Question
In: Accounting
The following are selected transactions that may affect stockholders’ equity. 1. Recorded accrued interest earned...
The following are selected transactions that may affect stockholders’ equity.
| 1. | Recorded accrued interest earned on a note receivable. | |
| 2. | Declared a cash dividend. | |
| 3. | Declared and distributed a stock split. | |
| 4. | Approved a retained earnings restriction. | |
| 5. | Recorded the expiration of insurance coverage that was previously recorded as prepaid insurance. | |
| 6. | Paid the cash dividend declared in item 2 above. | |
| 7. | Recorded accrued interest expense on a note payable. | |
| 8. | Declared a stock dividend. | |
| 9. | Distributed the stock dividend declared in item 8. |
In the following table, indicate the effect each of the nine transactions has on the financial statement elements listed.
|
|
|
|
Stockholders’ |
Paid-in |
Retained |
Net |
||||||
| 1. |
|
|
|
|
|
|
||||||
| 2. |
|
|
|
|
|
|
||||||
| 3. |
|
|
|
|
|
|
||||||
| 4. |
|
|
|
|
|
|
||||||
| 5. |
|
|
|
|
|
|
||||||
| 6. |
|
|
|
|
|
|
||||||
| 7. |
|
|
|
|
|
|
||||||
| 8. |
|
|
|
|
|
|
||||||
| 9. |
|
|
|
|
|
|
DecreaseIncreaseNo effectSolutions
ekkarill92 answered 3 years agoRelated Solutions
Ratio of Liabilities to Stockholders' Equity and Number of Times Interest Earned The following data were...
Ratio of Liabilities to Stockholders' Equity and Number of Times
Interest Earned
The following data were taken from the financial statements of
Hunter Inc. for December 31 of two recent years:
Current Year
Previous Year
Accounts payable
$982,000
$229,000
Current maturities of serial bonds payable
580,000
580,000
Serial bonds payable, 10%
2,310,000
2,890,000
Common stock, $1 par value
100,000
120,000
Paid-in capital in excess of par
1,060,000
1,070,000
Retained earnings
3,680,000
2,920,000
The income before income tax was $809,200 and...
Ratio of Liabilities to Stockholders' Equity and Number of Times Interest Earned The following data were...
Ratio of Liabilities to Stockholders' Equity and Number of Times
Interest Earned
The following data were taken from the financial statements of
Hunter Inc. for December 31 of two recent years:
Current Year
Previous Year
Accounts payable
$464,000
$286,000
Current maturities of serial bonds payable
470,000
470,000
Serial bonds payable, 10%
2,230,000
2,700,000
Common stock, $1 par value
90,000
110,000
Paid-in capital in excess of par
990,000
1,000,000
Retained earnings
3,440,000
2,730,000
The income before income tax was $756,000 and...
Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from...
Ratio of Liabilities to Stockholders' Equity and Times Interest
Earned
The following data were taken from the financial statements of
Hunter Inc. for December 31 of two recent years:
Current
YearPrevious
Year
Accounts payable$622,000 $168,000
Current maturities of serial bonds payable380,000 380,000
Serial bonds payable, 10%1,560,000 1,940,000
Common stock, $1 par value70,000 90,000
Paid-in capital in excess of par810,000 810,000
Retained earnings2,780,000 2,210,000
The income before income tax expense was $814,800 and $713,000
for the current and previous years, respectively....
Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from...
Ratio of Liabilities
to Stockholders' Equity and Times Interest Earned
The following data
were taken from the financial statements of Hunter Inc. for
December 31 of two recent years:
Current Year
Previous Year
Accounts payable
$744,000
$198,000
Current maturities of serial bonds payable
460,000
460,000
Serial bonds payable, 10%
1,890,000
2,350,000
Common stock, $1 par value
90,000
110,000
Paid-in capital in excess of par
970,000
980,000
Retained earnings
3,360,000
2,670,000
The income before
income tax was $564,000 and $493,500 for...
Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from...
