Please answer in text form without image Stockholders' EquityPaid-in capital:Preferred 10% stock, $50 par (2,000 shares authorizedand issued).Excess of issue price over par.....Paid-in capital, preferred stock.Common stock, $20 par (50,000 shares authorized,45,000 shares issued)..Excess of issue price over par..Paid-in capital, common stockTelex Inc.Balance SheetDecember 31, 2017From sale of treasury stock.Total paid-in capital...Retained earnings..TotalTreasury stock (600 shares at cost)..Total stockholders' equity..Use the Telex Information to complete the following questions:Preferred StockNumber of Shares AuthorizedNumber of Shares IssuedPar Value of Preferred StockTotal cash received from sale of Preferred StockMarket Price per share of Preferred StockCommon StockNumber of Shares AuthorizedNumber of Shares IssuedPar Value of Common StockTotal cash received from sale of Common StockMarket Price per share of Common Stock$100,00010,000$900,000190,000$ 110,0001,090,0002,000$1,202,000350,000$1,552,000(27,000)$1,525,000

According to the question given, we need to compute the blank figures in the table.Preferred stocks…

Stockholders' Equity Paid-in capital: Preferred 10% stock, $50 par (2,000 shares authorized and issued). Excess of issue price over par... Paid-in capital, preferred stock. Balance Sheet December 31, 2017 Common stock, $20 par (50,000 shares authorized, 45,000 shares issued).. Excess of issue price over par.. Paid-in capital, common stock. From sale of treasury stock.. Total paid-in capital Retained earnings.. Total Treasury stock (600 shares at cost).. Total stockholders' equity... ********** ***************** e the Telex Information to complete the following questions: Preferred Stock Number of Shares Authorized Number of Shares Issued Par Value of Preferred Stock Total cash received from sale of Preferred Stock Market Price per share of Preferred Stock Common Stock Number of Shares Authorized Number of Shares Issued Par Value of Common Stock Total cash received from sale of Common Stock Market Price per share of Common Stock $100,000 10,000 $900,000 190,000 $ 110,000 1,090,000 2,000 $1,202,000 350,000 $1,552,000 (27,000) $1,525,000

Stockholders' Equity Paid-in capital: Preferred 10% stock, $50 par (2,000 shares authorized and issued). Excess of issue price over par... Paid-in capital, preferred stock. Balance Sheet December 31, 2017 Common stock, $20 par (50,000 shares authorized, 45,000 shares issued).. Excess of issue price over par.. Paid-in capital, common stock. From sale of treasury stock.. Total paid-in capital Retained earnings.. Total Treasury stock (600 shares at cost).. Total stockholders' equity... ******* e the Telex Information to complete the following questions: Preferred Stock Number of Shares Authorized Number of Shares Issued Par Value of Preferred Stock Total cash received from sale of Preferred Stock Market Price per share of Preferred Stock Common Stock Number of Shares Authorized Number of Shares Issued Par Value of Common Stock Total cash received from sale of Common Stock Market Price per share of Common Stock $100,000 10,000 $900,000 190,000 $ 110,000 1,090,000 2,000 $1,202,000 350,000 $1,552,000 (27,000) $1,525,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 84PSB: Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following...

