FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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All I need help with is part b: Fill in the amount that would appear in the stockholders’ equity section for Windsor, Inc. at December 31, 2020, for the following items:

Windsor, Inc.'s stockholders' equity section at December 31, 2019, appears below:
Stockholder's equity
Paid-in capital
Common stock, $10 par, 60,000
outstanding
Paid-in capital in excess of par
Total paid-in capital
Retained earnings
$600,000
179,000
$779,000
152,000
$931,000
Total stockholder's equity
On June 30, 2020, the board of directors of Windsor, Inc. declared a 15% stock dividend, payable on July 31, 2020, to stockholders of
record on July 15, 2020. The fair value of Windsor, Inc.'s stock on June 30, 2020, was $16.
On December 1, 2020, the board of directors declared a 2-for-1 stock split effective December 15, 2020. Windsor, Inc.'s stock was
selling for $18 on December 1, 2020, before the stock split was declared. Par value of the stock was adjusted. Net income for 2020
was $231,000 and there were no cash dividends declared.
(a)
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Transcribed Image Text:Windsor, Inc.'s stockholders' equity section at December 31, 2019, appears below: Stockholder's equity Paid-in capital Common stock, $10 par, 60,000 outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings $600,000 179,000 $779,000 152,000 $931,000 Total stockholder's equity On June 30, 2020, the board of directors of Windsor, Inc. declared a 15% stock dividend, payable on July 31, 2020, to stockholders of record on July 15, 2020. The fair value of Windsor, Inc.'s stock on June 30, 2020, was $16. On December 1, 2020, the board of directors declared a 2-for-1 stock split effective December 15, 2020. Windsor, Inc.'s stock was selling for $18 on December 1, 2020, before the stock split was declared. Par value of the stock was adjusted. Net income for 2020 was $231,000 and there were no cash dividends declared. (a)
Date
Account Titles and Explanation
Debit
Credit
6/30/17 v
Stock Dividends
144000
Common Stock Dividends Distributable
90000
Paid-in Capital in Excess of Par Value-Common St
54000
7/15/17
No Entry
No Entry
7/31/17
Common Stock Dividends Distributable
90000
Common Stock
90000
12/1/17 v
No Entry
No Entry
12/15/17 vNo Entry
No Entry
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(ь)
Fill in the amount that would appear in the stockholders' equity section for Windsor, Inc. at December 31, 2020, for the following items:
1. Common stock
2.
Number of shares outstanding
3.
Par value per share
4. Paid-in capital in excess of par
5. Retained earnings
6. Total stockholders' equity
%24
>
>
expand button
Transcribed Image Text:Date Account Titles and Explanation Debit Credit 6/30/17 v Stock Dividends 144000 Common Stock Dividends Distributable 90000 Paid-in Capital in Excess of Par Value-Common St 54000 7/15/17 No Entry No Entry 7/31/17 Common Stock Dividends Distributable 90000 Common Stock 90000 12/1/17 v No Entry No Entry 12/15/17 vNo Entry No Entry Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT (ь) Fill in the amount that would appear in the stockholders' equity section for Windsor, Inc. at December 31, 2020, for the following items: 1. Common stock 2. Number of shares outstanding 3. Par value per share 4. Paid-in capital in excess of par 5. Retained earnings 6. Total stockholders' equity %24 > >
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