Financial Accounting
3rd Edition
ISBN: 9780133791129
Author: Jane L. Reimers
Publisher: Pearson Higher Ed
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Chapter 8, Problem 65PB
1.
To determine
Show the effect of each transaction in the
2.
To determine
Prepare the shareholders’ equity section of the
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The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
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1
Common stock, $47 par
$3,073,800.00
2
Paid-In Capital from Sale of Treasury Stock
119,000.00
3
Paid-In Capital in Excess of Par-Common Stock
261,600.00
4
Retained Earnings
19,185,100.00
5
Treasury Stock
326,800.00
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Prepare the Stockholders’ Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 8,600 shares have been reacquired. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtractive or negative numbers use a minus sign.
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Accounts and Amount Descriptions
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Common stock dividends
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Common stock, $47 par; 80,000 shares authorized, 65,400 issued
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Excess over par
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From sale of treasury stock…
The following accounts and their balances appear in the ledger of Goodale Properties
Inc. on June 30 of the current year:
$ 3,060,000
Common Stock, $45 par ...
Paid-In Capital from Sale of Treasury Stock.
Paid-In Capital in Excess of Par-Common Stock.
115,000
272,000
Retained Earnings
20,553,000
Treasury Stock....
324,000
Prepare the Stockholders’ Equity section of the balance sheet as of June 30 using Method
1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 9,000 shares
have been reacquired.
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
1 Common stock, $45 par
$3,141,000.00
2 Paid-In Capital from Sale of Treasury Stock
122,400.00
3 Paid-In Capital in Excess of Par-Common Stock
279,200.00
4 Retained Earnings
20,530,300.00
5 Treasury Stock
332,500.00
Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 9,500 shares
have been reacquired. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must
enter subtractive or negative numbers use a minus sign.
Chapter 8 Solutions
Financial Accounting
Ch. 8 - Prob. 1YTCh. 8 - Prob. 2YTCh. 8 - Prob. 3YTCh. 8 - Prob. 4YTCh. 8 - 1. Compare a stock split and a stock dividend. 2....Ch. 8 - Prob. 6YTCh. 8 - Prob. 1QCh. 8 - Prob. 2QCh. 8 - Prob. 3QCh. 8 - Prob. 4Q
Ch. 8 - Prob. 5QCh. 8 - Prob. 6QCh. 8 - Prob. 7QCh. 8 - Prob. 8QCh. 8 - Prob. 9QCh. 8 - Prob. 10QCh. 8 - Prob. 11QCh. 8 - Would treasury stock be considered authorized,...Ch. 8 - Prob. 13QCh. 8 - Prob. 14QCh. 8 - Prob. 15QCh. 8 - What are the two sections of the shareholders...Ch. 8 - Prob. 17QCh. 8 - Prob. 18QCh. 8 - Prob. 19QCh. 8 - Prob. 1MCQCh. 8 - Prob. 2MCQCh. 8 - Treasury stock is a. a companys own stock that it...Ch. 8 - Prob. 4MCQCh. 8 - Prob. 5MCQCh. 8 - Prob. 6MCQCh. 8 - The number of shares of stock designated as issued...Ch. 8 - Prob. 8MCQCh. 8 - Prob. 9MCQCh. 8 - Prob. 10MCQCh. 8 - Prob. 1SEACh. 8 - Prob. 2SEACh. 8 - Prob. 3SEACh. 8 - Prob. 4SEACh. 8 - Prob. 5SEACh. 8 - Prob. 6SEACh. 8 - Prob. 7SEACh. 8 - Prob. 8SEACh. 8 - Prob. 9SEACh. 