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Company A Partial Balance Sheet December 31, 2014 Stockholders’ Equity Paid-in Capital Capital Stock Common...

Company A

Partial Balance Sheet

December 31, 2014

Stockholders’ Equity

Paid-in Capital

Capital Stock

Common Stock, no par $10 stated value, $2,480,000

2,000,000 shares authorized,

248,000 shares issued and outstanding

Additional paid-in capital

Common Stock 3,720,000

Total paid-in capital 6,200,000

Retained Earnings 540,000

Total Stockholders’ Equity $6,740,000

On February 15, 2015 the company issued 25,000 shares at $32 per share. On July 2, they repurchased 4,610 shares of its common stock at $28 per share. On March 1 and September 1, they declared a cash dividend of $1.10 per share. The dates of record were March 15 and September 15. The dividends were paid on April 1 and October 1. Net income for the year was $125,000. Prepare the necessary journal entries and the Stockholders’ Equity section of the Balance Sheet for December 31, 2015.

Expert Solution

ekkarill92 answered 1 year ago

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