Ratio of Liabilities to Stockholders' Equity and Times Interest
Earned
The following data were taken from the financial statements of
Hunter Inc. for December 31 of two recent years:
Current Year
Previous Year
Accounts payable
$260,000
$224,000
Current maturities of serial bonds payable
340,000
340,000
Serial bonds payable, 10%
1,680,000
2,020,000
Common stock, $1 par value
70,000
100,000
Paid-in capital in excess of par
840,000
840,000
Retained earnings
2,890,000
2,290,000
The income before income tax was $666,600 and $583,300 for...
Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from...
Ratio of Liabilities to Stockholders' Equity and Times Interest
Earned
The following data were taken from the financial statements of
Hunter Inc. for December 31 of two recent years:
Current Year
Previous Year
Accounts payable
$552,000
$162,000
Current maturities of serial bonds payable
370,000
370,000
Serial bonds payable, 10%
1,520,000
1,890,000
Common stock, $1 par value
80,000
100,000
Paid-in capital in excess of par
900,000
900,000
Retained earnings
3,090,000
2,460,000
The income before income tax was $529,200 and $463,100 for...
Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from...
Ratio of Liabilities to Stockholders' Equity and Times Interest
Earned
The following data were taken from the financial statements of
Hunter Inc. for December 31 of two recent years:
Current Year
Previous Year
Accounts payable
$604,000
$290,000
Current maturities of serial bonds payable
530,000
530,000
Serial bonds payable, 10%
2,370,000
2,900,000
Common stock, $1 par value
90,000
110,000
Paid-in capital in excess of par
960,000
970,000
Retained earnings
3,330,000
2,640,000
The income before income tax was $1,044,000 and $913,500 for...
Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from...
Ratio of Liabilities to Stockholders' Equity and Times Interest
Earned
The following data were taken from the financial statements of
Hunter Inc. for December 31 of two recent years:
Current Year
Previous Year
Accounts payable
$628,000
$193,000
Current maturities of serial bonds payable
410,000
410,000
Serial bonds payable, 10%
1,710,000
2,120,000
Common stock, $1 par value
90,000
120,000
Paid-in capital in excess of par
1,010,000
1,010,000
Retained earnings
3,480,000
2,760,000
The income before income tax was $572,400 and $500,900 for...
Ratio of Liabilities to Stockholders' Equity and Times Interest Earned Hasbro, Inc. and Mattel, Inc., are...
Ratio of Liabilities to Stockholders' Equity and Times Interest
Earned
Hasbro, Inc. and Mattel, Inc., are the two largest toy companies
in North America. Condensed liabilities and stockholders' equity
from a recent balance sheet are shown for each company as follows
(in thousands):
Hasbro
Mattel
Liabilities:
Current liabilities
$2,742,000
$4,818,000
Long-term debt
1,476,000
1,912,000
Other liabilities
_
918,000
Total liabilities
$4,218,000
$7,648,000
Shareholders' equity:
Common stock
$191,000
$860,000
Additional paid in capital
591,000
3,155,000
Retained earnings
3,675,000
3,251,000
Accumulated other...
Stockholders’ Equity: Transactions and Balance Sheet Presentation The stockholders’ equity of Summit Corporation at January 1...
Stockholders’ Equity: Transactions and Balance Sheet
Presentation
The stockholders’ equity of Summit Corporation at January 1
follows:
7 Percent preferred stock, $100 par value, 20,000 shares
authorized;
5,000 shares issued and outstanding
$500,000
Common stock, $15 par value, 100,000 shares authorized;
40,000 shares issued and outstanding
600,000
Paid-in capital in excess of par value-Preferred stock
24,000
Paid-in capital in excess of par value-Common stock
360,000
Retained earnings
325,000
Total Stockholders' Equity
$1,809,000
The following transactions, among others, occurred during the...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Why does a particular codon represent only one specific amino acid?
- Write a function template sort that takes two references to generic objects and switches them if...
- What 2 things happen to the melting point of a solid when an impurity is present?
- How Can Hominin Evolution be characterized as " mosaic evolution" Use examples of species from the...
- Absorption and Variable Costing Income Statements for Two Months and Analysis During the first month of...
- Mobile and wireless devices are being increasingly used in the Business Administration and Management Industry. write...
- What are the options that might be considered in relation to introducing flexible work practices? What...
ADVERTISEMENT