On January 1, 2015, Sigma Inc. had these stockholders’ equity
balances.
Common Stock, $1 par (3,000,000...
On January 1, 2015, Sigma Inc. had these stockholders’ equity
balances.
Common Stock, $1 par (3,000,000
shares authorized, 615,000 shares issued and outstanding)
$615,000
Paid-in Capital in Excess of Par
Value
1,410,000
Retained Earnings
690,000
Accumulated Other Comprehensive Income
60,000
During 2015, the following transactions and events
occurred.
1.
Issued 54,500 shares of $1 par
value common stock for $2 per share.
2.
Issued 55,500 shares of common
stock for cash at $6 per share.
3.
Purchased 19,600 shares of...
On January 1, 2022, Tamarisk, Inc. had these stockholders’
equity balances.
Common Stock, $1 par (2,900,000...
On January 1, 2022, Tamarisk, Inc. had these stockholders’
equity balances.
Common Stock, $1 par (2,900,000
shares authorized, 705,000 shares issued and outstanding)
$705,000
Paid-in Capital in Excess of Par
Value
1,530,000
Retained Earnings
694,000
Accumulated Other Comprehensive Income
53,000
During 2022, the following transactions and events
occurred.
1.
Issued 45,500 shares of $1 par
value common stock for $2 per share.
2.
Issued 65,000 shares of common
stock for cash at $3 per share.
3.
Purchased 21,600 shares of...
On January 1, 2022, Shamrock, Inc. had these stockholders’
equity balances.
Common Stock, $1 par (2,600,000...
On January 1, 2022, Shamrock, Inc. had these stockholders’
equity balances.
Common Stock, $1 par (2,600,000
shares authorized, 680,000 shares issued and outstanding)
$680,000
Paid-in Capital in Excess of Par
Value
1,480,000
Retained Earnings
694,000
Accumulated Other Comprehensive Income
58,000
During 2022, the following transactions and events
occurred.
1.
Issued 49,000 shares of $1 par
value common stock for $2 per share.
2.
Issued 63,000 shares of common
stock for cash at $3 per share.
3.
Purchased 16,500 shares of...
Statement of Shareholders' Equity
At the end of 2017, Jeffco Inc. had the following equity
accounts...
Statement of Shareholders' Equity
At the end of 2017, Jeffco Inc. had the following equity
accounts and balances:
Common shares, no par (175,000 shares issued and
outstanding)
$1,926,400
Retained earnings
310,000
During 2018, Jeffco engaged in the following transactions
involving its equity accounts:
Issued 8,000 common shares for $35 per share.
Issued 1,000 shares of 9%, $120 stated value preferred shares at
$125 per share.
Declared and paid cash dividends of $15,000.
Repurchased and cancelled 500 common shares for $52...
Monty Co. reports the following information for 2017: sales
revenue $778,900, cost of goods sold $515,500,...
Monty Co. reports the following information for 2017: sales
revenue $778,900, cost of goods sold $515,500, operating expenses
$89,100, and an unrealized holding loss on available-for-sale
securities for 2017 of $58,700. It declared and paid a cash
dividend of $12,690 in 2017. Monty Co. has January 1, 2017,
balances in common stock $355,000; accumulated other comprehensive
income $84,300; and retained earnings $92,170. It issued no stock
during 2017. Prepare a statement of stockholders’ equity. MONTY CO.
Statement of Stockholders’ Equity...
2021
2020
Number
of Shares
Amount
Number
of Shares
Amount
Common shares, unlimited authorized
Balance, January...
2021
2020
Number
of Shares
Amount
Number
of Shares
Amount
Common shares, unlimited authorized
Balance, January 1
440,000
$528,000
440,000
$528,000
Issued shares
for cash
44,000
28,500
0
Reacquired
shares
(22,000
)
(25,295
)
0
Balance, December 31
462,000
531,205
440,000
528,000
Contributed surplus—reacquisition of common shares
Balance, January 1
13,000
13,000
Reacquired
common shares
7,000
0
Balance, December 31
20,000
13,000
Retained earnings
Balance, January 1
158,000
167,000
Profit
(loss)
20,000
17,500
Common
dividends—Cash
(19,000
)
(26,500
)
Balance,...
Pharoah Co. reports the following information for 2017: sales
revenue $756,800, cost of goods sold $518,900,...
Pharoah Co. reports the following information for 2017: sales
revenue $756,800, cost of goods sold $518,900, operating expenses
$89,600, and an unrealized holding loss on available-for-sale
securities for 2017 of $54,400. It declared and paid a cash
dividend of $12,390 in 2017.
Pharoah Co. has January 1, 2017, balances in common stock $363,100;
accumulated other comprehensive income $88,700; and retained
earnings $91,090. It issued no stock during 2017.
Prepare a statement of stockholders’ equity.
total
retained earnings
Accumulated Other
Comprehensive...
4. Onyx Corporation had the following balances in its
stockholders' equity accounts at December 31, 2014:...
4. Onyx Corporation had the following balances in its
stockholders' equity accounts at December 31, 2014:
(25 Points)
Common Stock, $25 par, 100,000 shares authorized, 10,000 shares
issued
$250,000
Contributed Capital in Excess of Par Value, Common
125,000
Retained Earnings
450,000
Treasury Stock, 2,000 shares
(60,000)
Total stockholders’ equity
$765,000
The following transactions occurred during 2015:
April 30
Sold and issued 5,000 shares of common stock for $32 per
share.
June 11
Declared a $1.50 per share dividend on...
The shareholders' equity accounts of Grouper Inc. have
the following balances on December 31, 2020:
Common...
The shareholders' equity accounts of Grouper Inc. have
the following balances on December 31, 2020:
Common shares, 420,000 shares issued and outstanding $
9,240,000
Contributed surplus
500,000
Retained earnings
42,600,000
Common shares are currently trading on the Toronto Stock Exchange
at $51.
1. A stock dividend of 15% is declared and issued at the fair value
of the shares. Prepare the appropriate journal entries.
Account Titles and Explanation
Debit
Credit
(To record declaration of stock dividend)
(To record distribution of...
2017: sales revenue $777,100, cost of goods sold $520,000,
operating expenses $89,200, and an unrealized holding...
2017: sales revenue $777,100, cost of goods sold $520,000,
operating expenses $89,200, and an unrealized holding loss on
available-for-sale securities for 2017 of $53,700. It declared and
paid a cash dividend of $11,670 in 2017.
Barber Co. has January 1, 2017, balances in common stock $360,400;
accumulated other comprehensive income $86,000; and retained
earnings $92,040. It issued no stock during 2017.
Prepare a statement of stockholders’ equity.
Prepare a statement of stockholders’ equity.
Total
Retained Earnings
Income
Common Stock...