Chapter 11 homework problemsQuestion 12 of 13View PoliciesCurrent Attempt in ProgressThe following accounts appear in the ledger of Concord Corporation after the books are closed at December 31, 2022:Common Stock, no par, $1 stated value, 411,000 shares authorized; 305,000 shares issued $ 305,00029,000Common Stock Dividends DistributablePaid-in Capital in Excess of Stated Value-Common StockPreferred Stock, $5 par value, 8%, 45,000 shares authorized; 29,800 shares issuedRetained EarningsTreasury Stock (13,000 common shares)Paid-in Capital in Excess of Par-Preferred StockV:eTextbook and MediaeTextbookPrepare the stockholders' equity section at December 31, 2022, assuming retained earnings is restricted for plant expansion in theamount of $115,000. For capital stock first enter the preferred stock details. (Enter account name only and do not provide descriptiveinformation.)List of Accounts>Concord CorporationBalance Sheet (Partial)December 31, 2022Save for Later Last saved 12 minutes ago.Saved work will be auto-submitted on the due date. Auto-submission can take up to 10 minutes.1,100,000$149,000801,000102,700348,000- / 1$$IIIAssistance UsedAttempts: 0 of 5 used:Submit Answer

Stockholder's Equity is the difference between a company’s assets and liabilities, and represents…

