Question

In: Accounting

The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of...

The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the current fiscal year:

Preferred 1% Stock, $50 par (100,000 shares authorized, 79,500 shares issued) $3,975,000
Paid-In Capital in Excess of Par—Preferred Stock 151,050
Common Stock, $3 par (5,000,000 shares authorized, 2,460,000 shares issued) 7,380,000
Paid-In Capital in Excess of Par—Common Stock 1,722,000
Retained Earnings 34,910,000

During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:

Jan. 5 Issued 521,500 shares of common stock at $9, receiving cash.
Feb. 10 Issued 9,100 shares of preferred 1% stock at $59.
Mar. 19 Purchased 51,600 shares of treasury common for $6 per share.
May 16 Sold 18,700 shares of treasury common for $8 per share.
Aug. 25 Sold 4,800 shares of treasury common for $5 per share.
Dec. 6 Declared cash dividends of $0.50 per share on preferred stock and $0.06 per share on common stock.
31 Paid the cash dividends.

Solutions

Expert Solution


Related Solutions

The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of...
The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the current fiscal year: Preferred 1% Stock, $50 par (100,000 shares authorized, 81,900 shares issued) $4,095,000 Paid-In Capital in Excess of Par—Preferred Stock 155,610 Common Stock, $3 par (5,000,000 shares authorized, 1,780,000 shares issued) 5,340,000 Paid-In Capital in Excess of Par—Common Stock 1,602,000 Retained Earnings 35,256,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as...
The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of...
The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the current fiscal year: Preferred 1% Stock, $50 par (100,000 shares authorized, 79,500 shares issued) $3,975,000 Paid-In Capital in Excess of Par—Preferred Stock 151,050 Common Stock, $3 par (5,000,000 shares authorized, 2,460,000 shares issued) 7,380,000 Paid-In Capital in Excess of Par—Common Stock 1,722,000 Retained Earnings 34,910,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as...
The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of...
The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of the current year: Preferred 2% Stock, $80 par (200,000 shares authorized, 65,000 shares issued) $5,200,000 Paid-In Capital in Excess of Par—Preferred Stock 360,000 Common Stock, $12 par (3,000,000 shares authorized, 1,400,000 shares issued) 16,800,000 Paid-In Capital in Excess of Par—Common Stock 1,290,000 Retained Earnings 110,900,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 1% Stock, $50 par (100,000 shares authorized, 83,900 shares issued) $4,195,000 Paid-In Capital in Excess of Par—Preferred Stock 184,580 Common Stock, $3 par (5,000,000 shares authorized, 2,120,000 shares issued) 6,360,000 Paid-In Capital in Excess of Par—Common Stock 1,590,000 Retained Earnings 31,692,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 1% Stock, $50 par (100,000 shares authorized, 81,900 shares issued) $4,095,000 Paid-In Capital in Excess of Par—Preferred Stock 155,610 Common Stock, $3 par (5,000,000 shares authorized, 1,780,000 shares issued) 5,340,000 Paid-In Capital in Excess of Par—Common Stock 1,602,000 Retained Earnings 35,256,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current fiscal year: Preferred 1% Stock, $50 par (100,000 shares authorized, 83,900 shares issued) $4,195,000 Paid-In Capital in Excess of Par—Preferred Stock 184,580 Common Stock, $3 par (5,000,000 shares authorized, 2,120,000 shares issued) 6,360,000 Paid-In Capital in Excess of Par—Common Stock 1,590,000 Retained Earnings 31,692,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 1% Stock, $50 par (100,000 shares authorized, 75,100 shares issued) $3,755,000 Paid-In Capital in Excess of Par—Preferred Stock 165,220 Common Stock, $3 par (5,000,000 shares authorized, 1,690,000 shares issued) 5,070,000 Paid-In Capital in Excess of Par—Common Stock 1,014,000 Retained Earnings 30,836,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:...
The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of...
The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of the current year: Preferred 2% Stock, $175 par (90,000 shares authorized, 45,000 shares issued) $7,875,000 Paid-In Capital in Excess of Par—Preferred Stock 1,260,000 Common Stock, $15 par (600,000 shares authorized, 230,000 shares issued) 3,450,000 Paid-In Capital in Excess of Par—Common Stock 450,000 Retained Earnings 27,634,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows:...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 1% Stock, $50 par (100,000 shares authorized, 79,600 shares issued) $3,980,000 Paid-In Capital in Excess of Par—Preferred Stock 159,200 Common Stock, $3 par (5,000,000 shares authorized, 1,870,000 shares issued) 5,610,000 Paid-In Capital in Excess of Par—Common Stock 1,215,500 Retained Earnings 31,497,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 1% Stock, $50 par (100,000 shares authorized, 79,600 shares issued) $3,980,000 Paid-In Capital in Excess of Par—Preferred Stock 159,200 Common Stock, $3 par (5,000,000 shares authorized, 1,870,000 shares issued) 5,610,000 Paid-In Capital in Excess of Par—Common Stock 1,215,500 Retained Earnings 31,497,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT