FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Splish Company reported the following amounts in the stockholders' equity section of its December 31, 2024, balance sheet.
Preferred stock, 10%, $100 par (10,000 shares authorized, 1,800 shares issued)
Common stock, $5 par (94,000 shares authorized, 18,800 shares issued)
Additional paid-in capital
Retained earnings
Total
1.
2.
♡
During 2025, Splish took part in the following transactions concerning stockholders' equity.
4.
5.
6.
$180,000
7.
94,000
131,000
478,000
$883,000
Paid the annual 2024 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These
dividends had been declared on December 31, 2024.
Purchased 1,500 shares of its own outstanding common stock for $43 per share. Splish uses the cost method.
Reissued 800 treasury shares for land valued at $36,200.
Issued 540 shares of preferred stock at $104 per share.
Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $41 per share.
Issued the stock dividend.
Declared the annual 2025 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These
dividends are payable in 2026.
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Transcribed Image Text:Splish Company reported the following amounts in the stockholders' equity section of its December 31, 2024, balance sheet. Preferred stock, 10%, $100 par (10,000 shares authorized, 1,800 shares issued) Common stock, $5 par (94,000 shares authorized, 18,800 shares issued) Additional paid-in capital Retained earnings Total 1. 2. ♡ During 2025, Splish took part in the following transactions concerning stockholders' equity. 4. 5. 6. $180,000 7. 94,000 131,000 478,000 $883,000 Paid the annual 2024 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2024. Purchased 1,500 shares of its own outstanding common stock for $43 per share. Splish uses the cost method. Reissued 800 treasury shares for land valued at $36,200. Issued 540 shares of preferred stock at $104 per share. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $41 per share. Issued the stock dividend. Declared the annual 2025 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2026.
(b)
Prepare the December 31, 2025, stockholders' equity section. Assume 2025 net income was $347,000. (Enter account name only
.Do not provide any descriptive information.)
Capital Stock
Common Stock
Preferred Stock
Total Capital Stock
Additional Paid-in Capital
Total Paid-in Capital
Retained Earnings
Total Paid-in Capital and Retained Earnings
Less
: Treasury Stock
Total Stockholders' Equity
<
<
SPLISH COMPANY
Stockholders' Equity
December 31, 2025
$
LA
$
$
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Transcribed Image Text:(b) Prepare the December 31, 2025, stockholders' equity section. Assume 2025 net income was $347,000. (Enter account name only .Do not provide any descriptive information.) Capital Stock Common Stock Preferred Stock Total Capital Stock Additional Paid-in Capital Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings Less : Treasury Stock Total Stockholders' Equity < < SPLISH COMPANY Stockholders' Equity December 31, 2025 $ LA $ $
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