Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2024, 125 shares of preferred stock and 1,700 shares of common stock have been issued. The following transactions affect stockholders’ equity during 2024: March 1 Issue 1,700 additional shares of common stock for $18 per share. April 1 Issue 175 additional shares of preferred stock for $27 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.65 per share to all stockholders of record on June 15. June 30 Pay the cash dividends declared on June 1. August 1 Purchase 175 shares of common treasury stock for $15 per share. October 1 Resell 125 shares of treasury stock purchased on August 1 for $17 per share.   Nautical has the following beginning balances in its stockholders’ equity accounts on January 1, 2024: Preferred Stock, $1,250; Common Stock, $1,700; Additional Paid-in Capital, $18,200; and Retained Earnings, $10,200. Net income for the year ended December 31, 2024, is $7,000. Taking into consideration the beginning balances on January 1, 2024 and all the transactions during 2024, respond to the following for Nautical: Required: 1. Prepare the stockholders’ equity section of the balance sheet as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.)

Vikrambhai

Jan. 16 Feb. 15 Jun. 10 Jul. 30 Aug. 15 Oct. 26 Nov. 8 Nov. 30 Declared a cash dividend on the 5%, $105 par noncumulative preferred stock (900 shares outstanding). Declared a $0.55 per share dividend on the 95,000 shares of $6 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Paid the cash dividends. Split common stock 2-for-1. Declared a 50% stock dividend on the common stock. The market value of the common stock was $12 per share. Distributed the stock dividend. Purchased 8,000 shares of treasury stock at $9 per share. Sold 4,000 shares of treasury stock for $10 per share. Sold 1,400 shares of treasury stock for $5 per share.

XYZ CO. had 200 shares of common stock outstanding 12 31, 2020. July 1, 2021 xyz issued 52 shares for cash. On January 1, 2021 xyz issued 22 shares of convertible preferred stock. The preferred stock had a par value of shares $100 per share and paid 6% dividend. Each share of preferred stock is convertible into 9 shares of common. During 2021 xyz paid regular dividend on the preferred and common stock. Net income was 320 Calculate xyz basic and diluted earning per share 2021.

Knapp Industries began business on January 1, 2018 by issuing all of its 1,000,000 authorized shares of its $1 par value common stock for $40 per share. On June 30, Knapp declared a cash dividend of $2 per share to stockholders of record on July 31. Knapp paid the cash dividend on August 30. On November 1, Knapp reacquired 200,000 of its own shares of stock for $50 per share. On December 22, Knapp resold 100,000 of these shares for $60 per share. Required: Prepare the stockholders' equity section of the balance sheet as of December 31, 2018 assuming that the net income for the year was $6,000,000.

Allridge Corporation received cash from issuing 38,000 shares of common stock at $4 per share on January 1, 2018. The stock has a par value of $1 per share. Which is the correct journal entry to record this transaction? O A. Common Stock - $1 Par Value Paid-in Capital in Excess of Par - Common Cash O B. Cash Common Stock $1 Par Value Paid-in Capital in Excess of Par - Common OC. Cash Common Stock - $1 Par Value Paid-in Capital in Excess of Par $1 Par Value Paid-in Capital in Excess of Par Cash OD. Common Stock - ID Common Common 4 38,000 114,000 152,000 152,000 114,000 38,000 152,000 38,000 114,000 114,000 38,000 152,000

Richman Company had 100,000 shares of common stock outstanding as of January 1, 2020. The following common stock transactions occurred during 2020. March 1—Issued 20,000 shares for cash. June 1—Issued a 10% stock dividend. September 1—Reacquired 10,000 shares as treasury shares. November 1—Sold the 10,000 treasury shares for cash. Instructions: Compute the weighted-average common shares for 2020.

At the beginning of 2023, Valero Energy had 300,000 shares of $5 par value Common Stock outstanding. On August 1, Valero issued another 150,000 shares. Valero's 2023 Net Income was $637,500. In addition, you are given the following portion of the Company's 12/31/2023 Stockholders' Equity section of its Balance Sheet: Preferred Stock (5%, $10 par, 90,000 shares issued and outstanding) $900,000 Calculate Valero Energy's Earnings per Share for 2023 (round to the nearest cent). Select one: O O O a. $1.72 b. $1.63 c. $1.32 d. $1.42 e. $1.76

At the beginning of 2023, Barnes & Noble had 240,000 shares of $5 par value common stock outstanding. On August 1, Barnes & Noble issued another 120,000 shares. The Company’s 2023 Net Income was $524,000. In addition, you are given the following portion of Barnes & Noble’s 12/31/2023 Stockholders’ Equity section of its Balance Sheet: Preferred Stock ( 4%, $10 par, 72,000 shares issued and outstanding) $720,000 Calculate Barnes & Noble’s Earnings per Share for 2023 (round to the nearest cent). Select one: a. $1.38 b. $2.06 c. $1.71 d. $1.46 e. $1.81 PreviousSave AnswersFinish attempt ...

Riverbed Corporation was organized on January 1, 2022. It is authorized to issue 14,500 shares of 8%, $100 par value preferred stock, and 475,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Mar. 1 Apr. May Aug. 1 Issued 83,000 shares of common stock for cash at $5.25 per share. Issued 12,000 shares of common stock to attorneys in payment of their bill of $40,500 for services performed in helping the company organize. Sept. 1 Issued 11,500 shares of common stock for cash at $5 per share. Nov. 1 Issued 2,500 shares of preferred stock for cash at $111 per share. (a) 1 Issued 84,500 shares of common stock for cash at $4 per share. Issued 4,050 shares of preferred stock for cash at $110 per share. Issued 24,000 shares of common stock for land. The asking price of the land was $88,500. The fair value of the land was $83,500. 1 Journalize the transactions. (List all debit entries before…