In: Accounting
Ivanhoe Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet.
Preferred stock, 10%, $100 par (10,000 shares authorized, 2,100 shares issued) | $210,000 | |
Common stock, $5 par (92,500 shares authorized, 18,500 shares issued) | 92,500 | |
Additional paid-in capital | 132,000 | |
Retained earnings | 434,000 | |
Total | $868,500 |
During 2020, Ivanhoe took part in the following transactions
concerning stockholders’ equity.
1. | Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. | |
2. | Purchased 1,800 shares of its own outstanding common stock for $40 per share. Ivanhoe uses the cost method. | |
3. | Reissued 600 treasury shares for land valued at $30,200. | |
4. | Issued 530 shares of preferred stock at $106 per share. | |
5. | Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $47 per share. | |
6. | Issued the stock dividend. | |
7. | Declared the annual 2020 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021. |
Prepare the December 31, 2020, stockholders’ equity section. Assume 2020 net income was $321,000. (Enter account name only .Do not provide any descriptive information.)
IVANHOE COMPANY |
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Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity |
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Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity |
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Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity |
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Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity |
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Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity |
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Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity |