as of December 31, 2019: Preferred stock, 9% cumulative, 100 par, convertible Paid-in capital in excess of par value on preferred stock Common stock, 1 stated value Paid-in capital in excess of stated value on common stock| Retained earnings The following additional information about Raun was available for the year ended December 31, 2019: 1. There were 2 million shares of preferred stock authorized, of which 1 million were outstanding. All 1 million shares outstanding were issued on January 2, 2016, for 120 a share. The preferred stock is convertible into common stock on a 1-for-1 basis until December 31, 2025; thereafter, the preferred stock ceases to be convertible and is callable at par value by the company. No preferred stock has been converted into common stock, and there were no dividends in arrears at December 31, 2019. 2. The common stock has been issued at amounts above stated value per share since incorporation in 2002. Of the 5 million shares authorized, 3,580,000 were outstanding at January 1, 2019. The market price of the outstanding common stock has increased slowly but consistently for the last 5 years. 3. Raun has an employee share option plan where certain key employees and officers may purchase shares of common stock at 100% of the marker price at the date of the option grant. All options are exercisable in installments of one-third each year, commencing 1 year after the date of the grant, and expire if not exercised within 4 years of the grant date. On January 1, 2019, options for 70,000 shares were outstanding at prices ranging from 47 to 83 a share. Options for 20,000 shares were exercised at 47 to 79 a share during 2019. During 2019, no options expired and additional options for 15,000 shares were granted at 86 a share. The 65,000 options outstanding at December 31, 2019, were exercisable at 54 to 86 a share; of these, 30,000 were exercisable at that date at prices ranging from 54 to 79 a share. 4. Raun also has an employee share purchase plan whereby the company pays one-half and the employee pays one-half of the market price of the stock at the date of the subscription. During 2019, employees subscribed to 60,000 shares at an average price of 87 a share. All 60,000 shares were paid for and issued late in September 2019. 5. On December 31, 2019, there was a total of 355,000 shares of common stock set aside for the granting of future share options and for future purchases under the employee share purchase plan. The only changes in the shareholders equity for 2019 were those described previously, the 2019 net income, and the cash dividends paid. Required: Prepare the shareholders equity section of Rauns balance sheet at December 31, 2019. Substitute, where appropriate, Xs for unknown dollar amounts. Use good form and provide full disclosure. Write appropriate notes as they should appear in the publisher financial statements.
Contributed Capital Adams Companys records provide the following information on December 31, 2019: Additional information: 1. Common stock has a 5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a 100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at 120 per share. The stock pays an 8% dividend, is cumulative, and is callable at 130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Include appropriate parenthetical notes.
A company reports the following: Determine (a) the return on stockholders equity and (b) the return on common stockholders equity. Round percentages to one decimal place.
Treasury stock is listed as a(n) __________ on the balance sheet. (a) current liability (b) current asset (c) deduction from stockholders equity (d) addition to stockholders equity
Reporting paid-in capital The following accounts and their balances were selected from the unadjusted trial balance of Point Loma Group Inc., a freight forwarder, at October 31, the end of the current fiscal year: Prepare the Paid-In Capital portion of the stockholders equity section of the balance sheet using Method 1 of Exhibit 8. There are 375,000 shares of common stock authorized and85,000 shares of preferred stock authorized.
Reporting Stockholders' Equity Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. 70,000 shares of common stock authorized, and 2,000 shares have been reacquired. Common Stock, $30 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock Stockholders' Equity Paid-in capital: Balance Sheet Paid-in capital, common stock Total paid-in capital Total Total stockholders' equity $1,260,000 76,000 336,000 743,000 37,000
Reporting Stockholders Equity Using the following accounts and balances, prepare the Stockhalders' Equity section of the balance sheet using Method 1 of Exhibit 8. 50,000 shares of common stock authorized, and 2,000 shares have been reacquired. Comman Stock, $sa0 par $3,200,000 Paid-In Capital from Sale of Treasury Stock Paid-in Capital in Excess of Par-Common Stock 64,000 440,000 Retained Earnings 1,728,000 Treasury Stock 42,000 Stockholders' Equity Paid-In Capital: Common Stock, S80 Par 3200,000 Excess over par 440,000 Treasury Stock From Sale of Treasury Stock 64.000 Total Paid-in Capital 3,704.000 Retained Eamings Total Treasury Stock Total Stockholders' Equity
Reporting stockholders' equity Using the following accounts and balances, prepare the “Stockholders’ Equity” section of the balance sheet. Regarding the common stock, 500,000 shares are authorized, and 40,000 shares have been reacquired. Line Item Description Amount Common Stock, $120 par $48,000,000 Paid-In Capital from Sale of Treasury Stock 4,500,000 Paid-In Capital in Excess of Par—Common Stock 6,400,000 Retained Earnings 63,680,000 Treasury Stock 5,200,000
Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity se Common Stock, $70 par $5,600,000 Paid-In Capital from Sale of Treasury Stock 112,000 Paid-In Capital in Excess of Par-Common Stock 2,160,000 Retained Earnings 2,800,000 Treasury Stock 67,000 Stockholders' Equity Paid-in capital: Total Paid-In Capital Total Stockholders' Equity