Required information -The following information applies to the questio (58).pdf

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Required information [The following information applies to the questions displayed below.] The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow. The following transactions and events affected its equity during the year. January 5 Declared a $0.60 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 Declared a $0.60 per share cash dividend, date of record April 10. July 5 Declared a $0.60 per share cash dividend, date of record July 10 . July 31 Declared a 20% stock dividend when the stock's market value was $12 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.60 per share cash dividend, date of record October 10. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend?.

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On January 1, 2022, Ivanhoe Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 61,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred. Mar. 1 Apr. 1 July 1 Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $40. Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $14 per share. Issued the shares for the stock dividend. Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2023. Determined that net income for the year was $365,500. 31 Dec. 1 $1,464,000 31 191,000 619,000 Common Stock Date Explanation Ref Debit Credit Balance Balance Common Stock Dividends Distributable Date Explanation Ref Debit Credit Balance Paid-in Capital in Excess of Par- Common Stock Date Explanation Ref Debit Credit Balance Balance Retained Earnings Date Explanation Ref Debit: Credit Balance Balance Net income Date Account Titles and Explanation Debit Credit Prepare a stockholders' equity section at December 31. (Enter account nome only and do not provide descriptive informotion.) IVANHOE CORPORATION Balance Sheet (Partial) On January 1, 2022, Ivanhoe Corporation had the following stockholders' equity accounts. During the year, the following transactions occurred. Feb. 1 Declared a \$1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2 -for- 1 stock split. Prior to the split, the market price per share was $40. July 1 Declared a 15% stock dividend to stockholders of record an July 15, distributable July 31 . On July 1, the market price of the stock was $14 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a \$0.40 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $365,500..

On January 1, 2022, Ivanhoe Corporation had the following stockholde.pdf

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The following transactions and events affected its equity during the y.pdf

Ian0J2Bondo

Required information [The following emormation appoies to the questians displayed bolowk] The equity sections for Atticus Group at the beginning of the year (Jonuary 1) and end of the yoar (December 3i) follow. The followerg irnesactions and events effected its equity during the year Jiakry 3 berlaced a su.4e per share cash dividend, date of record lawary 10. Harch a8 Burcheded treabury stock for cash. 4eril 5 theclared a so.Ae per viare cail dividend, dote of record Merl1 19. July 5 teclared a 50.40 per share cash dividend, dote of record july 10 . lely 11 Declated a 2 is stock alvidend whan the stock's market value was $12 per share. kipent is thelated the stock dividend that was declared on July 31. october 5 laiclared a so, 4e per share cash olvidend, date of record octiter ie. 4. What is the per share cost of the treosury stock purchosed? (Round your answer to 2 decimal places.).

Required information -The following emormation appoies to the questian.pdf

Max3zSLangdonj

On January 1,2021, Dynatech Corporation, a publicly traded company, had the following shareholders' equity accounts: During the year, the following transactions occurred: Jan. 15 Declared a $1.25 per share cash dividend to shareholders of record on January 31 , payable February 15. Apr. 16 Deciared a 10\% stock dividend to shareholders of record on April 30, distributable May 15. On April 16, April 30 , and May 15 , the share prices were $12,$11.80, and $11.90, respectively. Oct. 1 Effected a 2-for-1 stock split. On October 1, the share price was $15. Dec. 31 Determined that net income for the year was $653,120. Open T accounts as required and post to the shareholders' equity accounts. (Post entries in the order presented in the question.) Dividends Declared Stock Dividends Distributable.

On January 1,2021, Dynatech Corporation, a publicly traded company, h.pdf

amancallularpanjim

On January 1, 2022, Wildhorse Corporation had the following stockholders' equity accounts. During the year, the following transactions occurred. Feb. 1 Declareda $2 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $40. July 1 Declared a 15% stock dividend to stockholders of record on July 15 , distributable July 31 . On July 1 , the market price of the stock was $14 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declareda $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $326,500.Prepare a stockholders'equity section at December 31. (Enter account name only and do not provide descriptive information.).