8 - Calculate retained earnings balance. (LO 5)....Ch. 8 - Prob. 11SEACh. 8 - Prob. 12SEBCh. 8 - Prob. 13SEBCh. 8 - Prob. 14SEBCh. 8 - Prob. 15SEBCh. 8 - Prob. 16SEBCh. 8 - Prob. 17SEBCh. 8 - Prob. 18SEBCh. 8 - Prob. 19SEBCh. 8 - Prob. 20SEBCh. 8 - Prob. 21SEBCh. 8 - Prob. 22SEBCh. 8 - Prob. 23EACh. 8 - Prob. 24EACh. 8 - Prob. 25EACh. 8 - Prob. 26EACh. 8 - Prob. 27EACh. 8 - Prob. 28EACh. 8 - Prob. 29EACh. 8 - Prob. 30EACh. 8 - Prob. 31EACh. 8 - Analyze equity accounts. (LO 1, 2, 3, 5). The...Ch. 8 - Prob. 33EACh. 8 - Prob. 34EACh. 8 - Prob. 35EACh. 8 - Prob. 36EACh. 8 - Prob. 37EACh. 8 - Prob. 38EACh. 8 - Prob. 39EBCh. 8 - Prob. 40EBCh. 8 - Prob. 41EBCh. 8 - Prob. 42EBCh. 8 - Prob. 43EBCh. 8 - Prob. 44EBCh. 8 - Prob. 45EBCh. 8 - Prob. 46EBCh. 8 - Prob. 47EBCh. 8 - Prob. 48EBCh. 8 - Prob. 49EBCh. 8 - Prob. 50EBCh. 8 - Prob. 51EBCh. 8 - Prob. 52EBCh. 8 - Prob. 53EBCh. 8 - Prob. 54EBCh. 8 - Prob. 55PACh. 8 - Prob. 56PACh. 8 - Prob. 57PACh. 8 - Prob. 58PACh. 8 - Prob. 59PACh. 8 - Prob. 60PACh. 8 - Prob. 61PACh. 8 - Prob. 62PACh. 8 - Prob. 63PBCh. 8 - Prob. 64PBCh. 8 - Prob. 65PBCh. 8 - Prob. 66PBCh. 8 - Prob. 67PBCh. 8 - Prob. 68PBCh. 8 - Prob. 69PBCh. 8 - Prob. 70PBCh. 8 - Prob. 1FSACh. 8 - Prob. 2FSACh. 8 - Prob. 3FSACh. 8 - Prob. 1CTPCh. 8 - Prob. 2CTPCh. 8 - Prob. 1IECh. 8 - Prob. 2IECh. 8 - Prob. 3IECh. 8 - Prob. 4IECh. 8 - Prob. 5IE
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- CHAPTER 11 NAME Shown below is information relating to the stockholders' equity of Revere Corporation at December 31, 2017. 8% cumulative preferred stock, $100 par, 50,000 shares authorized, 15,000 shares issued Common stock, $5 par, 1,500,000 shares authorized, 1,300,000 shares issued and outstanding. Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained earnings..... Each account needs a $ sign. $1,500,000 6,500,000 250,000 3,750,000 3,260,000arrow_forwardJournalize transactions, post, and prepare a stockholders' equity section; calculate ratios. P11-2B The stockholders' equity accounts of Warden Corporation on January 1, 2014, were as follows. Preferred Stock (9%, $50 par cumulative, 10,000 shares authorized) Common Stock ($1 stated value, 2,000,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (8,000 common shares) $ 200,000 1,000,000 16,000 1,400,000 1,716,000 20,000 (LO 2, 3, 5, 7, 8), AP GLS During 2014 the corporation had these transactions and events pertaining to its stock- holders' equity. Feb. Issued 20,000 shares of common stock for $160,000. Purchased 4,000 shares of common stock for the treasury at a cost of $16,000. Declared a 9% cash dividend on preferred stock, payable December 15. Declared a $0.30 per share cash dividend to common stockholders of record on December 15, payable December 31, 2014. Nov. 10…arrow_forward10. At December 31, 2015, the records of Kosme Corporation provided the following: (see attached image for the given. please asnwer it. thank you so much!!) Direction:a. Give the number of shares authorized ___ issued ___b. Give the number of shares outstanding ___c. Give the amount of Additional-Paid-In capital. ___d. Give the earnings per share. ___ Round your answer to two decimal places.e. Amount of dividends paid during 2015. ___f Amount of treasury shares reported in the stockholders' equity ___g. Amount of free retained earnings on December 31. ___arrow_forward
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