Question

In: Accounting

Prepare a stockholder's equity section of the balance sheet in proper format using the following information....

Prepare a stockholder's equity section of the balance sheet in proper format using the following information. (Remember treasury stock is common stock)

  Poppa Inc. was organized and authorized to issue 25,000 shares of $500 par value, 4% percent preferred stock, and 250,000 shares of $6 par value common stock on July 1, 2019

a.       Issued 1,200 shares of preferred stock

b.       APIC – preferred 15,000

c.       Issued 60,000 shares of common stock

d.       APIC-Common 194,000

e.       Had 3,000 shares of treasury stock at a cost of 30,000

f.        APIC-Treasury 4,200

g.       Retained earnings had a balance of 23,000

Solutions

Expert Solution

IF YOU HAVE ANY DOUBTS PLEASE FEEL FREE TO COMMENT. PLEASE - - - - PLEASE KINDLY UP-VOTE. IT HELPS ME A LOT. THANK YOU IN ADVANCE.


Related Solutions

Prepare a stockholder's equity section of the balance sheet by using the following information: 1. Studley...
Prepare a stockholder's equity section of the balance sheet by using the following information: 1. Studley Inc. was organized and authorized to issue 10,000 shares of $100 par value, 5% percent preferred stock, and 150,000 shares of $1 par value common stock on September 1st, 2019 a.       Issued 2,000 shares of preferred stock b.   APIC – preferred 15,000 c.       Issued 58,000 shares of common stock d.       APIC - Common 154,000 e. APIC - Treasury 15,750 e.       Had 3,000 shares of treasury stock at a...
Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty...
Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 1,500 shares have been reacquired. Common Stock, $50 par $1,950,000 Paid-In Capital in Excess of Par 162,050 Paid in Capital from Sale of Treasury Stock 6,050 Retained Earnings 117,000 Treasury Stock 4,550 Stockholders' Equity Contributed capital: $ Total contributed capital $ Total $ Treasury stock Total stockholders' equity $
Prepare the Paid-In Capital portion of the Stockholders’ Equity section of the balance sheet using Method...
Prepare the Paid-In Capital portion of the Stockholders’ Equity section of the balance sheet using Method 1 of Exhibit 8 . There are 375,000 shares of common stock authorized and 85,000 shares of preferred stock authorized. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Point Loma Group Inc. Stockholders’ Equity (Paid-In Capital Section) October 31, 20XX 1 Paid-in capital: 2 3 4 5 6 7 8 9 The following accounts...
Prepare the worksheet, income statement, statement of owner's equity and balance sheet using the following information....
Prepare the worksheet, income statement, statement of owner's equity and balance sheet using the following information. Account Balances of Cross Lumber Account No. 110 Cash 1300 111 Accounts Receivable 1280 112 Merchandise Inventory 4300 113 Lumber Supplies 267 114 Prepaid Insurance 209 121 Lumber Equipment 3300 122 Acc. Dep. Lumber Equipment 530 220 Accounts Payable 1200 221 Wages Payable - 330 J. Cross, Capital 5761 331 J. Cross, Withdrawls 2700 332 Income Summary - 440 Sales 23200 441 Sales Returns...
Questions: 1. Record the transactions in the general journal. 2. Prepare the stockholder's equity section of...
Questions: 1. Record the transactions in the general journal. 2. Prepare the stockholder's equity section of D-Cell's balance sheet at October 31, 2018. Assume D-Cell's net income for the month was $87,000. D-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes D-Cell to issue 110,000 shares of 6%, $50 par value cumulative preferred stock and 100,000 shares of $2 par value common stock. During the first month, D-Cell completed the...
Prepare the income statement, the statement of owner's equity, and a classified balance sheet. Use proper...
Prepare the income statement, the statement of owner's equity, and a classified balance sheet. Use proper formatting techniques including headings and dollar signs. You opened a new pet supplies store and named it Ozzie’s Pet Supply and Boarding on December 1, 2019. The following information about December’s transactions, accounts, and adjustment data is available. Transactions: Dec. 1 Family members contributed $50,000 cash to the business in exchange for capital. Dec. 2 Purchased $10,800 of equipment for the store paying cash....
Balance sheet: What is the Financial position of the company's Assets, Liabilities, and Stockholder's Equity?
Balance sheet: What is the Financial position of the company's Assets, Liabilities, and Stockholder's Equity?
Homework Corporation had the following equity section of the balance sheet:
Homework Corporation had the following equity section of the balance sheet: Common Stock, 10,000 shares outstanding                              150,000 Retained Earnings                                                                          600,000 Total Equity                                                                                       750,000 The following transactions took place The company issued 1,000 shares of common stock for $90 per share The company declared a $2.00 per share cash dividend The company paid the dividend The company declared and issued a 3:1 stock split The company purchased 500 shares of company stock for $40 per share The company declared a $1.00...
Required: Prepare the proper ADJUSTING journal entries for the following events. Also, prepare a balance sheet...
Required: Prepare the proper ADJUSTING journal entries for the following events. Also, prepare a balance sheet after adjusting entries have been made. The unadjusted trial balance for Tahini & Jam Inc. appears below:                                         Tahini & Jam Inc.                                    Unadjusted Trial Balance                                        December 31, 2020                                                                       Debit                     Credit Cash                                                          $75,500 Accounts receivable                                       5,000 Prepaid rent                                                 1,000 Prepaid insurance                                         15,000 Supplies                                                        3,000 Equipment                                                   40,000 Accumulated depreciation-equipment                                          $4,000 Accounts payable                                                                       11,000 Bank loan payable                                                                     10,000 Unearned service revenue                                                           10,500 Common...
Create a balance sheet and income statement using the following information: WIth proper financial statement formatting...
Create a balance sheet and income statement using the following information: WIth proper financial statement formatting Any missing information, please fill in. Total Shareholder Equity Long Term Debt: 3,650,000 Inventories: 350,000 Income Taxes: 85,000 Total Non-Operating Expenses, Net Common stock: 100,000 Total Assets Retained Earnings: 3,000,000 Cost of Goods Sold: 2,000,000 Interest Income: 20,000 Accounts Receivable: 1,500,000 General and Administrative Costs: 1,000,000 Accruals: 800,000 Preferred Stock Net Earnings Goodwill & Other Intangibles: 1,800,000 Net Revenue: 4,500,000 Earnings Before Income Taxes...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT