Financial And Managerial Accounting
15th Edition
ISBN: 9781337902663
Author: WARREN, Carl S.
Publisher: Cengage Learning,
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Chapter 12, Problem 18E
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
Prepare the Stockholders’ Equity section of the balance sheet as of June 30. Eighty thousand shares of common stock are authorized, and 9,000 shares have been reacquired.
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"Stockholders' Equity" section of balance sheet
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
Common Stock, $15 par
Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Par-Common Stock
Retained Earnings
Treasury Stock
Prepare the "Stockholders' Equity" section of the balance sheet as of June 30. Regarding the common stock, 50,000 shares are authorized,
and 450 shares have been reacquired.
Paid-In Capital:
$138,000
6,000
11,040
228,000
8,550
Line Item Description
Goodale Properties Inc.
Stockholders' Equity
June 30, 20XX
Paid-in capital, common stock
Treasury Stock (450 Shares at Cost)
Common Stock, $15 Par (50,000 Shares Authorized, 9,200 Shares Issued)
Excess of Issue Price Over Par
Amount
$ 138,000
Amount Amount
Prepare a statement of stockholders' equity for Al-Can Products, Inc.
Navigate to the Stockholders' Equity Statement tab in the spreadsheet.
Use the following information to prepare your statement:
a. January 1 balance of capital stock account of 9,000 shares issued at $6.00 per share was
$54,000.00.
b. No other stock was issued during the year.
c. January 1 balance of retained earnings account was $29,250.00.
d. Net Income was $41,106.00.
e. Dividends declared during the year were $19,200.00.
Reporting stockholders' equity
Using the following accounts and balances, prepare the Stockholders'Equity section of the balance sheet using Method 1 of Exhibit 8. Five
hundred thousand shares of common stock are authorized, and 40,000shares have been reacquired.
Chapter 12 Solutions
Financial And Managerial Accounting
Ch. 12 - Of two corporations organized at approximately the...Ch. 12 - A stockbroker advises a client to buy preferred...Ch. 12 - A corporation with both preferred stock and common...Ch. 12 - Prob. 4DQCh. 12 - Prob. 5DQCh. 12 - Prob. 6DQCh. 12 - A corporation reacquires 60,000 shares of its own...Ch. 12 - Prob. 8DQCh. 12 - Prob. 9DQCh. 12 - Prob. 10DQ
Ch. 12 - Dividends per share Zero Calories Company has...Ch. 12 - Entries for issuing stock On January 22, Zentric...Ch. 12 - Entries for cash dividends The declaration,...Ch. 12 - Entries for stock dividends Alpine Energy...Ch. 12 - Entries for treasury stock On May 27, Hydro...Ch. 12 - Reporting stockholders equity Using the following...Ch. 12 - Statement of stockholders equity Noric Cruises...Ch. 12 - Earnings per share Financial statement data for...Ch. 12 - Dividends per share Seventy-Two Inc., a developer...Ch. 12 - Prob. 2ECh. 12 - Prob. 3ECh. 12 - Entries for issuing no-par stock On May 15, Helena...Ch. 12 - Issuing stock for assets other than cash On...Ch. 12 - Selected stock transactions Alpha Sounds Corp., an...Ch. 12 - Issuing stock Willow Creek Nursery, with an...Ch. 12 - Issuing stock Professional Products Inc., a...Ch. 12 - Entries for cash dividends The declaration,...Ch. 12 - Prob. 10ECh. 12 - Prob. 11ECh. 12 - Prob. 12ECh. 12 - Selected dividend transactions, stock split...Ch. 12 - Treasury stock transactions Mystic Lake Inc....Ch. 12 - Prob. 15ECh. 12 - Treasury stock transactions Biscayne Bay Water...Ch. 12 - Reporting paid-in capital The following accounts...Ch. 12 - Stockholders' Equity section of balance sheet The...Ch. 12 - Stockholders' Equity section of balance sheet...Ch. 12 - Retained earnings statement Sumter Pumps...Ch. 12 - Prob. 21ECh. 12 - Statement of stockholders equity The stockholders...Ch. 12 - Dividends on preferred and common stock Pecan...Ch. 12 - Stock transactions for corporate expansion On...Ch. 12 - Selected stock transactions The following selected...Ch. 12 - Entries for selected corporate transactions Morrow...Ch. 12 - Prob. 5PACh. 12 - Dividends on preferred and common stock Yosemite...Ch. 12 - Stock transaction for corporate expansion Pulsar...Ch. 12 - Selected stock transactions Diamondback Welding ...Ch. 12 - Entries for selected corporate transactions Nav-Go...Ch. 12 - Prob. 5PBCh. 12 - Selected transactions completed by Equinox...Ch. 12 - Analyze and compare Amazon.com and Wal-Mart...Ch. 12 - Analyze and compare Bank of America and Wells...Ch. 12 - Analyze Pacific Gas and Electric Company Pacific...Ch. 12 - Prob. 4MADCh. 12 - Prob. 5MADCh. 12 - Ethics in Action Tommy Gunn is a division manager...Ch. 12 - Prob. 2TIFCh. 12 - Communications Motion Designs Inc. has paid...
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Stockholders Equity: How to Calculate?; Author: Accounting University;https://www.youtube.com/watch?v=2jZk1T5GIlw;License: Standard Youtube License