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In: Accounting
Vega Company reported the following shareholders’ equity section in its most recent balance sheet. Shareholders’ Equity...
Vega Company reported the following shareholders’ equity section in its most recent balance sheet. Shareholders’ Equity Common Stock ($1 par, 2,000,000 shares authorized, 100,000 shares issued, 95,000 shares outstanding) $ 100,000 Additional Paid-in Capital 1,900,000 Total Contributed Capital 2,000,000 Retained Earnings 3,100,000 Total Contributed Capital and Retained Earnings 5,100,000 Less: Cost of Treasury Stock (5,000 shares) (75,000) Total shareholders’ Equity 5,025,000 Prepare the Shareholders’ Equity section for Vega Company if a) Vega declares 100% stock dividend; b) Vega does a 2-for-1 stock split. Write any journal entry necessary..
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ekkarill92 answered 1 year agoRelated Solutions
Wilma Corporation reported the following in its shareholders’ equity section on the January 1, 2019 Balance...
Wilma Corporation reported the following in its shareholders’
equity section on the January 1, 2019 Balance Sheet: Common shares,
100,000 authorized, 25,000 outstanding $100,000 On October 1, 2019,
the company declared a 10% common stock dividend on the outstanding
common shares when they were trading at $32 per share Record the
journal entry for the stock dividends declared . Show
calculations.
Question text Accounting for Shareholders' Equity Transactions The shareholders' equity section of the balance sheet of...
Question text
Accounting for
Shareholders' Equity Transactions
The shareholders' equity section of the balance sheet of The
Claremont Company appeared as follows at the end of the first year
of operations:
Common stock,
$0.08 par value
$480,000
Additional
paid-in-capital
71,520,000
Retained
earnings
25,600,000
Treasury
stock
(6,000,000)
Shareholders'
equity
$91,600,000
During the second year
of operations, the following transactions occurred:
Generated net income of $4.8 million.
Paid a cash dividend of $1.2 million.
Purchased 100,000 shares of common stock at $7.6...
Included in the December 31, 2015, Jacobi Company balance sheet was the following shareholders’ equity section:...
Included in the December 31, 2015, Jacobi Company balance sheet
was the following shareholders’ equity section:
Jacobi Company Balance Sheet (Shareholders' Equity) December 31,
2015
1 Contributed Capital:
2 Preferred stock, 6%, $100 par $200,000.00
3 Additional paid-in capital on preferred stock 12,000.00
$212,000.00
4 Common stock, $5 par $150,000.00
5 Additional paid-in capital on common stock 240,000.00
390,000.00
6 Total contributed capital $602,000.00
7 Retained earnings 627,000.00
8 Accumulated other comprehensive income (loss):
9 Unrealized decrease in value of...
Question 1. Following is the shareholders' equity section of the balance sheet of the Everslim Corporation:...
Question 1.
Following is the shareholders' equity section of the balance
sheet of the Everslim Corporation:
The number of common shares authorized and issued after the
distribution of a 15% common stock dividend is:
Select one:
a. 115,000 and 74,750
b. 100,000 and 65,000
c. 115,000 and 65,000
d. 100,000 and 74,750
Question 2.
Proceeds from the issuance of shares appear in which, if any,
section of the cash flow statement?
Select one:
a. operating activities section
b. investing activities...
The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders’ equity section of the balance sheet of TNL
Systems Inc. included the following accounts at December 31,
2017:
Shareholders'
Equity
($
in millions)
Common stock, 310
million shares at $1 par
$
310
Paid-in capital—excess of
par
2,790
Paid-in capital—share
repurchase
1
Retained earnings
2,100
Required:
1. During 2018, TNL Systems reacquired shares of
its common stock and later sold shares in two separate
transactions. Prepare the entries for both the purchase and
subsequent resale of the shares...
The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders’ equity section of the balance sheet of TNL
Systems Inc. included the following accounts at December 31, 2020:
Shareholders' Equity ($ in millions) Common stock, 400 million
shares at $1 par $ 400 Paid-in capital—excess of par 3,200 Paid-in
capital—share repurchase 1 Retained earnings 3,000 Required: 1.
During 2021, TNL Systems reacquired shares of its common stock and
later sold shares in two separate transactions. Prepare the entries
for both the purchase and subsequent resale of the shares...
The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders’ equity section of the balance sheet of TNL
Systems Inc. included the following accounts at December 31,
2020:
Shareholders' Equity
($ in millions)
Common stock, 270 million shares at $1 par
$
270
Paid-in capital—excess of par
1,890
Paid-in capital—share repurchase
2
Retained earnings
1,700
Required:
1. During 2021, TNL Systems reacquired shares of
its common stock and later sold shares in two separate
transactions. Prepare the entries for both the purchase and
subsequent resale of the shares...
The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders’ equity section of the balance sheet of TNL
Systems Inc. included the following accounts at December 31,
2020:
Shareholders' Equity ($ in millions)
Common stock, 260 million shares at $1 par $ 260
Paid-in capital—excess of par 2,080
Paid-in capital—share repurchase 2
Retained earnings 1,600
Required:
1. During 2021, TNL Systems reacquired shares of its common
stock and later sold shares in two separate transactions. Prepare
the entries for both the purchase and subsequent resale of the
shares...
The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders’ equity section of the balance sheet of TNL
Systems Inc. included the following accounts at December 31,
2017:
Shareholders'
Equity
($
in millions)
Common stock, 380
million shares at $1 par
$
380
Paid-in capital—excess of
par
3,040
Paid-in capital—share
repurchase
1
Retained earnings
2,800
Required:
1. During 2018, TNL Systems reacquired shares of
its common stock and later sold shares in two separate
transactions. Prepare the entries for both the purchase and
subsequent resale of the shares...
The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders’ equity section of the balance sheet of TNL
Systems Inc. included the following accounts at December 31, 2017:
Shareholders' Equity ($ in millions) Common stock, 300 million
shares at $1 par $ 300 Paid-in capital—excess of par 2,400 Paid-in
capital—share repurchase 2 Retained earnings 2,000 Required: 1.
During 2018, TNL Systems reacquired shares of its common stock and
later sold shares in two separate transactions. Prepare the entries
for both the purchase and subsequent resale of the shares...
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