Accounting Richard Tandy Company reported the following balances at December 31, 2019: common stock $545,000; paid-in capital in excess of par-common stock $205,000; retained earnings $340,000. During 2020, the following transactions affected stockholder's equity. 1. Issued preferred stock with a par value of $215,000 for $245,000. 2. Purchased treasury stock (common) for $68,000. 3. Earned net income of $245,000. 4. Declared and paid cash dividends of $79,000 ($17,930 preferred). * Your answer is incorrect. Compute Tandy's 2020 return on common stockholders' equity. (Round answer to 1 decimal place, e.g. 15.2%.) Return on common stockholders' equity 19.4 % (b)

Carlyon Company listed the following items in its December 31, 2018, financial statements: Investment in Man Company bonds $21,000 Dividends payable: preferred 4,000 Dividends payable: common 50,000 Preferred stock, 8%, $100 par 100,000 Common stock, $10 par 500,000 Additional paid-in capital on preferred stock 20,000 Additional paid-in capital on common stock 262,500 Retained earnings 270,000   During 2019, the following transactions occurred: Feb. 2 Paid the semiannual dividends declared on December 15, 2018. Mar. 5 Declared a property dividend, payable to common shareholders on April 5 in Man Company bonds being held to maturity. The bonds (which have a book value of $21,000) have a current market value of $32,000. Apr. 5 Paid the property dividend. July 6 Declared a $4 per share semiannual cash dividend on preferred stock and a $1.10 per share semiannual dividend on common stock, to be paid on August 17. Aug. 17 Paid the cash dividends. Oct. 15…

Swimtech Pools Incorporated (SPI) reported the following in its financial statements for the quarter ended March 31, 2021. Common Stock, $1 par, 60,000 shares issued and outstanding Additional Paid-In Capital December 31, 2020 $ 60,000 36,000 24,000 March 31, 2021 $ 60,000 36,000 24,000 Retained Earnings. Total Stockholders' Equity $ 120,000 $ 120,000 During the quarter ended March 31, SPI reported Net Income of $3,000 and declared and paid cash dividends totaling $3,000. Required: 1. Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended March 31. 2. Assume SPI repurchases 11,000 of its common stock at a price of $2 per share on April 1, 2021. Also assume that during the ended June 30, 2021, SPI reported Net Income of $3,000 and declared and paid cash dividends totaling $3,000. Calculate e per share (EPS) and return on equity (ROE) for the quarter ended June 30, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2…

Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018.    Common stock—$25 par value, 100,000 shares authorized,45,000 shares issued and outstanding $ 1,125,000   Paid-in capital in excess of par value, common stock   60,000   Retained earnings   400,000   Total stockholders' equity $ 1,585,000      During 2019, the following transactions affected its stockholders’ equity accounts.  Jan.   2   Purchased 4,500 shares of its own stock at $15 cash per share. Jan.   5   Directors declared a $6 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb.   28   Paid the dividend declared on January 5. July   6   Sold 1,688 of its treasury shares at $19 cash per share. Aug.   22   Sold 2,812 of its treasury shares at $12 cash per share. Sept.   5   Directors declared a $6 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct.   28   Paid the…

Instructions: a. Journalize the transactions and the closing entry for net income. b. Prepare stockholders’ equity section on December 31, 2021.

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Martinez Company's December 31, 2020, trial balance includes the following accounts: Investment in Common Stock $74,600, Retained Earnings $121,40O, Trademarks $39,900, Preferred Stock $158,500, Common Stock $63,400, Deferred Income Taxes $90,900, Paid-in Capital in Excess of Par-Common Stock $175,800, and Noncontrolling Interest $63,640. Prepare the stockholders' equity section of the balance sheet.

Preparing a Stockholders' Equity Section On December 31, 2020, Polar Inc. had the following account balances. Preferred stock, $10 par value $300,000 Paid in capital in excess of par-Preferred stock 24,000 Common stock, $1 par value 16,000 Paid in capital in excess of par-Common stock 80,000 Retained earnings 440,000 Accumulated other comprehensive loss (12,000) Prepare the stockholders' equity section of the balance sheet for Polar Inc. at December 31, 2020. Ignore disclosure on number of shares. Stockholders' Equity Section December 31, 2020 Preferred stock, par $10 Common stock, par $1 Paid-in capital in excess of par Retained earnings Accumulated other comprehensive loss Total stockholders' equity $

The books of Oriole corporation carried the following account balances as of December 31, 2020. Cash $210,000. preferred stck(cumulative, nonparticipating,$50 par) $310,000. common stock (non-par value, 284,000 shares issued) $1,420,000. Paid-in capital in excess of par -preferred stock $157,000. Treasury stock (common 2,900 shares at cost). Retained earnings $ 106,100. The company decided not to pay any dividend in 2020. The board of directors, at their annual meeting on December 21,2021, declared the following: The current year dividend shall be 6% on the preferred and $0.30% per share on the common. The dividend in arrears shall be paid by issuing 1,550 shares of treasury stock. At the date of deceleration, the preferred is selling at $80 per shares , and the common at $12 per shares . Net income for 2021 is estimated at $81,400. (a) prepare the journal entries required for the dividend declaration and payment assuming that they occur simultaneously. ( credit amount title are…

Comparative Earnings per Share Lucas Company reports net income of $2,580 for the year ended December 31, 2019, its first year of operations. On January 4, 2019, Lucas issued 9,000 shares of common stock. On August 2, 2019, it issued an additional 4,200 shares of stock, resulting in 13,200 shares outstanding at year-end. During 2020, Lucas earned net income of $17,840. It issued 2,000 additional shares of stock on March 3, 2020, and declared and issued a 2-for-1 stock split on November 3, 2020, resulting in 30,400 shares outstanding at year-end. During 2021, Lucas earned net income of $29,184. The only common stock transaction during 2021 was a 20% stock dividend issued on July 2, 2021. If required, round your final answers to two decimal places. Required: 1. Compute the basic earnings per share that would be disclosed in the 2019 annual report. $ per share 2. Compute the 2019 and 2020 comparative basic earnings per share that would be disclosed in the 2020 annual report. 2020: $ per…