Question
Common Stock Issuance, No Par Value, Stock Split, Disclosure. The stockholders’ equity section of Five Voices...
Common Stock Issuance, No Par Value, Stock Split, Disclosure. The stockholders’ equity section of Five Voices Music, Inc.’s balance sheet at December 31, 2017, follows: Stockholders’ Equity Common Stock – no par, 10,000 shares authorized, 1,000 shares issued and outstanding Retained Earnings Total Stockholders’ Equity During 2018, Five Voices Music completed the following transactions: • May 24: Issued 200 no-par common shares for cash amounting to $16,000. • December 1: Implemented a 2-for-1 stock split. • December 31: Announced net income of $50,000 for the year ended December 31, 2018. Based on the information provided, prepare the stockholders’ equity section for Five Voices Music at Decem-ber 31, 2018
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
On December 31, 2017, the stockholders' equity section of Arndt, Inc., was as follows: Common stock,...
On December 31, 2017, the stockholders' equity section of Arndt,
Inc., was as follows: Common stock, par value $10; authorized
30,000 shares; issued and outstanding 9,000 shares $ 90,000
Additional paid-in capital 116,000 Retained earnings 194,000 Total
stockholders' equity $400,000 On March 31, 2018, Arndt declared a
15% stock dividend, and accordingly 1,350 additional shares were
issued, when the fair value of the stock was $20 per share. For the
three months ended March 31, 2018, Arndt recorded a net...
On December 31, 2020, the stockholders’ equity section of Campbell, Inc., was as follows: Common stock,...
On December 31, 2020, the stockholders’ equity section of
Campbell, Inc., was as follows:
Common stock, par value $10: authorized 30,000
shares;
issued and outstanding 15,000 shares
Additional paid-in-capital $110,000
Retained earnings 200,000
On September 1, 2021, Campbell declared a 30% stock
dividend, and accordingly issued additional shares, when the far
value of the stock was $18 per share. For the year ended December
31, 2021, Campbell sustained a net loss of $50,000. The balance of
Campbell’s retained earnings as...
On December 31, 2020, the stockholders’ equity section of Campbell, Inc., was as follows: Common stock,...
On December 31, 2020, the stockholders’ equity section
of Campbell, Inc., was as follows:
Common stock, par value $10:
authorized 30,000 shares;
issued and outstanding 15,000
shares
Additional
paid-in-capital
$110,000
Retained
earnings
200,000
On September 1, 2021, Campbell
declared a 30% stock dividend, and accordingly issued additional
shares, when the far value of the stock was $18 per share. For the
year ended December 31, 2021, Campbell sustained a net loss of
$50,000. The balance of Campbell’s retained earnings as...
Presented below if the stockholders’ equity section of Blue Corporation at December 31, 2020: Common stock,...
Presented below if the stockholders’ equity section of
Blue Corporation at December 31, 2020:
Common stock, par value $20; authorized 75,000 shares;
issued and outstanding 45,000 shares $900,000
Paid-in-capital in excess of par value
350,000
Retained earnings 500,000
During 2021, the following transactions occurred related
to stockholder’ equity:
3,000 shares were reacquired at $28 per
share.
3,000 shares were reacquired at $35 per
share.
3,200 shares of treasury stock were sold at $30 per
share.
For the year ended December...
The stockholders' equity section of the balance sheet of Crammond Corporation at December 31, appears as...
The stockholders' equity section of the balance sheet of
Crammond Corporation at December 31, appears as follows:
Stockholders' Equity
$2 preferred stock, $100 par, 10,000 shares authorized
$
670,000
Common stock, $1 par, 100,000 shares authorized
72,000
Additional Paid-in Capital:
From issuance of preferred stock
165,000
From issuance of common stock
710,000
Total paid-in capital
1,617,000
Retained earnings
835,000
Total Stockholders' equity
$
2,452,000
How many shares of common stock are outstanding?
110,000.
100,000.
72,000.
77,000.
Monty Company reported the following amounts in the stockholders’ equity section of its December 31, 2016,...
Monty Company reported the following amounts in the
stockholders’ equity section of its December 31, 2016, balance
sheet.
Preferred stock, 10%, $100 par (10,000 shares authorized, 1,800
shares issued)
$180,000
Common stock, $5 par (103,500 shares authorized, 20,700 shares
issued)
103,500
Additional paid-in capital
114,000
Retained earnings
423,000
Total
$820,500
Prepare the December 31, 2017, stockholders’ equity section.
Assume 2017 net income was $336,000.
The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, 2018,...
The stockholders’ equity section of the balance sheet for Mann
Equipment Co. at December 31, 2018, is as follows.
Stockholders’ Equity
Paid-in capital
Preferred stock,? par value, 4%
cumulative,
270,000 shares authorized,
57,000 shares issued and outstanding
$
570,000
Common stock, $25 stated value,
320,000 shares authorized, 57,000?? shares issued and
outstanding
1,425,000
Paid-in capital in excess of
par—Preferred
47,000
Paid-in capital in excess of
stated value—Common
114,000
Total paid-in capital
2,156,000
Retained earnings
420,000
Treasury stock, 6,000
shares
(42,000...
I NEED TO SEE CALCULCULATOIN AND PROCESSES TO STUDY FOR IT. The stockholders' equity section of...
I NEED TO SEE CALCULCULATOIN AND PROCESSES TO STUDY FOR
IT.
The stockholders' equity section of ABC Company shows the
following on December 31, 2017:
Preferred stock—6%, $100 par, 5,000 shares outstanding
$ 500,000
Common stock—$10 par, 60,000 shares
outstanding
600,000
Paid-in capital in excess of par
200,000
Retained
earnings
118,000
Total stockholders'
equity
$1,418,000
During fiscal year 2018, the following activity occurred:
Net income was...
The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year...
The stockholders’ equity section of the balance sheet for Mann
Equipment Co. at December 31, Year 1, is as follows:
Stockholders’ Equity
Paid-in capital
Preferred stock, ? par value, 5% cumulative,
140,000 shares authorized, 44,000 shares issued and
outstanding
$
440,000
Common stock, $20 stated value, 190,000 shares
authorized, 44,000 shares issued and outstanding
880,000
Paid-in capital in excess of par—Preferred
34,000
Paid-in capital in excess of stated value—Common
66,000
Total paid-in capital
1,420,000
Retained earnings
290,000
Total stockholders’ equity...
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...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 2 minutes ago
asked 31 minutes ago
asked 42 minutes ago
asked 47 minutes ago
asked 56 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 2 hours ago