Kohler Corporation reports the following components of stockholders’ equity at December 31 of the prior year. Common stock—$25 par value, 100,000 shares authorized, 60,000 shares issued and outstanding $ 1,500,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 460,000 Total stockholders' equity $ 2,040,000 During the current year, the following transactions affected its stockholders’ equity accounts. January 2 Purchased 6,000 shares of its own stock at $15 cash per share. January 5 Directors declared a $4 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 3,000 of its treasury shares at $19 cash per share. August 22 Sold 3,000 of its treasury shares at $11 cash per share. September 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 Closed the $368,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Prepare a statement of retained earnings for the current year ended December 31.

The stockholders’ equity section of Creighton Company’s balance sheet is shown as follows:   CREIGHTON COMPANY As of December 31, Year 3 Stockholders’ equity       Preferred stock, $10 stated value, 7% cumulative,300 shares authorized, 50 issued and outstanding $ 500   Common stock, $10 par value, 250 shares authorized,100 issued and outstanding   1,000   Common stock, class B, $20 par value, 400 sharesauthorized, 150 issued and outstanding   3,000   Common stock, no par, 150 shares authorized,100 issued and outstanding   2,200   Paid-in capital in excess of stated value—preferred   600   Paid-in capital in excess of par value—common   1,200   Paid-in capital in excess of par value—class B common   750   Retained earnings   7,000   Total stockholders’ equity $ 16,250      Requireda. Assuming the preferred stock was originally issued for cash, determine the amount of cash collected when the stock was issued.b. Based on the class B common stock alone,…

A company with 118,808 authorized shares of $5 par common stock issued 31,951 shares at $16 per share. Subsequently, the company declared a 2% stock dividend on a date when the market price was $33 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend? Oa. $17,893 Ob. $21,088 Oc. $3,195 Od. $78,413

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Vishal

A company reports the following components of stockholders’ equity at December 31 of the prior year.  Common stock—$15 par value, 100,000 shares authorized, 60,000 shares issued and outstanding $ 900,000 Paid-in capital in excess of par value, common stock 60,000 Retained earnings 370,000 Total stockholders' equity $ 1,330,000  During the current year, the following transactions affected its stockholders’ equity accounts.  January 2 Purchased 4,000 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 2,000 of its treasury shares at $24 cash per share. August 22 Sold 2,000 of its treasury shares at $16 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 dividend declared on…

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The stockholders’ equity section of Sheridan Inc. at the beginning of the current year appears below. Common stock, $10 par value, authorized 1,043,000 shares, 321,000 shares issued and outstanding   $3,210,000 Paid-in capital in excess of par—common stock   562,000 Retained earnings   624,000 During the current year, the following transactions occurred. 1.   The company issued to the stockholders 109,000 rights. Ten rights are needed to buy one share of stock at $30. The rights were void after 30 days. The market price of the stock at this time was $32 per share. 2.   The company sold to the public a $204,000, 10% bond issue at 104. The company also issued with each $100 bond one detachable stock purchase warrant, which provided for the purchase of common stock at $28 per share. Shortly after issuance, similar bonds without warrants were selling at 96 and the warrants at $8. 3.   All but 5,450 of the rights issued in (1) were exercised in 30 days. 4.   At the end…

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The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows. Stockholders' Equity Paid-in capital Preferred stock, ? par value, 6% cumulative, 110,000 shares authorized, 41,000 shares issued and outstanding Common stock, $20 stated value, 160,000 shares authorized, 41,000 shares issued and ?? shares outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Common Total paid-in capital Retained earnings Treasury stock, 3,000 shares Total stockholders' equity Note: The market value per share of the common stock is $42, and the market value per share of the preferred stock is $13. Required a. What is the par value per share of the preferred stock? b. What is the dividend per share on the preferred stock? c. What is the number of common stock shares outstanding? d. What was the average issue price per share (price for which the stock was issued) of the common stock? f. If Mann Equipment Company…