The Stockholders’ Equity accounts of ExxonMobil on December 31, 2022 were as follows: Preferred Stock ( 6% , $100 par, cumulative, 800 authorized) $720,000 Common Stock ( $3 par, 1,500,000 authorized) 1,080,000 APIC – Preferred Stock 108,000 APIC – Common Stock 840,000 Retained Earnings 936,000 Treasury Stock – Common ( $9 cost) 54,000
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The
| $720,000 | |
| Common Stock ( $3 par, 1,500,000 authorized) | 1,080,000 |
| APIC – Preferred Stock | 108,000 |
| APIC – Common Stock | 840,000 |
| 936,000 | |
| 54,000 |
During 2023, ExxonMobil had the following transactions and events pertaining to its stockholders’ equity:
March 21: Issued 24,000 shares of Common Stock in exchange for Land. On the date of purchase, the Land had a Fair Market Value of $210,000 and the stock was selling for $11 per share.
April 17: Sold 1,800 shares of Treasury Stock – Common for $12 per share.
November 22: Purchased 800 shares of Common Stock for the Treasury at a cost of $7,560.
December 31: Determine that net income for the year was $556,000. Dividends were declared and paid during December. These dividends included a $0.20 per share dividend to common stockholders of record as of December 12. Preferred dividends are one year in arrears.
What is the Total Stockholders’ Equity as of December 31, 2023?
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- Raun Company had the following equity items as of December 31, 2019: Preferred stock, 9% cumulative, 100 par, convertible Paid-in capital in excess of par value on preferred stock Common stock, 1 stated value Paid-in capital in excess of stated value on common stock| Retained earnings The following additional information about Raun was available for the year ended December 31, 2019: 1. There were 2 million shares of preferred stock authorized, of which 1 million were outstanding. All 1 million shares outstanding were issued on January 2, 2016, for 120 a share. The preferred stock is convertible into common stock on a 1-for-1 basis until December 31, 2025; thereafter, the preferred stock ceases to be convertible and is callable at par value by the company. No preferred stock has been converted into common stock, and there were no dividends in arrears at December 31, 2019. 2. The common stock has been issued at amounts above stated value per share since incorporation in 2002. Of the 5 million shares authorized, 3,580,000 were outstanding at January 1, 2019. The market price of the outstanding common stock has increased slowly but consistently for the last 5 years. 3. Raun has an employee share option plan where certain key employees and officers may purchase shares of common stock at 100% of the marker price at the date of the option grant. All options are exercisable in installments of one-third each year, commencing 1 year after the date of the grant, and expire if not exercised within 4 years of the grant date. On January 1, 2019, options for 70,000 shares were outstanding at prices ranging from 47 to 83 a share. Options for 20,000 shares were exercised at 47 to 79 a share during 2019. During 2019, no options expired and additional options for 15,000 shares were granted at 86 a share. The 65,000 options outstanding at December 31, 2019, were exercisable at 54 to 86 a share; of these, 30,000 were exercisable at that date at prices ranging from 54 to 79 a share. 4. Raun also has an employee share purchase plan whereby the company pays one-half and the employee pays one-half of the market price of the stock at the date of the subscription. During 2019, employees subscribed to 60,000 shares at an average price of 87 a share. All 60,000 shares were paid for and issued late in September 2019. 5. On December 31, 2019, there was a total of 355,000 shares of common stock set aside for the granting of future share options and for future purchases under the employee share purchase plan. The only changes in the shareholders equity for 2019 were those described previously, the 2019 net income, and the cash dividends paid. Required: Prepare the shareholders equity section of Rauns balance sheet at December 31, 2019. Substitute, where appropriate, Xs for unknown dollar amounts. Use good form and provide full disclosure. Write appropriate notes as they should appear in the publisher financial statements.Treasury Stock, Cost Method Bush-Caine Company reported the following data on its December 31, 2018, balance sheet: The following transactions were reported by the company during 2019: 1. Reacquired 200 shares of its preferred stock at 57 per share. 2. Reacquired 500 shares of its common stock at 16 per share. 3. Sold 100 shares of preferred treasury stock at 58 per share. 4. Sold 200 shares of common treasury stock at 17 per share. 5. Sold 100 shares of common treasury stock at 9 per share. 6. Retired the shares of common stock remaining in the treasury. The company maintains separate treasury stock accounts and related additional paid-in capital accounts for each class of stock. Required: 1. Prepare the journal entries required to record the treasury stock transactions using the cost method. 2. Assuming the company earned a net income in 2019 of 30.000 and declared and paid dividends of 10,000, prepare the shareholders equity section of its balance sheet at December 31, 2019.Lyon Company shows the following condensed income statement information for the year ended December 31, 2019: Lyon declared dividends of 6,000 on preferred stock and 17,280 on common stock. At the beginning of 2019, 10,000 shares of common stock were outstanding. On May 1, 2019, the company issued 2,000 additional common shares, and on October 31, 2019, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible. Required: 1. Compute the 2019 basic earnings per share. 2. Show the 2019 income statement disclosure of basic earnings per share. 3. Draft a related note to accompany the 2019 financial statements.