On January 1 2022 Wildhorse Corporation had the following .pdf

acetecnagarajan

Please help, I can\'t figure out what I did wrong. Problem 11-2A (Part Level Submission) The stockholders\' equity accounts of Cheyenne Corp. on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,400 shares authorized) Common Stock ($4 stated value, 310,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stoclk Retained Earnings Treasury Stock (4,400 common shares) $264,000 1,033,33:3 13,200 496,000 683,500 35,200 During 2017, the corporation had the following transactions and events pertaining to its stockholders equity Feb. 1 Issued 4,620 shares of common stock for $32,340 Mar 20 Purchased 1,250 additional shares of common treasury stock at $8 per share Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1 Nov. 1 Paid the dividend declared on October 1 Dec. Declared a $0.85 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017 Dec. 31 Determined that net income for the year was $278,200. Paid the dividend declared on December 1 Solution I have only corrected the journal entries marked in red Calculation of cash dividends on Dec1: No of common stock shares outstanding: (1033,333/4) + 4620 - 4400 - 1250 = 257303.25 <4620 is additional shares issued; 4400 is treasury stock; 1250 is additional treasury stock> Cash dividend declared = 0.85 per share Hence, total cash dividend = 257303.25 x 0.85 = $218708 Calculation of cash dividends on Dec 31: Oct 1 cash dividend (as per journal entry): 18480 Dec 1 cash dividend (as per journal entry): 218708 Total cash dividend: 237188DateAccount titlesDebitCreditFeb 1Cash32340Common stock18480Paid-in Capital in excess of stated value-common stock13860Dec 1Cash dividends218708Dividends payable218708Dec 31Retained earnings237188Cash dividends237188Dec 31Dividends payable218708Cash218708.

Please help, I cant figure out what I did wrong. Problem 11-2A (Pa.pdf

FOREVERPRODUCTCHD

Presented below is selected information pertaining to Pineapple Enterprises Ltd. for last year: Assets January 1 $240,000 Assets December 31 $320,000 Liabilities January 1 $120, 000 Common shares December 31 60,000 Retained earnings December 31 $20,000 Common shares issued during the year 2,000 Dividends declared during the year 32,000 Required Calculate the net income for last year. Assets January 1 $240,000 Assets December 31 $320,000 Liabilities January 1 $120, 000 Common shares December 31 60,000 Retained earnings December 31 $20,000 Common shares issued during the year 2,000 Dividends declared during the year 32,000 Solution Assets January 1 240000 Less Liabilities January 1 120000 Common stockholders equity January 1 120000 less Common stock January 1 ( 60000-2000) 58000 Retained earnings January 1 62000 Retained earnings December 31 20000 Add Dividend declared 32000 52000 less Retained earnings January 1 62000 Net income -10000.

Presented below is selected information pertaining to Pineapple Ente.pdf

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BradBradCarterCarterstarted a mobile DJ business namedParty Wh.pdf

eyeonsecuritysystems

Problem 14-1A On January 1, 2017, Geffrey Corporation had the following stockholders\' equity accounts. Common Stock ($20 par value, 50,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,000,000 190,000 550,000 During the year, the following transactions occurred. Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $35 July 1 Declared a 10% stock dividend to stockholders of record on July 15 distributable uly 31 On uly 1, the market price of the stock was SA er share. 31 Dec. 1 31 Issued the shares for the stock dividend. Declared a $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2018. Determined that net income for the year was $300,000 Solution a) Journal Entries Date Accounts and Titles Debit Credit Feb.1 Retained Earnings (50,000 X $1) $50,000.00 Dividends Payable $50,000.00 Mar.1 Dividends Payable $50,000.00 Cash $50,000.00 Apr.1 No Entry Two-for-one stock split increases number of shares to 100,000 = (50,000 X 2) and reduces par value to $10 per share Jul.1 Retained Earnings (100,000 x 10% x $14) $140,000.00 Common Stock Dividends Distributable (10,000 X $10) $100,000.00 Paid-in Capital in Excess of Par Value (10,000 X $4) $40,000.00 Jul.31 Common Stock Dividends Distributable $100,000.00 Common Stock $100,000.00 Dec. 1 Retained Earnings (110,000 X $.30) $33,000.00 Dividends Payable $33,000.00 Dec. 31 Income Summary $300,000.00 Retained Earnings $300,000.00 b) Geffrey Corporation Balance Sheet (Partial) December 31, 2017 Stockholders’ equity Paid- in capital Capital stock Common stock, $10 par value, 110,000 shares issued and outstanding $1,100,000.00 Additional paid-in capital In excess of par value ($190,000 + $40,000) $230,000.00 Total paid-in capital $1,330,000.00 Retained earnings ($300,000 + 33000 + 140000 + 50000) $523,000.00 Total stockholders’ equity $1,853,000.00.

