Question
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 common stock. |
|
September 22 |
Sold 200 shares of the treasury stock for $30 per share. |
|
December 31 |
Net income for the year was determined to be $55,000 |
Based on the above information, prepare a statement of
stockholders' equity for 2013. Use the form below.
|
ONYX CORPORATION Statement of Stockholders’ Equity |
|||||
|
Common Stock |
Contributed Capital in Excess of Par Value, Common |
Retained Earnings |
Treasury Stock |
Total |
|
|
Balance, December 31, 2014 |
|||||
|
Net income |
|||||
|
Balance, December 31, 2015 |
|||||
Please explain how you calculated the answers, thank you.
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