- The Stockholders' Equity accounts of ExxonMobil on December 31, 2022 were as follows: Preferred Stock ( 6%, $100 par, cumulative, 800 authorized) $720,000 Common Stock ($3 par, 1,500,000 authorized) 1,080,000 APIC - Preferred Stock APIC-Common Stock Retained Earnings Treasury Stock - Common ($9 cost) During 2023, ExxonMobil had the following transactions and events pertaining to its stockholders' equity: March 21: Issued 24,000 shares of Common Stock in exchange for Land. On the date of purchase, the Land had a Fair Market Value of $210,000 and the stock was selling for $11 per share. April 17: Sold 1,800 shares of Treasury Stock - Common for $12 per share. November 22: Purchased 800 shares of Common Stock for the Treasury at a cost of $7,560. December 31: Determine that net income for the year was $556,000. Dividends were declared and paid during December. These dividends included a $0.20 per share dividend to common stockholders of record as of December 12. Preferred dividends are…The Stockholders’ Equity accounts of ExxonMobil on December 31, 2022 were as follows: Preferred Stock ( 6% , $100 par, cumulative, 800 authorized) $720,000 Common Stock ( $3 par, 1,500,000 authorized) 1,080,000 APIC – Preferred Stock 108,000 APIC – Common Stock 840,000 Retained Earnings 936,000 Treasury Stock – Common ( $9 cost) 54,000 During 2023, ExxonMobil had the following transactions and events pertaining to its stockholders’ equity: March 21: Issued 24,000 shares of Common Stock in exchange for Land. On the date of purchase, the Land had a Fair Market Value of $252,000 and the stock was selling for $11 per share. April 17: Sold 1,800 shares of Treasury Stock – Common for $12 per share. November 22: Purchased 800 shares of Common Stock for the Treasury at a cost of $7,600. December 31: Determine that net income for the year was $555,600. Dividends were declared and paid during December. These dividends included a $0.20 per share dividend to common stockholders…The Stockholders' Equity accounts of ExxonMobil on December 31, 2022 were as follows: Preferred Stock ( 6%, $100 par, cumulative, 800 authorized) $720,000 Common Stock ( $3 par, 1,500,000 authorized) $1,080,000 (360000 Common Stock) APIC - Preferred Stock $108,000 APIC - Common Stock $840,000 Retained Earnings $936,000 Treasury Stock - Common ($9 cost) 54,000 During 2023, ExxonMobil had the following transactions and events pertaining to its stockholders' equity: March 21: Issued 24,000 shares of Common Stock in exchange for Land. On the date of purchase, the Land had a Fair Market Value of $252,000 and the stock was selling for $11 per share. April 17: Sold 1,800 shares of Treasury Stock - Common for $12 per share. November 22: Purchased 800 shares of Common Stock for the Treasury at a cost of $7,600. December 31: Determine that net income for the year was $555,600. Dividends were declared and paid during December. These dividends included a $0.20 per share dividend to common…
- Shown below is information relating to the stockholders' equity of Robertson Corporation at December 31, 2022: 12% cumulative preferred stock, $150 par Common stock, $1.50 par Additional paid-in capital: preferred stock Additional paid-in capital: common stock Treasury stock (at cost: 6,000 common shares) Retained earnings Refer to the above data. How many shares of common stock are outstanding? O a. 600,000 O b. 406,000 O c. 594,000 O d. 394,000 $1,500,000 600,000 300,000 900,000 180,000 1,350,000please dont provide answer in image format thank you The Stockholders’ Equity accounts of ExxonMobil on December 31, 2022 were as follows: Preferred Stock (6%, $100 par, cumulative, 800 authorized) $600,000 Common Stock ($3 par, 1,500,000 authorized) 900,000 APIC – Preferred Stock 90,000 APIC – Common Stock 700,000 Retained Earnings 780,000 Treasury Stock – Common ($9 cost) 45,000 During 2023, ExxonMobil had the following transactions and events pertaining to its stockholders’ equity: March 21: Issued 20,000 shares of Common Stock in exchange for Land. On the date of purchase, the Land had a Fair Market Value of $210,000 and the stock was selling for $11 per share. April 17: Sold 1,500 shares of Treasury Stock – Common for $12 per share. November 22: Purchased 700 shares of Common Stock for the Treasury at a cost of $6,300. December 31: Determine that net income for the year was $463,000. Dividends were declared and paid during December. These dividends included a $0.20 per share…The following data is available for Crane Corporation at December 31, 2025: Common stock, par $10 (authorized 31500 shares) $283500 Treasury stock (at cost $15 per share) $1080 Based on the data, how many shares of common stock are issued? O 28278. O 31428. O 31500. O 28350.
- Stockholders' equity accounts, arranged aphabetically are the ledger of Pina Colada Corp. at December 31, 2020. Common Stock ($5 stated value) $1,675,000 Paid-in capital inexcess of par-preferred stock 279,000 Paid-in capital in excess of stated value-common stock. 936,000 Preferred stock (8%, $103 par) 489,250 Ratained Earnings 1,120,000 Treasury Stock (12,000 common shares) 144,000 Prepare the stockholders' equity section of the balance sheet at December 31, 2020. *please solve and explain process. Thank youThe following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Pina Colada Corp. at December 31, 2022. Common Stock ($2 stated value) $2,160,000 Paid-in Capital in Excess of Par Value—Preferred Stock 60,750 Paid-in Capital in Excess of Stated Value—Common Stock 1,417,500 Preferred Stock (5%, $100 par, noncumulative) 810,000 Retained Earnings 1,800,900 Treasury Stock (16,200 common shares) 97,200 Prepare the stockholders’ equity section of the balance sheet at December 31, 2022.The following data is available for Sheffield Service Corporation at December 31, 2020: Common stock, par $10 (authorized 100000 shares) Treasury Stock (at cost $15 per share) $413000 O 41300 O 50000 O 37700 O 48200 54000 Based on the data, how many shares of common stock are outstanding?