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FINANCIAL ACCOUNTING

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Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Question 8 of 20 -/1 View Policies Current Attempt in Progress On December 31, 2020, Swifty, Inc. has 3700 shares of 5% $100 par value cumulative preferred stock and 60400 shares of $10 par value common stock outstanding. On December 31, 2020, the directors declare a $16500 cash dividend. The entry to record the declaration of the dividend would include: O a credit of $16500 to Dividends Payable. O a note in the financial statements that dividends of $5 per share are in arrears on preferred stock for 2020. O a credit of $16500 to Cash Dividends. O a debit of $16500 to Common Stock. eTextbook and Media Save for Later Attempts: 0 of 2 used Submit Answer % & 3 5 6 7 8 e h C m II!
1-Spring 2021 Question 16 of 17 -/1 View Policies Current Attempt in Progress The original sale of the $50 par value common shares of Tamarisk Company was recorded as follows: Cash 291,200 Common Stock 260,000 Paid-in Capital in Excess of Par 31,200 Transactions: (a) Bought 420 shares of common stock as treasury shares at $61. (b) Sold 130 shares of treasury stock at $59. (c) Sold 70 treasury shares at $69. Record the treasury stock transactions (given above) under the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit (a) MacBook Air III
Chapter 10: Stockholders' Equity and Appendix D Use the Stockholders' Equity section of FSB's Balance Sheet to answer the questions below. FSB Enterprises Balance Sheet (partial) At December 31, 202A Stockholders' Equity: Preferred stock (Par $100) Common stock (Par $0.20) Additional Paid in capital 1,000,000 120,000 8,915,000 Total paid in capital Retained earnings Treasury stock (3,00 common shares) Total stockholders equity 10,035,000 1,400,000 -54,000 11,381,000 1 How many shares of preferred stock have been issued? 2a How many shares of common stock have been issued? 2b How many of the common shares are outstanding? 3 If the common shares were issued at $15 per share, at what average price were preferred shares issued? Carry to two decimals. 4 If retained earnings at the beginning of the period was $1,250,000 and $325,000 was earned in net income, what was the amount of dividends declared during the year? What was the average cost per share of the treasury stock acquired? Carry 5…
Shawn Sm Slide Show Record Help Cash and Stock Dividends Example #2 Common Stock-$20 par, 500 shares authorized, 250 shares issued and outstanding Paid-in capital in excess of par, Common Stock Retained eamings Total 0o 0 0 Assume all of the transactions are for the same year. Feb. 15 The board declared a $0.50 cash dividend per share to shareholders of record on Mar. 31. Apr. 15 Paid the cash dividend declared on February 15. May 31Declared a 20% stock dividend. The market value of the stock is $25 per share. 1 Distributed the stock dividend declared on May 31. July Dec 1 Declared a 30% stock dividend. The market value of the stock is $22 per share. Dec. 31Distributed the stock dividend declared on December 1. General Joumal Debit Credit Feb. 15 Mar. 31 Apr. 15 July 1 5. Notes 88 ON3 IN INI
Problem #30 Preparation of the Shareholders' Equity Section of a Statement of Financial Position Preparation of the Shareholders' Equity Section of a Statement of Financial Position Corporation on June 30, 2019. Each account has a normal balance. The accounts listed below were taken from the general ledger of the Liggayu corporation on June 30, 2019. Each account has a normal balance. Ordinary Shares P1,300,000 Share Premium- P 325,000 Preference Subscribed Ordinary Shares Ordinary Shares Dividend 100,000 Share Premium-Treasury 17,500 62,500 Donated Capital Distributable 70,000 Treasury Stock-Ordinary (3,000 shares) Share Premium-Ordinary Retained Earnings: 117,500 2,075,000 Unappropriated Appropriated for Plant Expansion 1,870,000 7% Preference Shares 250,000 125,000 7% Preference Shares- Subscribed 25,000 Additional Information: a. Preference share has a par value of P50 per share. Liggayu was authorized to issue 10,000 shares. The preference share is cumulative and participating. b.…
ACCT2110 Financial Accounting Chapter 11 Stockholders' Equity Homework Problem 1. The stockholders' equity section of MaiStyle Corporation's balance sheet at December 31 is presented here. MAISTYLE CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding $900,000 Common stock, no par; 750,000 shares authorized, 600,000 shares issued 1,800,000 Total paid-in capital 2,700,000 Retained earnings 1,158,000 Total paid-in capital and retained earnings 3,858,000 Less: Treasury stock (8,000 common shares) (32,000) Total stockholders' equity $3,826,000 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,…
Question 14 Hamad Town Company had the following balances in the stockholders' equity accounts at Dec. 31, 2020: - Common stock, $10 par, 50,000 shares authorized, 30,000 shares issued and outstanding ....$ 300,000 Paid in Capital in Excess of Par Value, Common Stock Retained Eamings The following transactions occurred during 2021: 1. Feb. 20: Purchased 2,000 of its own shares for $ 18 per share. 2. March 10: Declared a $2 per share cash dividend on the outstanding common stock. 3. April 07: Paid the cash dividends declared early in March 10. 4. May 20: Sold all treasury shares for $19 each. 5. Oct. 1: Declared 10% stock dividends on the outstanding common stock for the record of Nov. 1 and to be distributed on Dec. 10; The market value of stock on Oct. 1 was $14 per share. 6. Dec. 10: Distributed the shares which declared on Oct. 1. 7. Dec. 25: Implemented a 2-for-1 stock split, when the market value of stock was $26 per share. NOTE: If there is no entry, please write: "NO ENTRY"…
Chapter 12 Homework еBook Print Item Instructions Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows: Jan. 8 Split the common stock 2 for 1 and reduced the par from $100 to $50 per share. After the split, there were 300,000 common shares outstanding. Apг. 30 Declared semiannual dividends of $0.60 per share on 16,000 shares of preferred stock and $0.22 per share on the common stock payable on July 1. Jul. 1 Paid the cash dividends. Oct. 31 Declared semiannual dividends of $0.60 per share on the preferred stock and $0.11 per share on the common stock (before the stock dividend). In addition, a 5% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $56. Dec. 31 Paid the cash dividends and issued the certificates for the common stock dividend. Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of…
Question 19 of 20 -/1 View Policies Current Attempt in Progress Taylor Corporation issues 20,000 shares of $50 par value preferred stock for cash at $90 per share. In the stockholders' equity section, the effects of the transaction above will be reported O entirely within the capital stock section. O entirely within the additional paid-in capital section. O under both the capital stock and additional paid-in capital sections, O entirely under the retained earnings section. eTextbook and Media Save for Later Attempts: 0 of 2 used Submit Answer 回可可 & 6. 7 8 y h b n m
Problem 11-2A (Algo) Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity at December 31, 2019. Common stock-$15 par value, 100,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During 2020, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,500 shares of its own stock at $20 cash per share. January 5 Directors declared a $6 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 1,688 of its treasury shares at $24 cash per share. August 22 Sold 2,812 of its treasury shares at $17 cash per share. September 5 Directors declared a $6 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the…
Problem 2. The following transaction occurred during year 2022 for Z Corporation: 80,000 60,000 10,000 5,000 Jan 2 Shares authorized to issue Feb 1 Shares issued Mar 1 Shares subscribed Shares reacquired but was not canceled Two for one stock split 15% stock dividend Jun 1 Nov 1 Dec 1 Required: Determine the following with supporting computations: 1. number of shares issued 2. number of shares outstanding 3. number of shares in treasury 4. number of shares un-issued 5. number of shares subscribed 6. number of shares available for subscription at the end of year 2022.
PROBLEM 2 The following items were shown on the balance sheet of Easton Corporation on December 31, 2018: Stockholders' equity Paid-in capital Capital stock Common stock, $10 par value, 400,000 shares authorized; shares issued and outstanding. $1,850,000 Additional paid-in capital In excess of par. 165,000 2,015,000 Total paid-in capital... Retained earnings.. 750.000 Total paid-in capital and retained earnings. 2,765,000 Less: Treasury stock (18,000 shares).. 270,000 $2,495,000 Total stockholders' equity... Instructions Complete the following statements and show your computations. a) The number of shares of common stock issued was b) The number of shares of common stock outstanding was c) The common stock was issued for a total of $ d) The cost per share of the treasury stock was $ e) The average issue price of the common stock was $ f) Assuming that 25% of the treasury stock is sold at $20 per share, the balance in the Treasury Stock account would be S

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