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In: Accounting
On June 30, Sharper Corporation’s stockholders' equity section of its balance sheet appears as follows before...
On June 30, Sharper Corporation’s stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock—$10 par value, 120,000 shares authorized, 74,000 shares issued and outstanding $ 740,000 Paid-in capital in excess of par value, common stock 320,000 Retained earnings 720,000 Total stockholders’ equity $ 1,780,000 Required: (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made.
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ekkarill92 answered 1 year agoRelated Solutions
On June 30, Sharper Corporation’s stockholders' equity section of its balance sheet appears as follows before...
On June 30, Sharper Corporation’s stockholders' equity section of
its balance sheet appears as follows before any stock dividend or
split. Sharper declares and immediately distributes a 50% stock
dividend.
Common stock—$10 par value, 120,000 shares authorized, 52,000
shares issued and outstanding
$
520,000
Paid-in capital in excess of par value, common stock
210,000
Retained earnings
665,000
Total stockholders’ equity
$
1,395,000
Exercise 13-6 Large stock dividend LO P2
Required:
(1) Prepare the updated stockholders' equity section after the
distribution...
The stockholders' equity section of the balance sheet appears as follows at January 1, 2014: Common...
The stockholders' equity section of the balance sheet appears as
follows at January 1, 2014:
Common Stock, $2 par, 2,000 shares issued and outstanding
$4,000
Paid-in Capital in Excess of Par--Common Stock
1,600
Total Capital Stock
5,600
Retained Earnings
5,400
Total Stockholders' Equity
$11,000
On March 1, 2014, the company repurchased 800 shares of its common
stock at $12 per share but on April 6, 2014, it reissued 600 shares
of the shares at $20 per share.
A) Prepare the...
DeZurik Corp. had the following stockholders’ equity section in its June 30, 2020, balance sheet (in...
DeZurik Corp. had the following stockholders’ equity section in
its June 30, 2020, balance sheet (in thousands, except share and
per share amounts):
June 30 (in thousands)
2020
2019
Paid-in capital:
$4.50 Preferred stock, $ ? par value, cumulative, 150,000 shares
authorized, 64,000 shares issued and outstanding
$
5,760
Common stock, $5 par value, 4,000,000 shares authorized,
1,640,000 shares issued, 1,500,000 shares outstanding
Additional paid-in capital on common stock
22,960
Retained earnings
Less: Treasury common stock, at cost, ? shares...
Stockholders’ Equity: Transactions and Statement The stockholders’ equity section of Night Corporation’s balance sheet at January...
Stockholders’ Equity: Transactions and
Statement
The stockholders’ equity section of Night Corporation’s balance
sheet at January 1 follows:
Common stock, $5 par value, 300,000 shares authorized, 60,000
shares
$300,000
issued, 6,000 shares in treasury
Additional paid-in capital
In excess of par value
$480,000
From treasury stock
30,000
510,000
Retained earnings
348,000
1,158,000
Less: Treasury stock (6,000 shares) at cost
138,000
Total Stockholders’ Equity
$1,020,000
The following transactions affecting stockholders’ equity
occurred during the year:
Jan.
8
Issued 15,000 shares of...
A portion of the stockholders’ equity section from the balance sheet of Walland Corporation appears as...
A portion of the stockholders’ equity section from the balance
sheet of Walland Corporation appears as follows. Notice that the
company has two classes of preferred stock with different features,
in addition to common stock.
Stockholders' equity:
Preferred stock, 8% cumulative, $50 par, 40,000 shares
authorized, issued, and outstanding
$
2,000,000
Preferred stock, 12% noncumulative, $100 par, 8,000 shares
authorized, issued, and outstanding
800,000
Common stock, $5 par, 400,000 shares authorized, issued, and
outstanding
2,000,000
Total paid-in capital
$
4,800,000...
The stockholders' equity section of Marigold Corp. balance sheet at December 31, 2019, appears below: Stockholders'...
The stockholders' equity section of Marigold Corp. balance sheet
at December 31, 2019, appears below:
Stockholders' equity
Paid-in capital
Common stock, $10 par
value, 490,000 shares authorized;
320,000 issued and
outstanding
$3,200,000
Paid-in capital in excess of par
1,300,000
Total
paid-in capital
4,500,000
Retained earnings
870,000
Total
stockholders' equity
$5,370,000
During 2020, the following stock transactions occurred:
Jan. 18
Issued 88,000 shares of common stock at $22 per share.
Aug. 20
Purchased 29,000 shares of Marigold Corp. common stock at...
The stockholders’ equity section on the December 31, 2014, balance sheet of American Corporation follows: Stockholders’...
The stockholders’ equity section
on the December 31, 2014, balance sheet of American Corporation
follows:
Stockholders’
Equity
Contributed capital
Preferred
stock (par $21; authorized 17,000 shares, ? issued,
of which 700 shares are held as
treasury stock)
$
126,000
Common stock
(no-par; authorized 24,000 shares, issued
and outstanding 9,000
shares)
801,000
Contributed
capital (includes $3,000 from treasury
stock transactions)
15,000
Retained earnings
48,000
Cost of treasury stock,
preferred
(16,800
)
Required:
1.
Calculate the number of shares
of preferred stock...
The stockholders' equity section of Thomas Corporation's balance sheet at December 31, 2017, appears below: ...
The stockholders' equity section of Thomas Corporation's balance
sheet at December 31, 2017, appears below:
Preferred
Stock, 6%, $15 stated value, 50,000 shares authorized;
10,000
issued and
outstanding 150,000
Paid-in
capital in excess of stated value-preferred
stock 30,000
Common
stock, $10 par value, 400,000 shares authorized;
250,000
issued and
outstanding 2,500,000
Paid-in
capital in excess of par value-common
stock 1,200,000
Retained
earnings 600,000
During 2018, the following stock transactions occurred:
Jan. 18 Issued
50,000 shares of common stock at $30 per share.
Apr. 20 Purchased
25,000 shares...
The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April...
The stockholders’ equity section of Jun Company’s balance sheet
as of April 1 follows. On April 2, Jun declares and distributes a
10% stock dividend. The stock’s per share market value on April 2
is $25 (prior to the dividend).
Common stock—$5 par value, 455,000 shares
authorized, 240,000 shares issued and outstanding$1,200,000
Paid-in capital in excess of par value, common stock 570,000
Retained earnings 873,000
Total stockholders' equity$2,643,000
Prepare the stockholders’ equity section immediately after the
stock dividend.
The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April...
The stockholders’ equity section of Jun Company’s balance sheet
as of April 1 follows. On April 2, Jun declares and distributes a
20% stock dividend. The stock’s per share market value on April 2
is $15 (prior to the dividend).
Common stock—$5 par value,
475,000 shares authorized, 250,000 shares issued and
outstanding
$
1,250,000
Paid-in capital in excess of par
value, common stock
590,000
Retained earnings
883,000
Total stockholders' equity
$
2,723,000
Prepare the stockholders’...
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