What are the stockholders’ equity accounts used in corporations and What are the events associated with...

What are the stockholders’ equity accounts used in corporations and What are the events associated with periodic payment notes?

Solutions

Expert Solution

Thank you for your patience. Please give positive ratings so I can keep answering. It would help me a lot. Please comment if you have any query. Thanks!

What are the stockholders’ equity accounts used in corporations?

Common stock- It is the primary stock. It has voting rights. It can be of different classes depending upon the voting rights.

Preferred stock- It is the preference stock. It may have voting rights depending upon the issue terms. It always gets dividends first. At the time of dissolution they have preferred rights of payment over Common stock.

Treasury stock- It is stock repurchased by the company. It is a contra equity account.

What are the events associated with periodic payment notes?

Periodic payment notes means notes borrowed by the company in lump sum but paid in installments. The events are borrowing by the company, accrual of payments, payment of installments and at last final payment at the end of term.

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity section of the...

Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. 100,000 shares of common stock authorized, and 10,000 shares have been reacquired. Common Stock, $50 par $3,500,000 Paid-In Capital from Sale of Treasury Stock 70,000 Paid-In Capital in Excess of Par—Common Stock 630,000 Retained Earnings 1,855,000 Treasury Stock 32,000 Stockholders' Equity Paid-In Capital: Common Stock, $50 Par $ $ Total Paid-in Capital $ Total $ Total...

Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year...

Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Jan. 1 Balance 900,000 Apr. 14 Issued 9,600 shares 384,000 Dec. 31 Balance 1,284,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 144,000 Apr. 14 Issued 9,600 shares 76,800 Dec. 31 Balance 220,800 TREASURY STOCK Aug. 7 Purchased 1,600 shares 59,200 RETAINED EARNINGS Mar. 31 Dividend 23,000 Jan. 1 Balance 1,570,000 June. 30 Dividend...

Stockholders’ Equity Transactions, Journal Entries, and T-Accounts The stockholders’ equity of Fremantle Corporation at January 1...

Stockholders’ Equity Transactions, Journal Entries, and T-Accounts The stockholders’ equity of Fremantle Corporation at January 1 follows: 8 Percent preferred stock, $100 par value, 20,000 shares authorized; 4,000 shares issued and outstanding $400,000 Common stock, $1 par value, 10,000 shares authorized; 40,000 shares issued and outstanding 40,000 Paid-in capital in excess of par value-Preferred stock 200,000 Paid-in capital in excess of par value-Common stock 800,000 Retained earnings 560,000 Total Stockholders' Equity $2,000,000 The following transactions, among others, occurred during the...

Requirement: Using below Stockholders' Equity and below transactions, prepare T-accounts for each stockholders' equity account. Common...

Requirement: Using below Stockholders' Equity and below transactions, prepare T-accounts for each stockholders' equity account. Common stock $1 Par Add. Paid in Cap Retained Earnings Treasury Stock Total Share- Holders Equity Bal. 1/1/2015 354,000 10,415,000 2,761,044 - 13,530,044 Common Shares 370,000 12,210,000 Shares Repurchase (83,500 shares) (1,670,000) Cash Dividends (50,000) Net Income 2,696,789 Bal. 12/31/2015 724,000 22,625,000 5,407,833 (1,670,000) 27,086,833 Cash Dividend Comm Stock (75,000) Stock div 5 for 4 181,000 (181,000) Net Income 3,805,617 Bal. 12/31/216 905,000 22,625,000 8,957,450...

What is a statement of stockholders' equity?

What is a statement of stockholders' equity?It is a statement that reconciles only the treasury stock account.It is a statement reconciling the difference between stock issued at par value and stock issued at market value.It is a statement that summarizes changes in the entire stockholders' equity section of the balance sheet.It is the same as a retained earnings statement

WILL RATE! The stockholders equity section of Benton Corporations balance sheet as of December 31, 2017...

WILL RATE! The stockholders equity section of Benton Corporations balance sheet as of December 31, 2017 is as follows: Stockholders Equity CommonStock, $5 par value, authorized-2,000,000 shares..................... ...............$3,000,000 issued - 600,000 shares...................................................................$850,000 Paid in capital in excess of par........................................................................................................................4,500,000 Retained earnings..........................................................................................................................................8,350,000 The following event occurred during 2018: 1. Jan 5: 45,000 shares of authorized and unissued common stock were sold $8 per share 2. Jan 16: Declared a cash dividend of 20 cents per share, payable February 15 to stockholders...

Identify the major components of stockholders’ equity by examining the Statement of Stockholders’ Equity. What types...

Identify the major components of stockholders’ equity by examining the Statement of Stockholders’ Equity. What types of transactions resulted in significant changes in the Stockholder Equity accounts during the most recent year? Did your company make dividend payments to stockholders during the most recent year? For the Company UPS. Using information from UPS website/yahoo finance

The records of Hollywood Company reflected the following balances in the stockholders' equity accounts at the...

The records of Hollywood Company reflected the following balances in the stockholders' equity accounts at the end of the current year: Common stock, $12 par value, 50,000 shares outstanding Preferred stock, 10 percent, $10 par value, 5,000 shares outstanding Retained earnings, $227,000 On September 1 of the current year, the board of directors was considering the distribution of an $82,000 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under...

Balance Sheet (in $ millions) Assets Liabilities and Stockholders' Equity Cash ...................................... $ 7 Accounts payable ............$20 Accounts...

Balance Sheet (in $ millions) Assets Liabilities and Stockholders' Equity Cash ...................................... $ 7 Accounts payable ............$20 Accounts receivable ............ 25 Accrued wages .................7 Inventory .............................. 28 Accrued taxes .................. 13 Current assets ................... $80 Current liabilities .......... $40 Fixed assets ......................... 25 Notes payable ..................15 Common stock .................20 Retained earnings ............ 30 Total Assets ...........................$105 Total liabilities and stockholders’ equity .......$105 If the firm’s sales for last year were $100 million, and the balance sheet at year-end is similar in percentage of sales to that of...

15. (a) Define the terms assets, liabilities, and stockholders’ equity. (b) What items affect stockholders’ equity?...

15. (a) Define the terms assets, liabilities, and stockholders’ equity. (b) What items affect stockholders’ equity? 16. Which of these items are liabilities of White Glove Cleaning Service? (a) Cash. (f) Equipment. (b) Accounts payable. (g) Salaries and wages (c) Dividends. payable. (d) Accounts receivable. (h) Service revenue. (e) Supplies. (i) Rent expense.

Subjects