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Treasury Stock, Cost Method Bush-Caine Company reported the following data on its December 31, 2018, balance sheet: The following transactions were reported by the company during 2019: 1. Reacquired 200 shares of its preferred stock at 57 per share. 2. Reacquired 500 shares of its common stock at 16 per share. 3. Sold 100 shares of preferred treasury stock at 58 per share. 4. Sold 200 shares of common treasury stock at 17 per share. 5. Sold 100 shares of common treasury stock at 9 per share. 6. Retired the shares of common stock remaining in the treasury. The company maintains separate treasury stock accounts and related additional paid-in capital accounts for each class of stock. Required: 1. Prepare the journal entries required to record the treasury stock transactions using the cost method. 2. Assuming the company earned a net income in 2019 of 30.000 and declared and paid dividends of 10,000, prepare the shareholders equity section of its balance sheet at December 31, 2019.
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 0 par common stock at 0, receiving cash. b. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 375. The bonds are classified as a held- to-maturitv long-term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0.60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 545, including commission. p. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method, q. Accrued interest for three months on the Dream Inc. bonds purchased in (1). r. Pinkberry Co. recorded total earnings of 240,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39.02 per share on December 31, 2016. The investment is adjusted to fair value, using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments had a beginning balance of zero. Instructions Journalize the selected transactions. After all of the transactions for the year ended December 31, 2016, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step income statement for the year ended December 31, 2016, concluding with earnings per share. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. (Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 2016. c. Prepare a balance sheet in report form as of December 31, 2016. Income statement data: Advertising expense 150,000 Cost of merchandise sold 3,700,000 Delivery expense 30,000 Depreciation expense -office buildings and equipment 30,000 Depreciation expensestore buildings and equipment 100,000 Dividend revenue 4,500 Gain on sale of investment 4,980 Income from Pinkberry Co. investment 76,800 Income tax expense 140,500 Interest expense 21,000 Interest revenue 2,720 Miscellaneous administrative expense 7.500 Miscellaneous selling expense 14,000 Office rent expense 50,000 Office salaries expense 170,000 Office supplies expense 10,000 Sales 5,254,000 Sales commissions 185,000 Sales salaries expense 385,000 Store supplies expense 21,000 Retained earnings and balance sheet data: Accounts payable 194,300 Accounts receivable 545,000 Accumulated depreciationoffice buildings and equipment 1,580,000 Accumulated depreciationstore buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Available for sale investments (at cost) 260,130 Bonds payable. 5%. due 2024 500,000 Cash 246,000 Common stock, 20 par (400,000 shares authorized; 100,000 shares issued. 94,600 outstanding) 2,000,000 Dividends: Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Goodwill 500,000 Income tax payable 44,000 Interest receivable 1,125 Investment in Pinkberry Co. stock (equity method) 1,009,300 Investment in Dream Inc. bonds (long term) 90,000 Merchandise inventory [December 31, 2016). at lower of cost (FIFO) or market 778,000 Office buildings and equipment 4.320,000 Paid-in capital from sale of treasury stock 13,000 Excess of issue price over parcommon stock 886,800 Excess of issue price over parpreferred stock 150,000 Preferred 5% stock. 80 par (30,000 shares authorized; 20,000 shares issued] 1,600,000 Premium on bonds payable 19,000 Prepaid expenses 27,400 Retained earnings, January 1, 2016 9,319,725 Store buildings and equipment 12,560,000 Treasury stock (5,400 shares of common stock at cost of 33 per share) 178,200 Unrealized gain (loss) on available for sale investments (6,500) Valuation allowance for available for sale investments (6,500)
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 375. The bonds are classified as a heldtomaturity long-term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0.60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method. q. Accrued interest for three months on the Dream Inc. bonds purchased in (l). r. Pinkberry Co. recorded total earnings of 240,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39.02 per share on December 31, 2016. The investment is adjusted to fair value, using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments had a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transactions for the year ended December 31, 2016, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step income statement for the year ended December 31, 2016, concluding with earnings per share. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. (Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 2016. c. Prepare a balance sheet in report form as of December 31, 2016.
Calculating the Number of Shares Issued Castalia Inc. issued shares of its $0.80 par value common stock on September 4, 2019, for $8 per share. The Additional Paid-In Capital-Common Stock account was credited for 5612,000 in the journal entry to record this transaction. Required: How many shares were issued on September 4, 2019?
Contributed Capital Adams Companys records provide the following information on December 31, 2019: Additional information: 1. Common stock has a 5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a 100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at 120 per share. The stock pays an 8% dividend, is cumulative, and is callable at 130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Include appropriate parenthetical notes.
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Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following equity accounts and balances: During 2020, Stanley Utilities engaged in the following transactions involving its equity accounts: Sold 3,300 shares of common stock for $15 per share. Sold 1,000 shares of 12%, $100 par preferred stock at $105 per share. Declared and paid cash dividends of $8,000. Repurchased 1,000 shares of treasury stock (common) for $38 per share. Sold 400 of the treasury shares for $42 per share. Required: Prepare the journal entries for Transactions a through e. Assume that 2020 net income was $87,000. Prepare a statement of stockholders equity at December 31, 2020.
Coronado Company had the following stockholders' equity as of January 1, 2025. Common stock, $5 par value, 19.100 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity During 2025, the following transactions occurred. Feb. 1 Mar. 1 Mar. 18 Apr. 22 May 1 $95,500 304,000 314,000 $713,500 Coronado repurchased 2,150 shares of treasury stock at a price of $20 per share. 720 shares of treasury stock repurchased above were reissued at $18 per share. 530 shares of treasury stock repurchased above were reissued at $13 per share. 630 shares of treasury stock repurchased above were reissued at $22 per share. Remaining treasury shares are retired.
Mendes Charters reported the following information at December 31, 2017: Preferred stock, $100 par, 500 shares authorized, and outstanding; cumulative; nonparticipating; callable at par value $ 50,000 Common stock, $12 par, 50,000 shares authorized and outstanding 600,000 Additional paid-in capital—common 25,000 Retained earnings 825,000 Mendes’ total contributed capital is a. $625,000. b. $1,500,000. c. $650,000. d. $675,000.
Analysis of Stockholders' Equity The Stockholders' Equity section of the December 31, 2017, balance sheet of Eldon Company appeared as follows: Preferred stock, $50 par value, 5,000 shares authorized, ? shares issued $275,000 Common stock, ? par, 10,000 shares authorized, 8,000 shares issued 80,000 Additional paid-in capital—Preferred 9,900 Additional paid-in capital—Common 480,000 Additional paid-in capital—Treasury stock 1,000 Total contributed capital $845,900 Retained earnings 49,000 Treasury stock, preferred, 100 shares (3,500) Total stockholders’ equity $ ? The average per-share sales price of the common stock when issued$fill in the blank ___ per share 6. The cost of the treasury stock per share$fill in the blank ___ per share 8. The per-share book value of the common stock assuming that there are no dividends in arrears and that the preferred stock can be redeemed at its par value$fill in the blank ____per share
Whispering Company had the following stockholders' equity as of January 1, 2025. Common stock, $5 par value, 18,800 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity During 2025, the following transactions occurred. Feb. 1 Mar. 1 Mar. 18 Apr. 22 May 1 $94,000 298,000 319,000 $711,000 Whispering repurchased 2,100 shares of treasury stock at a price of $21 per share. 780 shares of treasury stock repurchased above were reissued at $19 per share. 510 shares of treasury stock repurchased above were reissued at $13 per share. 590 shares of treasury stock repurchased above were reissued at $23 per share. Remaining treasury shares are retired.
Sunland Company December 31, 2017 balance sheet showed the following: 6% preferred stock, $10 par value, cumulative, 30000 shares authorized; 20000 shares issued $ 200000 Common stock, $10 par value, 4,000,000 shares authorized; 2,600,000 shares issued, 2,560,000 shares outstanding Paid-in capital in excess of par value - preferred stock 26000000 64000 Paid-in capital in excess of par value - common stock 28200000 Retained earnings 9650000 Treasury stock (40,000 shares) 748000 Sunland declared and paid a $82100 cash dividend on December 15, 2017. If the company's dividends in arrears prior to that date were $21000, Sunland common stockholders received C no dividend. C $70100. C $60100. C $49100.