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The following information was extracted from the records of Cascade Company at the end of the fiscal year after all adjusting entries were completed: Common stock ($0.01 par value; 330,000 shares authorized, 60,500 shares issued, 58,500 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the end of the year Treasury stock at cost (2,000 shares) Net income Current stock price $ 605 469,000 28,500 325,000 (21,500) $ 101,500 $ 15 Required: 1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. 2. Compute the dividend yield ratio. Determine the number of shares of stock that received dividends.

The following information was extracted from the records of Cascade Company at the end of the fiscal year after all adjusting entries were completed: Common stock ($0.01 par value; 330,000 shares authorized, 60,500 shares issued, 58,500 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the end of the year Treasury stock at cost (2,000 shares) Net income Current stock price $ 605 469,000 28,500 325,000 (21,500) $ 101,500 $ 15 Required: 1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. 2. Compute the dividend yield ratio. Determine the number of shares of stock that received dividends.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information was extracted from the records of Cascade Company at the end of the fiscal year after all adjusting entries were completed: Common stock ($0.01 par value; 330,000 shares authorized, 60,500 shares issued, 58,500 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the end of the year Treasury stock at cost (2,000 shares) Net income Current stock price Required: 1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. 2. Compute the dividend yield ratio. Determine the number of shares of stock that received dividends. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. Note: Amounts to be deducted should be indicated with a minus sign. Stockholders' equity: Contributed capital: Common stock Cascade Company Balance Sheet (Partial) At December 31, Current Year Additional paid-in capital Retained earnings Total contributed capital Treasury stock Total stockholders' equity $ 605 469,000 325,000 794,605 21,500 $ 605 469,000 28,500 325,000 (21,500) $ 101,500 $ 15 $ 816,105
Transcribed Image Text:The following information was extracted from the records of Cascade Company at the end of the fiscal year after all adjusting entries were completed: Common stock ($0.01 par value; 330,000 shares authorized, 60,500 shares issued, 58,500 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the end of the year Treasury stock at cost (2,000 shares) Net income Current stock price Required: 1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. 2. Compute the dividend yield ratio. Determine the number of shares of stock that received dividends. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. Note: Amounts to be deducted should be indicated with a minus sign. Stockholders' equity: Contributed capital: Common stock Cascade Company Balance Sheet (Partial) At December 31, Current Year Additional paid-in capital Retained earnings Total contributed capital Treasury stock Total stockholders' equity $ 605 469,000 325,000 794,605 21,500 $ 605 469,000 28,500 325,000 (21,500) $ 101,500 $ 15 $ 816,105
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