The
following data were taken from the balance sheet accounts of Culver
Corporation on December 31,...
The
following data were taken from the balance sheet accounts of Culver
Corporation on December 31, 2016.
Current Assets $575000
Debt Investments. 567000
Commom Stock (par value $10) 535000
Paid in Capital in excess of par 139000
Retained Earnings 802000
Prepare the required journal entries for the following
unrelated items.
a. A 5% stock dividend is 1 declared and 2 distributed at a
time when the market price per share is $39.
b. The par value of the common stock...
The following data were taken from the balance sheet accounts of
Culver Corporation on December 31,...
The following data were taken from the balance sheet accounts of
Culver Corporation on December 31, 2019.
Current assets
$550,000
Debt investments (trading)
685,000
Common stock (par value $10)
503,000
Paid-in capital in excess of par
145,000
Retained earnings
861,000
Prepare the required journal entries for the following unrelated
items. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter 0 for...
Included in the December 31, 2015, Jacobi Company
balance sheet was the following shareholders’ equity
section:...
Included in the December 31, 2015, Jacobi Company
balance sheet was the following shareholders’ equity
section:
Jacobi Company Balance Sheet (Shareholders' Equity)
December 31, 2015
1 Contributed Capital:
2 Preferred stock, 6%, $100 par $200,000.00
3 Additional paid-in capital on preferred stock
12,000.00 $212,000.00
4 Common stock, $5 par $150,000.00
5 Additional paid-in capital on common stock
240,000.00 390,000.00
6 Total contributed capital $602,000.00
7 Retained earnings 627,000.00
8 Accumulated other comprehensive income
(loss):
9 Unrealized decrease in value of...
included in the December 31, 2015, Jacobi Company balance sheet
was the following shareholders’ equity section:...
included in the December 31, 2015, Jacobi Company balance sheet
was the following shareholders’ equity section: Jacobi Company
Balance Sheet (Shareholders' Equity) December 31, 2015 1
Contributed Capital: 2 Preferred stock, 6%, $100 par $200,000.00 3
Additional paid-in capital on preferred stock 12,000.00 $212,000.00
4 Common stock, $5 par $150,000.00 5 Additional paid-in capital on
common stock 240,000.00 390,000.00 6 Total contributed capital
$602,000.00 7 Retained earnings 627,000.00 8 Accumulated other
comprehensive income (loss): 9 Unrealized decrease in value of...
On January 1, 2018,
Gerlach Inc. had the following account balances in its
shareholders' equity accounts....
On January 1, 2018,
Gerlach Inc. had the following account balances in its
shareholders' equity accounts.
Common stock, $1 par, 257,000 shares issued
257,000
Paid-in capital
- excess of par, common
514,000
Paid-in capital
- excess of par, preferred
135,000
Preferred stock,
$100 par, 13,500 shares outstanding
1,350,000
Retained
earnings
2,700,000
Treasury stock,
at cost, 5,700 shares
28,500
During 2018, Gerlach Inc. had several transactions relating to
common stock.
January
15:
Declared a property
dividend of 100,000 shares of Slowdown...
On January 1, Pharoah Corporation had 97,500 shares of no-par
common stock issued and outstanding. The...
On January 1, Pharoah Corporation had 97,500 shares of no-par
common stock issued and outstanding. The stock has a stated value
of $6 per share. During the year, the following occurred.
Apr.
1
Issued 23,000 additional shares of common stock for $17 per
share.
June
15
Declared a cash dividend of $1 per share to stockholders of
record on June 30.
July
10
Paid the $1 cash dividend.
Dec.
1
Issued 1,500 additional shares of common stock for $19 per...
On October 31, the stockholders’ equity section of Pharoah
Company’s balance sheet consists of common stock...
On October 31, the stockholders’ equity section of Pharoah
Company’s balance sheet consists of common stock $680,000 and
retained earnings $395,000. Pharoah is considering the following
two courses of action:
(1)
Declaring a 5% stock dividend
on the 85,000 $8 par value shares outstanding
(2)
Effecting a 2-for-1 stock
split that will reduce par value to $4 per share.
The current market price is $13 per share.
Prepare a tabular summary of the effects of the alternative actions
on the...
The
stockholders equity accounts of Pronghorn Company have the
following balances on December 31, 2017.
Common...
The
stockholders equity accounts of Pronghorn Company have the
following balances on December 31, 2017.
Common Stock $10 par 310000 shares issued and outstanding
3100000
Paid in Capital in excess of par common stock 1190000
Retained Earnings 5160000
Shares of Pronghorn Company stock are currently selling on the
Midwest Stock Exchange at $41
a.
A stock dividend of 7% is 1 declared and 2 issued
b.
A stock dividend of 100% is 1 declared and 2 issued.
c.
A 2...
The following are Marin Corp.’s comparative balance sheet
accounts at December 31, 2017 and 2016, with...
The following are Marin Corp.’s comparative balance sheet
accounts at December 31, 2017 and 2016, with a column showing the
increase (decrease) from 2016 to 2017.
COMPARATIVE BALANCE SHEETS
2017
2016
Increase
(Decrease)
Cash
$813,400
$705,900
$107,500
Accounts receivable
1,123,400
1,156,600
(33,200
)
Inventory
1,863,500
1,731,800
131,700
Property, plant, and equipment
3,302,300
2,988,100
314,200
Accumulated depreciation
(1,162,900
)
(1,033,700
)
(129,200
)
Investment in Myers Co.
307,100
276,600
30,500
Loan receivable
252,200
—
252,200
Total assets
$6,499,000
$5,825,300
$673,700
Accounts...