Prepare the Stockholders' Equity Section Renee Corporation has the following stockholders' equity information: $5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized 750,000 40,000 Issued 300,000 8,000 Outstanding 250,000 8,000 Retained earnings is $1,837,000, and the cost of treasury shares is $1,200,000. Required: Prepare the stockholders' equity portion of Renee's balance sheet.

Prepare the Stockholders' Equity Section Renee Corporation has the following stockholders' equity information: $5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized 750,000 40,000 Issued 300,000 8,000 Outstanding 250,000 8,000 Retained earnings is $1,837,000, and the cost of treasury shares is $1,200,000. Required: Prepare the stockholders' equity portion of Renee's balance sheet.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter20: Corporations: Organization And Capital Stock

Section: Chapter Questions

Problem 4CE: Prepare the stockholders equity section of the balance sheet based on the following account...

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Alert Companys shareholders equity prior to any of the following events is as follows: The company is considering the following alternative items: 1. An 8% stock dividend on the common stock when it is selling for 30 per share. 2. A 30% stock dividend on the common stock when it is selling for 32 per share. 3. A special stock dividend to common shareholders consisting of 1 share of preferred stock for every 100 shares of common stock. The preferred stock and common stock are selling for 123 and 31 per share, respectively. 4. A 2-for-1 stock split on the common stock, reducing the par value to 5 per share (assume the same date for declaration and issuance). The market price is 30 per share on the common stock. 5. A property dividend to common shareholders consisting of 100 bonds issued by West Company. These bonds are carried on the Alert Company books as an available-for sale investment at a fair value of 48,000 (which is also its cost); it has a current value of 54,000. 6. A cash dividend, consisting of a normal dividend and a liquidating dividend, on both the preferred and the common stock. The 10% preferred dividend includes a 2% liquidating dividend, and the 2.30 per share common dividend includes a 0.30 per share liquidating dividend (separate liquidating dividend contra accounts should be used). Required: For each of the preceding alternative items: 1. Record (a) the journal entry at the date of declaration and (b) the journal entry at the date of issuance. 2. Compute the balances in the shareholders equity accounts immediately after the issuance (any gains or losses are to be reflected in the retained earnings balance; ignore income taxes).
Prepare the stockholders equity section of the balance sheet based on the following account balances: Common stock, 2 par, 60,000 shares 120,000 Preferred stock, 10 par, 5%, 4,000 shares 40,000 Common stock subscribed, 2 par, 3,000 shares 6,000 Retained earnings 17,000 The answers to the Self-Study Test Questions are at the end of the chapter (pages 811812).
Outstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.
A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting journal entry would include which of the following? A. a credit to common stock B. a credit to cash C. a debit to paid-in capital in excess of preferred stock D. a debit to cash
Contributed Capital Adams Companys records provide the following information on December 31, 2019: Additional information: 1. Common stock has a 5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a 100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at 120 per share. The stock pays an 8% dividend, is cumulative, and is callable at 130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Include appropriate parenthetical notes.
The balance sheet caption for common stock is the following: Common stock, $2 par value, 2,070,000 shares authorized, 1,310, 000 shares issued, 1,050,000 shares outstanding $? Required: a. Calculate the dollar amount that will be presented opposite this caption. b. Calculate the total amount of a cash dividend of $0.27 per share. c. What accounts for the difference between issued shares and outstanding shares? a. Amount b. Cash dividend c. Difference between issued shares and outstanding shares
ion Shown below is information relating to the stockholders' equity of Ozone Corporation at June 30, 2023. $400,000 6% cumulative preferred stock, $100 par, 50,000 shares authorized Common stock, $4.55 par, 40,000 shares authorized; 30,800 shares issued and outstanding Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained earnings What is total paid-in capital? Select one: O a. $2,160,000. O b. $540,000. O c. $2,040,000. O d. $660,000. $140,000 $100,000 $1,400,000 $120,000
The stockholder's equity section of Rashid Corporation's balance sheet appears as follows: Stockholders' Equity: $5 Preferred Stocks, $100 P.V, callable at $110 500,000 Authorized Common Stocks, $5 P.V 7000,000 Authorized, Additional Paid in Capital 15000,000 16000,000 Preferred Stocks 560,000 3000,000 Common Stocks Retained Earnings at end Total Shareholder's Equity Instructions: 3560,000 5000,000 39560,000 On the basis of above information, answer the following questions and show any necessary supporting computations: a) How many shares of preferred stocks have been issu ed? b) What is the total annual dividend requirement on the outstanding preferred stocks? c) How many shares of common stocks have been issued? d) What was the average price per share received by the Corpor ation for its common stocks? e) What is the total amount of legal capital? f) What is the total paid in capital? 8) What is book value per share of common stocks?
The shareholders’ equity of Raven Company is as shown: RAVEN COMPANY Partial Balance Sheet 1 Common stock, $10 par $300,000.00 2 Additional paid-in capital on common stock 200,000.00 3 Retained earnings 200,000.00 4 $700,000.00 Raven is considering the declaration and issuance of a stock dividend at a time when the market price is $20 per share. Required: 1. Assuming the board of directors recommends a 6% stock dividend, prepare: a. the journal entry at the date of declaration b. the journal entry at the date of issuance c. shareholders’ equity after the issuance
The shareholders’ equity of Raven Company is as shown: RAVEN COMPANY Partial Balance Sheet 1 Common stock, $10 par $300,000.00 2 Additional paid-in capital on common stock 200,000.00 3 Retained earnings 200,000.00 4 $700,000.00 Raven is considering the declaration and issuance of a stock dividend at a time when the market price is $20 per share. Required: 1. Assuming the board of directors recommends a 6% stock dividend, prepare: a. the journal entry at the date of declaration b. the journal entry at the date of issuance c. shareholders’ equity after the issuance 2. Assuming, instead, that a 40% stock dividend is recommended, answer a, b, and c of Requirement 1.
The shareholders’ equity of Raven Company is as shown: RAVEN COMPANY Partial Balance Sheet 1 Common stock, $10 par $200,000.00 2 Additional paid-in capital on common stock 100,000.00 3 Retained earnings 200,000.00 4 $500,000.00 Raven is considering the declaration and issuance of a stock dividend at a time when the market price is $25 per share. Required: 1. Assuming the board of directors recommends a 6% stock dividend, prepare: a. the journal entry at the date of declaration b. the journal entry at the date of issuance c. shareholders’ equity after the issuance 2. Assuming, instead, that a 40% stock dividend is recommended, answer a, b, and c of Requirement 1. Chart of Accounts CHART OF ACCOUNTS Raven Company General Ledger ASSETS 111 Cash 121 Accounts Receivable 141 Inventory 152 Prepaid Insurance 181 Equipment 189 Accumulated Depreciation…
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) 1,000,000 120,000 Common stock (Par $0.20) Additional Paid in capital 8,915,000 Total paid in capital 10,035,000 Retained earnings 1,400,000 -54,000 Treasury stock (3,000 common shares) Total stockholders equity 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?

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	$5 Par Common	$10 Par Preferred
Additional paid-in capital	$2,250,000		$50,000
Shares:
Authorized	750,000		40,000
Issued	300,000		8,000
Outstanding	250,000		8,000