HANDOUT PROBLEM on VARIOUS OTHER STOCK TRANSACTIONS Last Corporation had the following stockholders' equity amounts on January 1, 2021: Preferred Stock, 4%, $20 par, 30,000 shares authorized, 7,000 shares issued and 7,000 shares outstanding, cumulative (one year of dividends in arrears), nonparticipating $140,000 Paid in Capital in Excess of Par- Preferred 14,000 Common Stock, S10 par, 5,000,000 shares authorized, 600,000 shares issued and 590,000 shares outstanding 6,000,000 Paid in Capital in Excess of Par - Common Total Paid in Capital Retained Earnings Total Paid in Capital plus Retained Earnings Treasury Stock 18.000,000 24,154,000 2.000,000 26,154,000 - 390,000 Total Stockholders' Equity $25,764,000 Last completed the following chronological transactions during 2021: Declared a cash dividend to satisfy the preferred stockholders when the preferred stock was selling for $22 per share Declared a 3% stock dividend for the common stockholders when the common stock was а. b. selling for $48 per share. Paid the cash dividend in "a." when the preferred was selling for $21.75 per share. Paid the stock dividend in "b." when the common was selling for $47 per share. Called in 1,000 shares of preferred stock at the call price of $23. Sold 3,000 shares of the treasury stock for $49 per share in cash. Discovered a mistake in calculating depreciation back in 2019. The amount of depreciation was too high by $50,000. The tax rate in 2019 was 28% and the tax rate for c. d. е. f. g. 2021 was 30%. INSTRUCTIONS: Prepare journal entries for the above events Prepare the updated stockholders' equity section of the balance sheet in good form on December 31, 2021, including the effects of the entries above assuming that net income 1. 2. for 2021 was $600,000.

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On January 1, 2024, Dolar Incorporated had the following account balances in its shareholders' equity accounts. $ 241,000 482,000 195,000 1,950,000 3,900,000 20,500 Common stock, $1 par, 241,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 19,500 shares outstanding Retained earnings Treasury stock, at cost, 4,100 shares During 2024, Dolar Incorporated had several transactions relating to common stock. January 15: February 17: April 10: July 18: December 1: December 20: Declared a property dividend of 100,000 shares of Burak Company (book value $11.9 per share, fair value $9.95 per share). Shareholders' equity Distributed the property dividend. A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Dolar chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. Declared and distributed a 4% stock dividend…

Selected Stock Transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $175 par (80,000 shares authorized, 40,000 shares issued) $7,000,000 Paid-In Capital in Excess of Par—Preferred Stock 1,120,000 Common Stock, $10 par (800,000 shares authorized, 210,000 shares issued) 2,100,000 Paid-In Capital in Excess of Par—Common Stock 270,000 Retained Earnings 22,239,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Issued 80,000 shares of common stock at $13, receiving cash. Issued 20,000 shares of preferred 2% stock at $188. Purchased 48,000 shares of treasury common for $15 per share. Sold 24,000 shares of treasury common for $18 per share. Sold 16,000 shares of treasury common for $13 per share. Declared cash dividends of $3.50 per share on preferred stock and $0.08 per share on common stock.…

Selected Stock Transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (70,000 shares authorized, 35,000 shares issued) $3,500,000 Paid-In Capital in Excess of Par—Preferred Stock 420,000 Common Stock, $20 par (800,000 shares authorized, 270,000 shares issued) 5,400,000 Paid-In Capital in Excess of Par—Common Stock 700,000 Retained Earnings 21,242,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Issued 80,000 shares of common stock at $26, receiving cash. Issued 18,000 shares of preferred 2% stock at $115. Purchased 48,000 shares of treasury common for $23 per share. Sold 24,000 shares of treasury common for $26 per share. Sold 16,000 shares of treasury common for $21 per share. Declared cash dividends of $2.00 per share on preferred stock and $0.04 per share on common stock.…

On January 1, 2021, Nichols Corporation had 500,000 shares of common stock outstanding. During 2021 there were the following changes: Mar 1 Issued 150,000 shares Apr 1 Issued a 15% stock dividend May 1 Acquired 50,000 shares of treasury stock July 1 Issued a 2-1 stock split Oct 1 Reissued 60,000 shares of treasury stock Instructions: Compute the weighted average shares outstanding for 2021 in the excel file.

The stockholders' equity section of Waterway Corporation appears below as of December 31, 2025. 8% preferred stock, $50 par value, authorized 114,400 shares, outstanding 104,400 shares Common stock, $1.00 par, authorized and issued 10,000,000 shares Additional paid-in capital Retained earnings (includes 2025 net income of $38.280,000) Total stockholders' equity $5,220,000 10,000,000 23,780,000 193,720,000 232.720,000 Earnings per share. Net income for 2025 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of $20,880,000 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $417,600 were declared and paid in 2025. Dividends of $1,160,000 were declared and paid to common stockholders in 2025, Compute earnings per share data as it should appear on the income statement of Waterway Corporation. (Round answers to 2 decimal places, e.g. 1.48.) ...

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