Marble Corporation had the following balances in its stockholders' equity accounts at December 31, 2012: Common...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Marble Corporation had the following balances in its stockholders' equity accounts at December 31, 2012: Common Stock, $10 par, 50,000 shares authorized, 20,000 shares issued Contributed Capital in Excess of Par Value, Common Retained Earnings Total stockholders' equity The following transactions occurred during 2013: February 3 May 10 December 31 $200,000 250,000 500,000 $950,000 Sold and issued 3,000 shares of common stock for $22 per share. Declared a $0.50 per share dividend on common stock. Net income for the year was determined to be $75,000 Assuming that the dividend was eventually paid during the year, calculate the ending balance in the Retained Earnings account. Marble Corporation had the following balances in its stockholders' equity accounts at December 31, 2012: Common Stock, $10 par, 50,000 shares authorized, 20,000 shares issued Contributed Capital in Excess of Par Value, Common Retained Earnings Total stockholders' equity The following transactions occurred during 2013: February 3 May 10 December 31 $200,000 250,000 500,000 $950,000 Sold and issued 3,000 shares of common stock for $22 per share. Declared a $0.50 per share dividend on common stock. Net income for the year was determined to be $75,000 Assuming that the dividend was eventually paid during the year, calculate the ending balance in the Retained Earnings account.
Expert Answer:
Related Book For
Posted Date:
Students also viewed these accounting questions
-
On January 1, 2013, Appliance Outlets had the following balances in its stockholders equity accounts: Common Stock ($10 par), $800,000; Paid-In Capital in Excess of Par, $625,000; and Retained...
-
Camp Corporation had the following balances in its stockholders' equity at January 1: During the year, Camp Corporation had the following transactions related to stockholders' equity: Mar. 1 Issued...
-
The Christy Corporation had the following balance sheet as of December 31, 20x2. The transactions for the first three months of 20x3 are also presented along with other information about specific...
-
Someone once commented that advertising is Americas greatest export. Discuss.
-
Kando Company incurs a $ 9 per unit cost for Product A, which it currently manufactures and sells for $ 13.50 per unit. Instead of manufacturing and selling this product, the company can purchase...
-
Would the following methods be described as linkage, cytogenetic, or physical mapping? A. Fluorescence in situ hybridization (FISH) B. Conducting dihybrid crosses to compute map distances C....
-
Refer to Exercise 10. The quality engineer suspects that the setting with a P-value of 0.03 may actually reduce the proportion of defective parts. What P-value would be needed to make this conclusion...
-
Muscle Bound is chain of fitness stows located in many large shopping centers. Recently, an internal memo from the CEO to all operations personnel complained about the budget overruns at Muscle...
-
Given $100,000 to invest, construct a value-weighted portfolio of the four stocks listed below. Stock Price/Share ($) Number of Shares Outstanding (millions) Golden Seas 14 1.42 Jacobs and Jacobs 22...
-
Consider the equilibrium NO 2 (g) NO(g) + 1/2O 2 (g). One mole of NO 2 (g) is placed in a vessel and allowed to come to equilibrium at a total pressure of 1 bar. An analysis of the contents of the...
-
A large corporation which manufactures lawn mowers, air conditioners, heaters and snow blowers have several stores and warehouses across Canada and the US. They also own trucks for product...
-
What is a thermal stress?
-
Discuss how group norms are formed and sustained within groups.
-
Describe various types of grooved pulleys for V-belt.
-
Define hardness.
-
Form small groups of four to five individuals and discuss the following statement: Often employees do not act or react as individuals but as members of groups. When discussing this statement, the...
-
Answer the following questions 1. In your opinion, do you think Letter of credit was the most appropriate method of payment? Explain your reason? 2. From the case study, what type of letter of credit...
-
Problem 2. (0.6 points, 0.2 points for each question) (a) A company turns its inventory 2 times a month. Its months-of-supply = Its days-of-supply = Please show your analysis below: _months. days. (1...
-
Access the 2010 annual report for Green Mountain Coffee Company by clicking on the Investor Services, Financial Information and Annual Reports links at www.greenmountaincoffee.com. Required a....
-
Chris' Crispy Chicken sold one of its used deep fryers for $5,000. The original cost of the fryer was $15,000, and related accumulated depreciation at the time of the sale was $7,000. Required...
-
Coy Williams, a first-year accountant at Protein Plus, has asked you to review the following items for potential errors. Protein Plus has a December 31 year-end. 1. Did not adjust the Prepaid...
-
For a mechanism shown in Fig. 107 below, the mechanical advantage for the given configuration is (a) 0 (b) 0.5 (c) 1.0 (d) \(\infty\). ) o Fig.107
-
In a band brake the ratio of tight side band tension to the tension on the slack side is 3 . If the angle of overlap of band on the drum is \(180^{\circ}\), the coefficient of friction required...
-
For a certain engine having an average speed of \(1200 \mathrm{rpm}\), a flywheel approximated as a solid disc, is required for keeping the fluctuation of speed within \(2 \%\) above the average...
Computational Number Theory And Digital Signal Processing 1st Edition - ISBN: 0849371775 - Free Book
Study smarter with the SolutionInn App