Problem 14-1A On January 1, 2017, Geffrey Corporation had the followi.pdf

meerobertsonheyde608

Graded Assignments Stockholders' Equity The balance sheet of Love Lizzo Incorporated included the following shareholders' equity accounts at December 31. 2022: During 2022, the following events and transactions occurred: - On February 28th, the board of directors declared a property dividend of 7,000 shares of Sowell Corporation common stock that Lizzo had purchased in January as an investment with a cost basis of $125,000. The investment shares had a fair value of $20 per share and were distributed March 31st to shareholders of record March 15th. - On June 30th, a 5\% common stock dividend was declared and distributed. The market value of the common stock was $30 per share. - On September 5 th, the company reissued 1,000 shares of treasury stock at a price of $31 per share. - On December 1st, the board of directors declared the annual cash dividend of 6% on the 10,000 preferred shares, payable on December 28th to shareholders of record December 20th. - On December 1st, the board of directors declared a cash dividend of $0.20 per share on its common shares, payable on December 28th to shareholders of record December 20th. - On December 29th, the company issued 50,000 shares of common stock at a price of $35 per share. - On December 15, a 2-for-1 stock split was declared and distributed. The market value of the $3 par common stock was $40 per share. Hint: the number of treasury shares are affected by this stock split. - Net income for the year was $5,877,000. Required: Part 1: Record the journal entries for each transaction and supporting calculations for each journal entry as necessary. Remember to keep track of the number of shares outstanding, as applicable, for each transaction. Hint: Creating T-accounts and updating each time a journal entry is recorded is helpful. Part 2: Prepare a rellforward of the shareholders' equity section of the balance sheet for Love Lizzo, Inc, at December 31, 2022. Part 3: How many shares of common stock are authorized, issued and outstanding?.

Graded Assignments Stockholders Equity The balance sheet of Love Liz.pdf

concordpharma

Will’s Widget Company (WWC) incorporated near the end of 2017. Operations began in January of 2018. WWC prepares adjusting entries and financial statements at the end of each month. Balances in the accounts at the end of January are as follows: Account Title Dr Cr Cash 21,170 Accounts Receivable 12,200 Allowance for Doubtful Accounts 1,750 Inventory (45 units) 3,825 Unearned Revenue (40 units) 5,200 Accounts Payable (Jan Rent) 3,000 Notes Payable 14,500 Contributed Capital 6,700 Retained Earnings – Feb 1, 2012 6,045 Additional Information you need to know about WWC: • WWC establishes a policy that it will sell inventory at $165 per unit. • In January, WWC received a $5,200 advance for 40 units, as reflected in Unearned Revenue. • WWC’s February 1 inventory balance consisted of 45 units at a total cost of $3,825. • WWC’s note payable accrues interest at a 12% annual rate. • WWC will use the FIFO inventory method and record COGS on a perpetual basis. Below are transactions for February 2018: Record Journal Entries for following transactions: 02/01 Included in WWC’s February 1 Accounts Receivable balance is a $1,500 account due from Kit Kat, a WWC customer. Kit Kat is having cash flow problems and cannot pay its balance at this time. WWC arranges with Kit Kat to convert the $1,500 balance to a note, and Kit Kat signs a 6- month note, at 9% annual interest. The principal and all interest will be due and payable to WWC on August 1, 2012. 02/02 WWC paid a $900 insurance premium covering the month of February. The amount paid is recorded directly as an expense. 02/05 An additional 150 units of inventory are purchased on account by WWC for $11,250 – terms 2/15, n30. 02/05 WWC paid Federal Express $450 to have the 150 units of inventory delivered overnight. Delivery occurred on 02/06. (Hint--Recall company uses perpetual inventory system, record transportation fees as part of inventory costs—debit to inventory) 02/10 Sales of 120 units of inventory occurred during the period of 02/07 – 02/10. The sales terms are 2/10, net 30. (Hint --Recall company follows FIFO. What are the COGS of 120 sold units?) 02/15 The 40 units that were paid for in advance and recorded in January are delivered to the customer. (Hint --Recall WWC follows FIFO. What are the COGS of 40 sold units?) 02/15 10 units of the inventory that had been sold on 2/10 are returned to WWC. The units are not damaged and can be resold. Therefore, they are returned to inventory. Assume the units returned are from the 2/05 purchase. 02/16 WWC pays the first 2 weeks wages to the employees. The total paid is $2,500. 02/17 Paid in full the amount owed for the 2/05 purchase of inventory. WWC records purchase discounts as a reduction of inventory costs (credit to inventory). 02/18 Wrote off a customer’s account in the amount of $1,850. 02/19 $6,000 of rent for January and February was paid. Because all of the rent will soon expire, the February portion of the payment is charged directly to expense. 02.

