Question

Joanne's Steakhouse is the largest upscale steakhouse company in the United States, based on total company-...

Joanne's Steakhouse is the largest upscale steakhouse company in the United States, based on total company- and franchisee-owned restaurants. The company's menu features a broad selection of high-quality USDA prime steaks and other premium offerings. Select information from the company's annual report is shown below:

a. Common stock, $0.01 par value, 100,050,000 shares authorized, 23,235,356 issued and outstanding at December 31, 2014; 23,393,356 issued and outstanding at December 31, 2013.

b. Additional paid-in capital: $177,431,000 at the end of 2014 and $172,389,000 at the end of 2013.

c. Accumulated deficit : $80,997,000 at the end of 2013.

d. In 2014, net income was $54,083,000 and a cash dividend of $7,138,000 was paid.

Required:

Prepare the stockholders' equity section of the balance sheet at December 31, 2014, using this select information. (Amounts to be deducted should be indicated with a minus sign.)

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Which of the following journal entries will record the payment of a $675 accounts payable originally...
Which of the following journal entries will record the payment of a $675 accounts payable originally incurred for Office Supplies? Select one: A. Debit Office Supplies; credit Accounts Payable B. Debit Accounts Payable; credit Cash C. Debit Office Supplies; credit Cash D. Debit Cash; credit Accounts Payable On the last day of December 2013, Tom's Trucks entered into a transaction that resulted in a receipt of $108,000 cash in advance related to services that will be provided during January 2014....
The Scooter Warehouse provided the following information at December 31, 2013:   Bank Reconciliation   General ledger cash...
The Scooter Warehouse provided the following information at December 31, 2013:   Bank Reconciliation   General ledger cash        balance, 12/31/13 $ 17,566   Bank statement balance,        12/31/13 $ 16,306   Bank service charge (25 )   Deposits in transit 2,450   Returned customer checks        marked NSF (375 )   Outstanding checks (1,356 )   Error in recording of office      supplies 234   Adjusted cash balance,       12/31/13 $ 17,400   Adjusted cash balance,       12/31/13 $ 17,400 Investment in securities The company invested $26,000 in a portfolio of investment in securities on...
[The following information applies to the questions displayed below.] Blue Skies Equipment Company uses the aging...
[The following information applies to the questions displayed below.] Blue Skies Equipment Company uses the aging approach to estimate bad debt expense at the end of each accounting year. Credit sales occur frequently on terms n/60. The balance of each account receivable is aged on the basis of three time periods as follows: (1) not yet due, (2) up to one year past due, and (3) more than one year past due. Experience has shown that for each age group,...
My instructor says that Total Stockholder's Equity shoudl be 6,088,000. Where is this problem wrong? The...
My instructor says that Total Stockholder's Equity shoudl be 6,088,000. Where is this problem wrong? The question was Penn Company was formed on July 1, 2012. It was authorized to issue 300,000 shares of $10 par value common stock....... This question is already posted with the information but the answer had 270,700 for Total stockholders' equity and it should be 6,088,000. My question is where is the mistake at? home / study / business / accounting / accounting questions and...
Swifty Company reported the following amounts in the stockholders’ equity section of its December 31, 2019,...
Swifty Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 10%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 Common stock, $5 par (93,000 shares authorized, 18,600 shares issued) 93,000 Additional paid-in capital 130,000 Retained earnings 467,000    Total $870,000 During 2020, Swifty took part in the following transactions concerning stockholders’ equity. 1. Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend...
Wells Fargo & Company, headquartered in San Francisco, is one of the nation’s largest financial institutions....
Wells Fargo & Company, headquartered in San Francisco, is one of the nation’s largest financial institutions. Suppose it reported the following selected accounts (in millions) as of December 31, 2022. Retained Earnings $40,300 Preferred Stock 8,150 Common Stock—$1 2/3 par value, authorized 6,000,000,000 shares; issued 5,019,000,000 shares 8,365 Treasury Stock—67,346,829 common shares (2,330 ) Paid-in Capital in Excess of Par Value—Common Stock 52,300 Accumulated Other Comprehensive Income 8,215 Prepare the stockholders’ equity section of the balance sheet for Wells Fargo...
Required information [The following information applies to the questions displayed below.] Pastina Company sells various types...
Required information [The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's fiscal year-end is December 31. The unadjusted trial balance as of December 31, 2018, appears below.     Account Title Debits Credits Cash 45,300 Accounts receivable 59,000 Supplies 1,900 Inventory 78,000 Note receivable 30,300 Interest receivable 0 Prepaid rent 2,800 Prepaid insurance 0 Office equipment 96,000 Accumulated depreciation—office equipment 36,000 Accounts payable 38,000 Salaries...
Annapolis Company purchased a $2,000, 7%, 9-year bond at 99 and held it to maturity. The...
Annapolis Company purchased a $2,000, 7%, 9-year bond at 99 and held it to maturity. The straight line method of amortization is used for both premiums & discounts. What is the net cash received over the life of the bond investment? (all money received minus all money paid, round to nearest whole dollar) Ocean Pines Company had net income $475,000. They also had depreciation expense of $200,000, an increase or (decrease) in accounts receivable of $-30,000, and an increase or...
P11-10 (Static) Preparing the Stockholders’ Equity Section of the Balance Sheet and Evaluating Dividend Policy LO-11-1,11-3,11-4,11-5,...
P11-10 (Static) Preparing the Stockholders’ Equity Section of the Balance Sheet and Evaluating Dividend Policy LO-11-1,11-3,11-4,11-5, 11-7 The following information was extracted from the records of Cascade Company at the end of the fiscal year after all adjusting entries were completed: Common stock ($0.01 par value; 200,000 shares authorized, 54,000 shares issued, 52,000 shares outstanding) $ 540 Additional paid-in capital 456,000 Dividends declared and paid during the year 22,000 Retained earnings at the end of the year 312,000 Treasury stock...
The following events occurred in April for Main Squeeze. You put $3,000 cash into the company...
The following events occurred in April for Main Squeeze. You put $3,000 cash into the company and signed over your car (with a value of $5,000). In exchange the company issued 8,000 shares to you. Purchased a lemonade stand/trailer paying $600 cash on signing and financing the remainder with a loan over 5 years. The stand's purchase price is $6,000. Entered into a 5-year seasonal lease for prime boardwalk space with the city of saint john. Payments are $500 monthly...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT