In late 2015, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 4,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2016, 2,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $20 per share.
|
Prepare the shareholders' equity section of the Nicklaus balance
sheet as of March 31, 2016. (Assume net income for the first
quarter 2016 was $1,200,000.) |
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| Part B | |
| During 2016, the Nicklaus Corporation participated in three treasury stock transactions: |
| a. | On June 30, 2016, the corporation reacquires 130,000 shares for the treasury at a price of $12 per share. |
| b. | On July 31, 2016, 15,000 treasury shares are reissued at $15 per share. |
| c. | On September 30, 2016, 15,000 treasury shares are reissued at $10 per share. |
| Required: |
| 1. |
Prepare journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) |
| 2. |
Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2016. (Assume net income for the second and third quarter was $2,650,000.) |
| Part C |
|
On October 1, 2016, Nicklaus Corporation receives permission to replace its $1 par value common stock (4,000,000 shares authorized, 2,000,000 shares issued, and 1,900,000 shares outstanding) with a new common stock issue having a $.50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is, the shareholders will receive two shares of the $.50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation. |
|
On November 1, 2016, the Nicklaus Corporation declares a $0.07 per share cash dividend on common stock and a $0.23 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2016, to shareholders of record on November 15, 2016. |
|
On December 2, 2016, the Nicklaus Corporation declares a 1% stock dividend payable on December 28, 2016, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 38,000 (0.01 × 3,800,000) additional shares being issued to shareholders. |
| Required: |
| 1. |
Prepare journal entries to record the declaration and payment of these stock and cash dividends. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) |
| 2. |
Prepare the December 31, 2016, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,150,000.) |
| 3. |
Prepare a statement of shareholders' equity for Nicklaus Corporation for 2016. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) |
In: Accounting
1. Many were concerned about the operation of the infamous BCCI, the international banking institution. If the government had desired to probe into the details, would this investigation have called for: a) A causal or correlational study? Why? b) A exploratory, descriptive, or hypothesis‐testing study or case analysis? Why? c) A field study, lab experiment, or field experiment? Why? d) A cross‐sectional or longitudinal study? Why?
In: Economics
A) In the laboratory, a general chemistry student measured the
pH of a 0.566 M aqueous solution of
triethylamine,
(C2H5)3N to be
12.221.
Use the information she obtained to determine the Kb for
this base.
Kb(experiment) = ___
B) In the laboratory, a general chemistry student measured the pH of a 0.566 M aqueous solution of quinoline, C9H7N to be 9.262.
Use the information she obtained to determine the Kb for
this base.
Kb(experiment) = ___
In: Chemistry
Radiolabeled NADH was added to cell extracts containing actively respiring mitochondria. After a short
incubation period, mitochondria were isolated by subcellular fractionation using density gradient
centrifugation and analyzed for radioactivity. In one experiment, tritium labelled NADH (3H-NADH) was used.
14C-NADH was used in a second experiment. Radioactivity was associated with mitochondria in only one of
these experiments. Which one? Explain.
In: Biology
Some lizards have the innate ability to change color, how would this affect the experiment?
Group of answer choices
It would invalidate the entire experiment.
No effect, if measured in their native habitat.
The ability to change color or not change color would constitute excellent groups, but color changing by itself and without other data would not allow one to conclude anything.
No effect, if measured on a standard background.
In: Biology
Consider the following reaction at 309 K. 1 A + 1 B → C + D where rate = rate=k[A]2[B]. An experiment was performed for a certain number of seconds where [A]o = 1.07 M and [B]o = 0.000167 M. A plot of ln[B] vs time had a slope of -9.63. What will the rate of this reaction be if a new experiment is preformed when [A] = [B] = 0.212 M?
In: Chemistry
In a neutron scattering experiment, a neutron scatters off the stationary nucleus of an atom with an atomic mass of 61 amu in a 1 dimensional, elastic collision. After the collision, what percentage of the neutron's kinetic energy was transferred to the atom? In a second neutron absorbtion experiment, a neutron is absorbed into the nucleus of an atom with an atomic mass of 62 amu. After the collision, what percentage of the neutron's kinetic energy was remains?
In: Physics
In: Biology
Generate your own example of an experiment researching the effects of Prozac on the symptoms of depression. First, generate a hypothesis. Next, state the independent and dependent variables. Also, specify how participants will be assigned to the treatment and control groups while also discussing how the experiment will be controlled. In addition discuss at least three rules of ethics that psychologists must follow to maintain the safety, well-being, and dignity of their participants.
In: Psychology
Clearly explain what it means for a set of events to form a partition of a sample space.
Give an example of a random experiment which has a sample space for which you can define five events which together form a partition. Clearly state your choice of experiment, the resulting sample space and the five events which form the partition. State any assumptions you have made.
In: Math