On January 1, Guillen Corporation had 95,000 shares of no-par
common stock issued and outstanding. The...
On January 1, Guillen Corporation had 95,000 shares of no-par
common stock issued and outstanding. The stock has a stated value
of $5 per share. During the year, the following occurred.
Apr.
1
Issued 25,000 additional shares of common stock for $17 per
share.
June
15
Declared a cash dividend of $1 per share to stockholders of
record on June 30.
July
10
Paid the $1 cash dividend.
Dec.
1
Issued 2,000 additional shares of common stock for $19 per...
On January 1, Blossom Corporation had 93,000 shares of no-par
common stock issued and outstanding. The...
On January 1, Blossom Corporation had 93,000 shares of no-par
common stock issued and outstanding. The stock has a stated value
of $7 per share. During the year, the following occurred. Apr. 1
Issued 30,000 additional shares of common stock for $16 per share.
June 15 Declared a cash dividend of $1 per share to stockholders of
record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued
1,500 additional shares of common stock for $19 per...
On January 1, Pharoah Corporation had 97,500 shares of no-par
common stock issued and outstanding. The...
On January 1, Pharoah Corporation had 97,500 shares of no-par
common stock issued and outstanding. The stock has a stated value
of $6 per share. During the year, the following occurred.
Apr.
1
Issued 23,000 additional shares of common stock for $17 per
share.
June
15
Declared a cash dividend of $1 per share to stockholders of
record on June 30.
July
10
Paid the $1 cash dividend.
Dec.
1
Issued 1,500 additional shares of common stock for $19 per...
1)Towson Corp., was organized on January 2, 2018. During
the first year of operation, Towson issued...
1)Towson Corp., was organized on January 2, 2018. During
the first year of operation, Towson issued 50,000 shares of $4 par
value common stock at a price of $45 cash per share. On
December 31, 2018, Towson reported Net Income of $250,000 and paid
$50,000 cash dividends. Use this information to determine the
dollar amounts that Towson will report on its year end Balance
Sheet for Paid in Capital Common Stock in Excess
of par.
2)Towson Corp., had 3,000 shares of...
On January 1, Ivanhoe Corporation had 90,000 shares of no-par
common stock issued and outstanding. The...
On January 1, Ivanhoe Corporation had 90,000 shares of no-par
common stock issued and outstanding. The stock has a stated value
of $5 per share. During the year, the following occurred. Apr. 1
Issued 25,000 additional shares of common stock for $17 per share.
June 15 Declared a cash dividend of $1 per share to stockholders of
record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued
2,500 additional shares of common stock for $20 per...
Refer to the following transactions:
1. Issued 540 shares of $80 par value preferred stock at...
Refer to the following transactions:
1. Issued 540 shares of $80 par value preferred stock at
par.
2. Issued 640 shares of $80 par value preferred stock in
exchange for land that had an appraised value of $81,600.
3. Issued 19,000 shares of $4 par value common stock for $10 per
share.
4. Purchased 4,750 shares of common stock for the treasury at
$10 per share.
5. Sold 1,900 shares of the treasury stock purchased in
transaction d for $12...
1,400,000 shares of no-par common stock were authorized;
327,000 shares were issued on January 1, 2016,...
1,400,000 shares of no-par common stock were authorized;
327,000 shares were issued on January 1, 2016, at $30 per
share.
426,000 shares of $90 par value, 10.00% cumulative, preferred
stock were authorized, and 130,000 shares were issued on January 1,
2016, at $133 per share.
Net income for the years ended December 31, 2016, 2017, and
2018, was $4,680,000, $7,040,000, and $9,160,000,
respectively.
No dividends were declared or paid during 2016 or 2017.
However, on December 17, 2018, the board...
On January 1, Ayayai Corp. had 61,000 shares of no-par common
stock issued and outstanding. The...
On January 1, Ayayai Corp. had 61,000 shares of no-par common
stock issued and outstanding. The stock has a stated value of $4
per share. During the year, the following transactions
occurred.
Apr. 1
Issued 9,450 additional shares of common stock for $11 per
share.
June 15
Declared a cash dividend of $1.50 per share to stockholders of
record on June 30.
July 10
Paid the $1.50 cash dividend.
Dec. 1
Issued 4,200 additional shares of common stock for $11...
On January 1, Guillen Corporation had 94,500 shares of no-par
common stock issued and outstanding. The...
On January 1, Guillen Corporation had 94,500 shares of no-par
common stock issued and outstanding. The stock has a stated value
of $6 per share. During the year, the following occurred. Apr. 1
Issued 23,000 additional shares of common stock for $16 per share.
June 15 Declared a cash dividend of $3 per share to stockholders of
record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued
3,000 additional shares of common stock for $19 per...
Use the following information to answer question 41 and 42. On
January 1, 2018, Tarow Corporation...
Use the following information to answer question 41 and 42. On
January 1, 2018, Tarow Corporation had 80,000 common shares,
recorded at $600,000, and retained earnings of $1,000,000. During
the year, the following transactions occurred:
Apr.
2
Issued 5,000 common shares at $20 per share.
June
15
Declared a cash dividend of $0.25 per share to common
shareholders of record on June 30, payable on July 10.
Aug.
21
Declared a 5% stock dividend to common shareholders of record on...