Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
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Chapter 13, Problem 3AP
1.
To determine
Describe the transactions for the given
2.
To determine
Complete the given table in the given format.
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Austin Company reports the following components of stockholders' equity on January 1.
Common stock-$10 par value, 110,000 shares authorized,
40,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
$ 400,000
60,000
330,000
$ 790,000
Total stockholders' equity
During the year, the following transactions affected its stockholders' equity accounts.
Jan.
2 Purchased 4,000 shares of its own stock at $23 cash per share.
5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of
record.
28 Paid the dividend declared on January 5.
6 Sold 1,500 of its treasury shares at $27 cash per share.
22 Sold 2,500 of its treasury shares at $20 cash per share.
5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of
Jan.
Feb.
July
Aug.
Sept.
Oct.
Dec.
record.
28 Paid the dividend declared on. September 5.
31 Closed the $497,000 credit balance (from net…
Prepare a statement of stockholders' equity for Al-Can Products, Inc.
Navigate to the Stockholders' Equity Statement tab in the spreadsheet.
Use the following information to prepare your statement:
a. January 1 balance of capital stock account of 9,000 shares issued at $6.00 per share was
$54,000.00.
b. No other stock was issued during the year.
c. January 1 balance of retained earnings account was $29,250.00.
d. Net Income was $41,106.00.
e. Dividends declared during the year were $19,200.00.
Statement of stockholders' equity
Financial information related to Webber Company for the month ended June 30, 20Y7, is as follows:
Common Stock, June 1, 20Y7
Stock issued in June
Net income for June
Dividends during June
Retained earnings, June 1, 20Y7
Balances, June 1, 20Y7
Issuance of common stock
Net income
Dividends
$59,000
Balances, June 30, 20Y7
41,000
Prepare a statement of stockholders' equity for the month ended June 30, 20Y7. If an amount box does not require an entry, leave it blank or enter "0".
Webber Company
Statement of Stockholders' Equity
For the Month Ended June 30, 20Y7
101,490
11,160
774,400
Common Stock Retained Earnings
59,000 ✓
774,400 ✓
41,000✔
Total
DO
101,490
11,160
Chapter 13 Solutions
Principles of Financial Accounting.
Ch. 13 - A corporation issues 6,000 shares of 5 par value...Ch. 13 - A company reports net income of 75,000. Its...Ch. 13 - A company has 5,000 shares of 100 par preferred...Ch. 13 - A company paid cash dividends of 0.81 per share....Ch. 13 - Prob. 5MCQCh. 13 - What are organization expenses? Provide examples.Ch. 13 - How are organization expenses reported?Ch. 13 - Prob. 3DQCh. 13 - What is the difference between authorized shares...Ch. 13 - Prob. 5DQ
Ch. 13 - List the general rights of common stockholders.Ch. 13 - What is the difference between the market value...Ch. 13 - Identify and explain the importance of the three...Ch. 13 - Prob. 9DQCh. 13 - How does declaring a stock dividend affect the...Ch. 13 - What is the difference between a stock dividend...Ch. 13 - Prob. 12DQCh. 13 - Prob. 13DQCh. 13 - How is book value per share computed for a...Ch. 13 - Prob. 15DQCh. 13 - Prob. 16DQCh. 13 - Prob. 17DQCh. 13 - Prob. 1QSCh. 13 - Issuance of common stock Prepare the journal entry...Ch. 13 - Issuance of par and stated value common stock...Ch. 13 - Issuance of no-par common stock Prepare the...Ch. 13 - Prob. 5QSCh. 13 - Accounting for cash dividends Prepare journal...Ch. 13 - Prob. 7QSCh. 13 - Accounting for small stock dividend The...Ch. 13 - Prob. 9QSCh. 13 - Accounting for dividends For each of the following...Ch. 13 - Preferred stock issuance and dividends 1. Prepare...Ch. 13 - Dividend allocation between classes of...Ch. 13 - Prob. 13QSCh. 13 - Prob. 14QSCh. 13 - Purchase and sale of treasury stock On May 3,...Ch. 13 - Prob. 16QSCh. 13 - Prob. 17QSCh. 13 - For each situation, identify whether it is treated...Ch. 13 - Prob. 19QSCh. 13 - Basic earnings per share Murray Company reports...Ch. 13 - Epic Company earned net income of 900,000 this...Ch. 13 - Price-earnings ratio Compute Topp Companys...Ch. 13 - Prob. 23QSCh. 13 - Book value per common share The stockholders...Ch. 13 - Prob. 1ECh. 13 - Prob. 2ECh. 13 - Accounting for par, stated, and no-par stock...Ch. 13 - Recording stock issuances Prepare journal entries...Ch. 13 - Stock issuance for noncash assets Sudoku Company...Ch. 13 - On June 30, Sharper Corporations stockholders...Ch. 13 - Prob. 7ECh. 13 - The stockholders equity section of TVX Company on...Ch. 13 - Prob. 9ECh. 13 - Yorks outstanding stock consists of 80,000 shares...Ch. 13 - Prob. 11ECh. 13 - Prob. 12ECh. 13 - In Draco Corporations first year of business, the...Ch. 13 - Prob. 14ECh. 13 - Prob. 15ECh. 13 - Prob. 16ECh. 13 - Prob. 17ECh. 13 - Price-earnings ratio computation and...Ch. 13 - Prob. 19ECh. 13 - The equity section of Cyril Corporations balance...Ch. 13 - Prob. 21ECh. 13 - Stockholders equity transactions and analysis...Ch. 13 - Prob. 2APCh. 13 - Prob. 3APCh. 13 - The equity sections for Atticus Group at the...Ch. 13 - Prob. 5APCh. 13 - Stockholders equity transactions and analysis...Ch. 13 - Balthus Corp. reports the following components of...Ch. 13 - Prob. 3BPCh. 13 - Prob. 4BPCh. 13 - Prob. 5BPCh. 13 - Santana Rey created Business Solutions on October...Ch. 13 - Prob. 1AACh. 13 - Use the following comparative figures for Apple...Ch. 13 - Prob. 3AACh. 13 - Prob. 1BTNCh. 13 - Access the March 1, 2017, fi ling of the 2016...Ch. 13 - Prob. 5BTN
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