Financial Accounting, Student Value Edition (5th Edition)
5th Edition
ISBN: 9780134728520
Author: Robert Kemp, Jeffrey Waybright
Publisher: PEARSON
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Chapter 10, Problem 42BE
1.
To determine
Prepare
2.
To determine
Prepare the stockholder’s equity section of the
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E13-26 Journalizing issuance of stock and treasury stock transactions
Learning Objectives 2, 3
May 22 Treasury Stock $16,900
Stock transactions for Careful Driving School, Inc. follow:
Mar. 4 Issued 27,000 shares of $1 par value common stock at $10 per
share.
May 22 Purchased 1,300 shares of treasury stock-common at $13 per
share.
Sep. Sold 500 shares of treasury stock-common at $23 per share.
22
Oct. 14 Sold 800 shares of treasury stock-common at $9 per share.
Journalize the transactions.
Reporting Stockholders Equity
Using the following accounts and balances, prepare the Stockhalders' Equity section of the balance sheet using Method 1 of Exhibit 8. 50,000 shares of common stock authorized, and 2,000 shares have been reacquired.
Comman Stock, $sa0 par
$3,200,000
Paid-In Capital from Sale of Treasury Stock
Paid-in Capital in Excess of Par-Common Stock
64,000
440,000
Retained Earnings
1,728,000
Treasury Stock
42,000
Stockholders' Equity
Paid-In Capital:
Common Stock, S80 Par
3200,000
Excess over par
440,000
Treasury Stock
From Sale of Treasury Stock
64.000
Total Paid-in Capital
3,704.000
Retained Eamings
Total
Treasury Stock
Total Stockholders' Equity
Reporting Stockholders' Equity
Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. Five hundred thousand shares of common stock are authorized,
and 35,000 shares have been reacquired.
Common Stock, $120 par
$25,500,000
Paid-In Capital from Sale of Treasury Stock
4,074,000
Paid-In Capital in Excess of Par-Common Stock
7,230,000
Retained Earnings
47,101,000
Treasury Stock
3,920,000
Stockholders' Equity
Paid-in capital:
Total Paid-In Capital
Total Stockholders' Equity
%24
Chapter 10 Solutions
Financial Accounting, Student Value Edition (5th Edition)
Ch. 10 - What are the four baste rights of stockholders?Ch. 10 - Assume you are a CFO of a company that is...Ch. 10 - Prob. 3DQCh. 10 - What accounts, if any, are involved in the journal...Ch. 10 - With which type of stock would dividends in...Ch. 10 - What accounts are affected by the declaration and...Ch. 10 - What are some of the reasons for issuing a stock...Ch. 10 - Prob. 8DQCh. 10 - What could you reasonably conclude if a company...Ch. 10 - Prob. 10DQ
Ch. 10 - Prob. 1SCCh. 10 - Prob. 2SCCh. 10 - Prob. 3SCCh. 10 - Prob. 4SCCh. 10 - Prob. 5SCCh. 10 - Prob. 6SCCh. 10 - Prob. 7SCCh. 10 - Prob. 8SCCh. 10 - Prob. 9SCCh. 10 - Prob. 10SCCh. 10 - Prob. 11SCCh. 10 - Prob. 12SCCh. 10 - Stockholders' equity terminology (Learning...Ch. 10 - Stock issuance (Learning Objective 3) 5-10 min....Ch. 10 - Issuance of stock for cash and noncash assets...Ch. 10 - Prob. 4SECh. 10 - Prob. 5SECh. 10 - Prob. 6SECh. 10 - Prob. 7SECh. 10 - Accounting for cash dividends (Learning Objective...Ch. 10 - Prob. 9SECh. 10 - Prob. 10SECh. 10 - Prob. 11SECh. 10 - Prob. 12SECh. 10 - Prob. 13SECh. 10 - Prob. 14SECh. 10 - Prob. 15AECh. 10 - Issuing stock (Learning Objectives 3 7) 10-15 min....Ch. 10 - Prob. 17AECh. 10 - Prob. 18AECh. 10 - Prob. 19AECh. 10 - Accounting for cash dividends (Learning Objective...Ch. 10 - Prob. 21AECh. 10 - Accounting for cash and stock dividends (Learning...Ch. 10 - Prob. 23AECh. 10 - Prob. 24AECh. 10 - Prob. 25AECh. 10 - Accounting for treasury stock (Learning Objectives...Ch. 10 - Prob. 27AECh. 10 - Prob. 28AECh. 10 - Prob. 29AECh. 10 - Calculating return on equity (Learning Objective...Ch. 10 - Prob. 31BECh. 10 - Prob. 32BECh. 10 - Prob. 33BECh. 10 - Prob. 34BECh. 10 - Prob. 35BECh. 10 - Prob. 36BECh. 10 - Accounting for stock dividends (Learning...Ch. 10 - Accounting for cash and stock dividends (Learning...Ch. 10 - Prob. 39BECh. 10 - Prob. 40BECh. 10 - Accounting for treasury stock (Learning Objectives...Ch. 10 - Prob. 42BECh. 10 - Disclosing stockholders equity on a balance sheet...Ch. 10 - Accounting for various stockholders' equity...Ch. 10 - Prob. 45BECh. 10 - Prob. 46BECh. 10 - Prob. 47APCh. 10 - Analyzing stockholders equity (Learning Objectives...Ch. 10 - Analyzing stockholders equity (Learning Objectives...Ch. 10 - Accounting for cash dividends (Learning Objective...Ch. 10 - Accounting for various stockholders equity...Ch. 10 - Prob. 52APCh. 10 - Prob. 53APCh. 10 - Prob. 54BPCh. 10 - Prob. 55BPCh. 10 - Analyzing stockholders equity (Learning Objectives...Ch. 10 - Accounting for cash dividends (Learning Objective...Ch. 10 - Prob. 58BPCh. 10 - Prob. 59BPCh. 10 - Prob. 60BPCh. 10 - Prob. 1CECh. 10 - Continuing Problem This problem continues our...Ch. 10 - Prob. 1EIACh. 10 - Case 2. The board of directors for Atlantic...Ch. 10 - Financial Analysis Purpose: To help familiarize...Ch. 10 - Prob. 1IACh. 10 - Prob. 1SBACh. 10 - Written Communication You just got off the...
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