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PLEASE ANSWER THEM ALL AND SHOW YOUR WORK. THANKS. The stockholders' equity section on the December...

PLEASE ANSWER THEM ALL AND SHOW YOUR WORK. THANKS.

The stockholders' equity section on the December 31 balance sheet of Hadley Corporation reported the following amounts:

Preferred Stock (par $50; authorized 10,000 shares, ? issued

348,000

Additional Paid-in Capital, Preferred

22,100

Common Stock (no-par; authorized 20,000 shares, issued and outstanding 5,300 shares)

78,114

Retained Earnings

158,061

Treasury Stock, 1,000 Preferred shares at cost

53,054


What is the total stockholders' equity for Hadley Corporation?

======================

Emma Systems, Inc. declared and issued a 12 percent stock dividend. The company has 720,000 shares authorized and 32,818 outstanding. The par value of the stock is $0.9 per share and the market value is $8 per share.

To record the stock dividend, the debit to Retained Earnings would be $_______

========================

Ava Consulting issued 800 shares of previously unissued common stock with a par value of $3. The selling price for the stock was $5 per share.

The credit to Additional Paid in Capital - Common Stock would be $_________

===============================


Emma Consulting had previously purchased 3,260 shares of treasury stock for $5 per share. Emma then sold 1,241 shares of the treasury stock for $14 per share.

The credit to treasury stock to record the sale would be $_________

Business   Accounting   
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Homework Answers

Answer #1

a) Total Stockholder's equity

Preferred Stock (par $50; authorized 10,000 shares, ? issued 348000
Additional Paid-in Capital, Preferred 22100
Common Stock (no-par; authorized 20,000 shares, issued and outstanding 5,300 shares) 78114
Total paid in capital 448214
Retained Earnings 158061
Total 606275
Less: Treasury Stock, 1,000 Preferred shares at cost -53054
Total Stockholder's equity 553221

b) To record the stock dividend, the debit to Retained Earnings would be (32818*12%*8) = $31505.28

Or u can try (32818*12%) = 3938*8 = $31504

c) The credit to Additional Paid in Capital - Common Stock would be (5-3)*800 = $1600

d) The credit to treasury stock to record the sale would be 1241*5 = $6205

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