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...
On January 1, 2018, Walker Corporation had the following account
balances:
Common stock, $1 par, 250,000...
On January 1, 2018, Walker Corporation had the following account
balances:
Common stock, $1 par, 250,000 shares issues 250,000
Paid-in-capital - excess of par, common 500,000
Preferred stock, $100 par, 10,000 shares outstanding
1,000,000
Paid-in-capital - excess of par, preferred 100,000
Retained Earnings 2,000,000
Treasury stock, at cost, 5,000 shares 25,000
During 2018, the following transactions occurred relating to
common stock:
1/15/18 - Declared a property dividend of 100,000 shares of
Wagner Company (book value $10 per share; fair value...
Changes in Shareholders' Equity On January 1, 2016, the Osgood
Film Studios reported the following alphabetical...
Changes in Shareholders' Equity On January 1, 2016, the Osgood
Film Studios reported the following alphabetical list of
shareholders' equity items: Additional paid-in capital on common
stock $158,950 Additional paid-in capital on preferred stock 19,400
Common stock, $2 par 74,800 Preferred stock, $100 par 97,000
Retained earnings 238,000
During 2016, the company sold 2,700 shares of common stock for
$14 per share and 250 shares of preferred stock for $129 per share.
It also earned income of $81,000 and paid...
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...
Exercise 11-12
The stockholders’ equity accounts of Blossom Company on January
1, 2022, were as follows....
Exercise 11-12
The stockholders’ equity accounts of Blossom Company on January
1, 2022, were as follows.
Preferred Stock (9%, $100 par noncumulative, 5,000 shares
authorized)
$475,000
Common Stock ($10 stated value, 800,000 shares authorized)
1,560,000
Paid-in Capital in Excess of Par Value—Preferred Stock
56,000
Paid-in Capital in Excess of Stated Value —Common Stock
820,000
Retained Earnings
760,000
Treasury Stock (8,300 common shares)
66,400
During 2022, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Mar
1...
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...
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...
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...