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  • Intermediate Accounting

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    wyhanmm
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    This document provides financial information about a company's stockholders' equity as of December 31. It details transactions and balances for preferred stock ($3.6 million), common stock ($10.25 million), treasury stock ($200,000), paid-in capital in excess of par for preferred stock ($260,000) and common stock ($27.75 million), retained earnings ($1.187 million), and total stockholders' equity ($4,294,700). It records stock issuances and purchases, dividend payments, and changes in paid-in capital and retained earnings over the course of the year.

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    Intermediate accounting

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    This document provides financial information about a company's stockholders' equity as of December 31. It details transactions and balances for preferred stock ($3.6 million), common stock ($10.25 million), treasury stock ($200,000), paid-in capital in excess of par for preferred stock ($260,000) and common stock ($27.75 million), retained earnings ($1.187 million), and total stockholders' equity ($4,294,700). It records stock issuances and purchases, dividend payments, and changes in paid-in capital and retained earnings over the course of the year.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Descargue como DOCX, PDF, TXT o lea en línea desde Scribd
    Marcar por contenido inapropiado
    786 vistas1 página

    Intermediate Accounting

    Cargado por

    wyhanmm
    This document provides financial information about a company's stockholders' equity as of December 31. It details transactions and balances for preferred stock ($3.6 million), common stock ($10.25 million), treasury stock ($200,000), paid-in capital in excess of par for preferred stock ($260,000) and common stock ($27.75 million), retained earnings ($1.187 million), and total stockholders' equity ($4,294,700). It records stock issuances and purchases, dividend payments, and changes in paid-in capital and retained earnings over the course of the year.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Descargue como DOCX, PDF, TXT o lea en línea desde Scribd
    Marcar por contenido inapropiado
    de 1

    P15-3

    Preferred
    Preferred
    Total

    stock
    stock ( Jan 1):
    preferred

    $20 par
    stock=

    (balance):
    3,000,000
    value * 30,000= $ 600,000
    3,000,000+600,000=3,600,000

    Paid-in capital in excess of Par (balance): Preferred stock: $200,000


    Paid-in capital in excess of par (Jan 1): (22-2)* 30,000= $60,000
    Total paid-in capital in excess of par preferred stock= $200,000+$60,000=$260,000
    Common
    Common
    Total

    stock
    stock
    (Feb
    2):
    common

    (balance):
    10,000,000
    $
    5
    per
    share*
    50,000=$250,000
    stock=$10,000,000+$250,000=$10,250,000

    Paid-in capital in excess of par common stock (balance): $27,000,000


    Paid-in capital in excess of par common stock (Feb 1): (20-5)*50,000=750.000
    Total paid in excess of par common stock= $27,000,000+750,000=$27,750,000
    Treasury
    Treasure
    Total
    Paid

    stock
    purchase(July
    1)=30,000*10
    per
    share=
    $300,000
    stock
    issue
    (Sep
    15)=10*10,000=$100,000
    treasure
    stock=
    $300,000-$100,000=$200,000
    in

    Preferred
    Common

    capital
    dividend
    dividend

    from

    treasure

    (Dec
    (Dec
    31):

    stock=

    (11-10)*10,000=$10,000

    31):
    3,600,000*8%=$288,000
    10,250,000*0.5=
    $5,125,000

    Retained
    earnings
    (Balance):
    $4,500,000
    Retained earnings ( Dec 31)=$4,500,000-288,000-5,125,000+2,100,000=$1,187,000
    Therefore,
    the
    stockholders
    Preferred stock
    Common stock
    Treasury stock
    Paid-in capital in excess of par preferred stock
    260,000
    Paid-in capital in excess of par common stock
    Paid-in capital in excess of par treasury stock
    Remain earnings
    Total equity
    4,294,700

    equity:
    3,600,000
    10,250,000
    (200,000)
    27,750,000
    100,000
    1,187,000

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