Entries for Treasury Stock
On May 27, Mama Mia Inc. reacquired 7,700 shares of its common...
Entries for Treasury Stock
On May 27, Mama Mia Inc. reacquired 7,700 shares of its common
stock at $39 per share. On August 3, Mama Mia sold 3,500 of the
reacquired shares at $42 per share. November 14, Mama Mia sold the
remaining shares at $38 per share.
Journalize the transactions of May 27, August 3, and November
14. For a compound transaction, if an amount box does not require
an entry, leave it blank.
May 27
Treasury Stock
Cash...
Reporting Stockholders' Equity
Using the following accounts and balances, prepare the
Stockholders' Equity section of the...
Reporting Stockholders' Equity
Using the following accounts and balances, prepare the
Stockholders' Equity section of the balance sheet using Method 1 of
Exhibit 8. 40,000 shares of common stock authorized, and 2,000
shares have been reacquired.
Common Stock, $30 par $960,000
Paid-In Capital from Sale of Treasury Stock 38,000
Paid-In Capital in Excess of Par—Common Stock
256,000
Retained Earnings 557,000
Treasury Stock 24,000
Stockholders' Equity
Paid-In Capital:
Common Stock, $30 Par $960,000
Excess over par _________
Paid-in...
Using the following accounts and balances, prepare the
Stockholders' Equity section of the balance sheet using...
Using the following accounts and balances, prepare the
Stockholders' Equity section of the balance sheet using Method 1 of
Exhibit 8. 20,000 shares of common stock authorized, and 10,000
shares have been reacquired.
Common Stock, $70 par
$1,120,000
Paid-In Capital from Sale of Treasury Stock
56,000
Paid-In Capital in Excess of Par—Common Stock
384,000
Retained Earnings
594,000
Treasury Stock
38,000
Stockholders' Equity
Paid-In Capital:
Common Stock, $70 Par
$
Cash
Paid-in capital, common
stock
$
From Sale of Treasury
Stock...
Stockholders' Equity Section of Balance Sheet
The following accounts and their balances appear in the ledger...
Stockholders' Equity Section of Balance Sheet
The following accounts and their balances appear in the ledger
of Goodale Properties Inc. on June 30 of the current year:
Common Stock, $15 par
$796,500
Paid-In Capital from Sale of Treasury Stock
32,700
Paid-In Capital in Excess of Par—Common Stock
21,240
Retained Earnings
1,250,000
Treasury Stock
16,435
Prepare the Stockholders’ Equity section of the balance sheet as
of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of
common stock are...
On December 31, Westworld Inc. has the following equity accounts
and balances: Retained Earnings, $45,000; Common...
On December 31, Westworld Inc. has the following equity accounts
and balances: Retained Earnings, $45,000; Common Stock, $1,000;
Treasury Stock, $2,000; Paid-In Capital in Excess of Par Value,
Common Stock, $39,000; Preferred Stock, $7,000; and Paid-In Capital
in Excess of Par Value, Preferred Stock, $3,000.
Prepare the stockholders’ equity section of Westworld’s balance
sheet. (Negative amount(s) should be indicated by a minus
sign.)
Common stock
$1 Par
Add. Paid in Cap
Retained
Earnings
Treasury
Stock
Total Share-
Holders Equity...
Common stock
$1 Par
Add. Paid in Cap
Retained
Earnings
Treasury
Stock
Total Share-
Holders Equity
Bal. 1/1/2015
354,000
10,415,000
2,761,044
-
13,530,044
Common Shares
370,000
12,210,000
Shares Repurchase
(83,500 shares)
(1,670,000)
Cash Dividends
(50,000)
Net Income
2,696,789
Bal. 12/31/2015
724,000
22,625,000
5,407,833
(1,670,000)
27,086,833
Cash Dividend Comm Stock
(75,000)
Stock div 5 for 4
181,000
(181,000)
Net Income
3,805,617
Bal. 12/31/216
905,000
22,625,000
8,957,450
(1,670,000)
31,817,450
Requirement 1: Use Journal Entries to establish
beginning balances for each of the...
Using the following accounts and balances, prepare the
stockholders' equity section of the balance sheet. Fifty...
Using the following accounts and balances, prepare the
stockholders' equity section of the balance sheet. Fifty thousand
shares of common stock are authorized, and 2,000 shares have been
reacquired.
Common Stock, $40 par
$1,320,000
Paid-In Capital in Excess of Par
204,040
Paid-In Capital from Sale of Treasury Stock
6,040
Retained Earnings
125,000
Treasury Stock
4,540
Stockholders' Equity
Contributed capital:
Common stock, $40 par (50,000 shares authorized, 33,000
issued
$
Additional paid-in capital
Total contributed capital
$
Retained earnings
Total
$...
On October 1, Cullumber Corporation’s stockholders’ equity is as
follows.
Common stock, $5 par value
$376,000...
On October 1, Cullumber Corporation’s stockholders’ equity is as
follows.
Common stock, $5 par value
$376,000
Paid-in capital in excess of par—common stock
28,000
Retained earnings
154,000
Total stockholders’ equity
$558,000
On October 1, Cullumber declares and distributes a 10% stock
dividend when the market price of the stock is $14 per share.
Indicate the balances in the three stockholders’ equity accounts
after the stock dividend shares have been distributed. Please
explain how you calculated each.
Common stock: ________
Paid-in...
Reporting Paid-In Capital
The following accounts and their balances were selected from the
adjusted trial balance...
Reporting Paid-In Capital
The following accounts and their balances were selected from the
adjusted trial balance of Point Loma Group Inc., a freight
forwarder, at October 31, the end of the current fiscal year:
Common Stock, no par, $14 stated value
$1,260,000
Paid-In Capital from Sale of Treasury Stock
609,200
Paid-In Capital in Excess of Par—Preferred Stock
84,960
Paid-In Capital in Excess of Stated Value—Common Stock
3,024,000
Preferred 2% Stock, $120 par
708,000
Retained Earnings
7,506,000
Prepare the Paid-In Capital...
Reporting Stockholders' Equity Using the following accounts and
balances, prepare the Stockholders' Equity section of the...
Reporting Stockholders' Equity Using the following accounts and
balances, prepare the Stockholders' Equity section of the balance
sheet using Method 1 of Exhibit 8. 80,000 shares of common stock
authorized, and 2,000 shares have been reacquired. Common Stock,
$60 par $3,840,000 Paid-In Capital from Sale of Treasury Stock
154,000 Paid-In Capital in Excess of Par—Common Stock 1,408,000
Retained Earnings 2,266,000 Treasury Stock 94,000 Stockholders'
Equity Paid-In Capital: $ $ Total Paid-in Capital $ Total $ Total
Stockholders' Equity $