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...
1- The following data were taken from the balance sheet accounts
of Pharoah Corporation on December...
1- The following data were taken from the balance sheet accounts
of Pharoah Corporation on December 31, 2016. Current assets
$520,000 Debt investments 567,000 Common stock (par value $10)
507,000 Paid-in capital in excess of par 135,000 Retained earnings
797,000 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 $45.
(b)
The par value of the common stock...
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...
On January 1, 2017, Culver Corporation had these stockholders’
equity accounts.
Common Stock ($10 par value,...
On January 1, 2017, Culver Corporation had these stockholders’
equity accounts.
Common Stock ($10 par value, 81,500
shares issued and outstanding)
$815,000
Paid-in Capital in Excess of Par
Value
483,000
Retained Earnings
620,000
During the year, the following transactions occurred.
Jan.
15
Declared a $0.70 cash dividend per
share to stockholders of record on January 31, payable February
15.
Feb.
15
Paid the dividend declared in
January.
Apr.
15
Declared a 10% stock dividend to
stockholders of record on April...
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...
Culver Company has the following stockholders’ equity accounts
at December 31, 2017.
Common Stock ($100 par...
Culver Company has the following stockholders’ equity accounts
at December 31, 2017.
Common Stock ($100 par value, authorized 8,400 shares)
$500,000
Retained Earnings
281,200
(1)
270 shares of outstanding stock were purchased at $97 per share.
(These are to be accounted for using the cost method.)
(2)
A $20 per share cash dividend was declared.
(3)
The dividend declared in (2) above was paid.
(4)
The treasury shares purchased in (1) above were resold at $103
per share.
(5)
480...
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, 2018, Fascom had the following account balances in
its shareholders' equity accounts.
Common...
On January 1, 2018, Fascom had the following account balances in
its shareholders' equity accounts.
Common stock, $1 par, 250,000 shares issued 250,000
Paid-in capital—excess of par, common 500,000
Paid-in capital—excess of par, preferred 100,000
Preferred stock, $100 par, 10,000 shares outstanding
1,000,000
Retained earnings 2,000,000
Treasury stock, at cost, 5,000 shares 25,000
During 2018, Fascom Inc. had several transactions relating to
common stock.
1. January 15: Declared a property dividend of 100,000 shares of
Slowdown Company (book value $10...
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...