Will’s Widget Company (WWC) incorporated near the end of 2017. Opera.pdf

abhinavbhatnagar201

The stockholders' equity accounts of Sheffield Corporation on January 1, 2022, were as follows. During 2022, the corporation had the following transactions and events pertaining to its stockholders ' equity. Feb. 1 Issued 24,000 shares of common stock for $117 , 000 . Apr. 14 Sold 6,000 shares of treasury stock-common for $33 , 700 . Sept. 3 Issued 5,100 shares of common stock for a pathit valued at $35 , 000 . Nov. 10 Purchased 1,100 shares of common stock for the treasury at a cost of $5 , 700 . Dec. 31 Determined that net income for the year was $420 , 000 , No dividends were declared during the year. Journalize the transactions and the closing entry for net income. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Use J5 for the posting reference.) (Postentries in the order of joumal entries presented in the previous part.) Preferred Stock Retained Earnings eTextbook and Media Assistance Used List of Accounts Attempts: 3 of 5 used Prepare a stockholders' equity section at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) SHEFFIELD CORPORATION Balance Sheet (Partial) December 31,2022 Stockholders' Equity Paid-in Capital Capital Stock: Preferred Stock Common Stock Total Capital Stock Additional Paid in Capital Paid in Capital in Evcess of Par-Preferred Stock Paid in Capital in Excess of Stated Value Common Stock Paid-in Caphtal from Treasury Stock Total Additional Paidfin Capitat Total Paid-in Capital Retained Earnines Total Paid-in Capital and Retahed Cornizgs ? Treasary stock Total Stockholders' Equity.

The stockholders' equity accounts of Sheffield Corporation on January.pdf

aasmaainternational

Fred and George have been in partnership for many years. The partners, who share profits and losses on a 60:40 basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $10,000. At the date the partnership ceases operations, the balance sheet is as follows: Cash $ 100,000 Liabilities $ 80,000 Noncash assets 200,000 Fred, capital 100,000 George, capital 120,000 Total assets $ 300,000 Total liabilities and capital $ 300,000 1. Prepare journal entries for the following transactions: (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Distributed safe cash payments to the partners. b. Paid $40,000 of the partnership’s liabilities. c. Sold noncash assets for $220,000. d. Distributed safe cash payments to the partners. e. Paid all remaining partnership liabilities of $40,000. f. Paid $8,000 in liquidation expenses; no further expenses will be incurred. g. Distributed remaining cash held by the business to the partners. Ex. 2 A local partnership is to be liquidated. Commissions and other liquidation expenses are expected to total $19,000. The business’s balance sheet prior to the commencement of liquidation is as follows: Cash $ 27,000 Liabilities $ 40,000 Noncash assets 254,000 Simpson, capital (20%) 18,000 Hart, capital (40%) 40,000 Bobb, capital (20%) 48,000 Reidl, capital (20%) 135,000 Total assets $281,000 Total liabilities and capital $281,000 Prepare a predistribution plan for this partnership. Partner Capital Balance Loss Allocation Maximum loss that can be absorb Schedule 1 Sampson Hart Bobb Reidl Schedule 2 Hart Bobb Reidl Schedule 3 Bobb Reidl Sampson Hart Bobb Reidl Reported balances Assumed loss Schedule 1 Adjusted Balances Assumed loss Schedule 2 Adjusted balances Assumed loss Schedule 3 Adjusted balances EX. 3 The Prince-Robbins partnership has the following capital account balances on January 1, 2015: Prince, Capital $ 70,000 Robbins, Capital 60,000 Prince is allocated 80 percent of all profits and losses with the remaining 20 percent assigned to Robbins after interest of 10 percent is given to each partner based on beginning capital balances. On January 2, 2015, Jeffrey invests $37,000 cash for a 20 percent interest in the partnership. This transaction is recorded by the goodwill method. After this transaction, 10 percent interest is still to go to each partner. Profits and losses will then be split as follows: Prince (50%), Robbins (30%), and Jeffrey (20%). In 2015, the partnership reports a net income of $15,000. a. Prepare the journal entry to record Jeffrey entrance into the partnership on January 2, 2015. (If no entry .

Fred and George have been in partnership for many years. The partn.docx

budbarber38650

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