Question
In: Accounting
the data group showing common shre unlimited authorized 240000 shares issued and outstanding 528000 retained earning...
the data group showing
common shre unlimited authorized 240000 shares issued and
outstanding 528000
retained earning 500000
during 2020 the following equity transtions
apr 15 repurchased and retired 9800 shares at $20.40 per
share
may 1 repurchased and retired 21000 common shares at $23.60 per
share
nov. 1 the board of directors declared at 2:1 share split effective
on this data
prepare journel entries
2. prepare company equity section loss of $156000
prepare the company equity section on the dec. 31 2020 assuming loss os the year og $156000
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Walden Corporation had 1,000,000 shares of authorized common stock; 200,000 shares issued, and 120,000 shares outstanding...
Walden Corporation had 1,000,000 shares of authorized common
stock; 200,000 shares issued, and 120,000 shares outstanding as of
January 1, 2019. During 2019 Walden reported EBIT of $2,000,000 and
net income of $1,575,000 and paid out $300,000 in common dividends
to the common stockholders. Also, on October 1, 2019 Walden
repurchased 20,000 shares of the outstanding common stock. What is
the weighted average number of shares Walden would use in computing
Basic EPS for 2019?
Prepare statement of retained earnings: Common stock—$10 par value, 100,000 shares authorized, 55,000 shares issued and...
Prepare statement of retained earnings:
Common stock—$10 par value, 100,000 shares authorized, 55,000
shares issued and outstanding $ 550,000 Paid-in capital in excess
of par value, common stock 80,000 Retained earnings 460,000 Total
stockholders’ equity $ 1,090,000 In year 2016, the following
transactions affected its stockholders’ equity accounts. Jan. 1
Purchased 5,000 shares of its own stock at $20 cash per share. Jan.
5 Directors declared a $4 per share cash dividend payable on Feb.
28 to the Feb. 5...
McGregor Corporation is authorized to issue an unlimited number of common shares and 500,000 shares of...
McGregor Corporation is authorized to issue an unlimited number
of common shares and 500,000 shares of preferred shares. During
2021, its first year of operation, the company had profit of
$305,000. The following share transactions occurred:
Jun
1
Paid the province $1,800 for incorporation fees.
Jun
5
Issued 100,000 of $4 cumulative preferred shares at $22 per
share.
Jul
25
Lawyers for the company accepted 250 common shares as payment
for legal services
provided in helping the company incorporate. The...
McGregor Corporation is authorized to issue an unlimited number of common shares and 500,000 shares of...
McGregor Corporation is authorized to issue an unlimited number
of common shares and 500,000 shares of preferred shares. During
2021, its first year of operation, the company had profit of
$305,000. The following share transactions occurred:
Jun
1
Paid the province $1,800 for incorporation fees.
Jun
5
Issued 100,000 of $4 cumulative preferred shares at $22 per
share.
Jul
25
Lawyers for the company accepted 250 common shares as payment
for legal services
provided in helping the company incorporate. The...
create journal entries: Common stock—$10 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $...
create journal entries: Common stock—$10 par value, 100,000
shares authorized, 55,000 shares issued and outstanding $ 550,000
Paid-in capital in excess of par value, common stock 80,000
Retained earnings 460,000 Total stockholders’ equity $ 1,090,000 In
year 2016, the following transactions affected its stockholders’
equity accounts. Jan. 1 Purchased 5,000 shares of its own stock at
$20 cash per share. Jan. 5 Directors declared a $4 per share cash
dividend payable on Feb. 28 to the Feb. 5 stockholders of...
Common stock—$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $1,100,000 Paid-in capital in...
Common stock—$20 par value, 100,000 shares authorized, 55,000
shares issued and outstanding $1,100,000 Paid-in capital in excess
of par value, common stock 70,000 Retained earnings 430,000 Total
stockholders' equity $1,600,000 In year 2017, the following
transactions affected its stockholders’ equity accounts. Jan. 1
Purchased 4,500 shares of its own stock at $25 cash per share. Jan.
5 Directors declared a $6 per share cash dividend payable on
February 28 to the February 5 stockholders of record. Feb. 28 Paid
the...
Common stock—$10 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $550,000 Paid-in capital in...
Common stock—$10 par
value, 100,000 shares authorized,
55,000 shares issued and outstanding
$550,000
Paid-in capital in
excess of par value, common stock
60,000
Retained
earnings
460,000
Total stockholders'
equity
$1,070,000
In year 2017, the following transactions affected its stockholders’
equity accounts.
Jan.
1
Purchased 4,500 shares of its own
stock at $20 cash per share.
Jan.
5
Directors declared a $4 per share
cash dividend payable on February 28 to the February 5 stockholders
of record.
Feb.
28
Paid the...
Common stock—$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $ 1,100,000 Paid-in capital...
Common stock—$20 par value, 100,000 shares authorized,
55,000 shares issued and outstanding
$
1,100,000
Paid-in capital in excess of par value, common stock
60,000
Retained earnings
460,000
Total stockholders' equity
$
1,620,000
In year 2017, the following transactions affected its stockholders’
equity accounts.
Jan.
1
Purchased 5,500 shares of its own stock at $25 cash per
share.
Jan.
5
Directors declared a $4 per share cash dividend payable on
February 28 to the February 5 stockholders of record.
Feb.
28...
Preferred Stock- 5% $11 Par Value 5,500 shares authorized 4,000 shares issued and outstanding Common Stock...
Preferred Stock- 5% $11 Par Value 5,500 shares authorized 4,000
shares issued and outstanding
Common Stock - $.20 Par Value 2,000,000 shares authorized,
1,650,000 shares issued and outstanding
Requirement 1.
Sapphire declares cash dividends of $28,000 for 2018.
How much of the dividends goes to preferred? stockholders? How
much goes to common? stockholders? ?(Complete all input boxes.
Enter? "0" for any zero? amounts.)
Sapphire dividend would be divided between preferred and common
stockholders in this? manner:
Total Dividend
Dividend to...
Common stock—$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $ 1,100,000 Paid-in capital...
Common stock—$20 par value, 100,000 shares authorized, 55,000
shares issued and outstanding $ 1,100,000 Paid-in capital in excess
of par value, common stock 70,000 Retained earnings 400,000 Total
stockholders' equity $ 1,570,000 In year 2017, the following
transactions affected its stockholders’ equity accounts. Jan. 1
Purchased 5,000 shares of its own stock at $20 cash per share. Jan.
5 Directors declared a $4 per share cash dividend payable on
February 28 to the February 5 stockholders of record. Feb. 28...
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