Stockholders' Equity: Transactions and StatementThe stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $10 par value, 300,000 shares authorized, 60,000 shares   600,000 issued, 6,000 shares in treasury     Additional paid-in capital     In excess of par value 960,000   From treasury stock 60,000 1,020,000 Retained earnings   696,000     2,316,000 Less: Treasury stock (6,000 shares) at cost   276,000 Total Stockholders’ Equity   2,040,000   The following transactions affecting stockholders’ equity occurred during the year: Jan. 8 Issued 15,000 shares of previously unissued common stock for $42 cash per share. Mar. 12 Sold all of the treasury shares for $56 cash per share. June 30 Declared a five percent stock dividend on all outstanding shares of common stock. The market value of the stock was $50 per share. July 10 Issued the stock dividend declared on June 30. Oct. 7 Acquired 2,500 shares of common stock as treasury stock at $52 cash per share. Dec. 18 Declared a cash dividend of $1.00 per outstanding common share, payable on January 9 to stockholders of record on December 31. Requireda. Prepare journal entries to record the foregoing transactions.b. Prepare a statement of stockholders’ equity. Net income for the year is $682,000.

Company E reports the following stockholders' equity: Common Stock, 100,000 authorized, 30,000 issued, $3 par ? Paid-In Common Stock 93,000 Less: Treasury Stock, 5000 shares (15,000) Retained Earnings 40,000 What was the average price the common stock was issued?

Following is the stockholders' equity section as of June 30. Common stock-$20 par value, 200,000 shares authorized, 80,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity On July 1, the directors declare a 5% stock dividend distributable on July 31 to the July 18 stockholders of record. The stock's market value is $50 per share on July 1 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution. 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) Enter answers in the tabs below. Required 1 Required 2 $ 1,600,000 400,000 750,000 $ 2,750,000 Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) Stockholders' Equity Section of the Balance Sheet July 31 Retained earnings Common stock Paid-in capital in excess of par value, common…

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,…

The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts:  Contributed Capital   Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) $ 110,000 Additional Paid-In Capital, Preferred 15,950 Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,300 shares) 648,900 Retained Earnings 33,000 Treasury Stock, 1,000 Preferred shares at cost (9,650) Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.)

Danger

Stockholders' Equity: Transactions and StatementThe stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $6 par value, 300,000 shares authorized, 60,000 shares   360,000 issued, 6,000 shares in treasury     Additional paid-in capital     In excess of par value 600,000   From treasury stock 37,500 637,500 Retained earnings   435,000     1,432,500 Less: Treasury stock (6,000 shares) at cost   172,500 Total Stockholders’ Equity   1,260,000   The following transactions affecting stockholders’ equity occurred during the year: Jan. 8 Issued 15,000 shares of previously unissued common stock for $26 cash per share. Mar. 12 Sold all of the treasury shares for $35 cash per share. June 30 Declared a five percent stock dividend on all outstanding shares of common stock. The market value of the stock was $31 per share. July 10 Issued the stock dividend declared on June 30. Oct. 7 Acquired 2,500 shares of common…

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…

The stockholders' equity section of TVX Company on February 4 follows. Common stock-$20 par value, 150,000 shares authorized, 57,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $31 per share on February 5 before the stock dividend. Exercise 11-10 (Algo) Part 2 $ 1,140,000 420,000 554,000 $ 2,114,000 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) TVX COMPANY Stockholders' Equity Section of the Balance Sheet February 28 Total stockholders' equity

Stockholders' Equity: Transactions and StatementThe stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $3 par value, 300,000 shares authorized, 60,000 shares   180,000 issued, 6,000 shares in treasury     Additional paid-in capital     In excess of par value 240,000   From treasury stock 15,000 255,000 Retained earnings   174,000     609,000 Less: Treasury stock (6,000 shares) at cost   69,000 Total Stockholders’ Equity   540,000   The following transactions affecting stockholders’ equity occurred during the year: Jan. 8 Issued 15,000 shares of previously unissued common stock for $10 cash per share. Mar. 12 Sold all of the treasury shares for $14 cash per share. June 30 Declared a five percent stock dividend on all outstanding shares of common stock. The market value of the stock was $12 per share. July 10 Issued the stock dividend declared on June 30. Oct. 7 Acquired 2,500 shares of common…