Shown below is the stockholders' equity section of Holiday Travels' balance sheet at December 31, 2022:...
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Shown below is the stockholders' equity section of Holiday Travels' balance sheet at December 31, 2022: Common stock, $2 par value, 5,000,000 shares outhorized, 370,000 shares issued and outstanding Additional paid-in capital Retained earnings Total stockholders' equity $740,000 1,595,000 2.680.000 $5.015.000 During 2023, the following events occurred: → Holiday Travels was authorized to sell 120,000 shares of $100 par, 6% preferred stock > Holiday sold 23,000 shares of the preferred stock at par value > A cash dividend of $235,000 was declared and paid > Holiday Travels declared and issued a 10% stock dividend on the common stock when the market value of the stock was $17 per share Net income for the year was $1,650,000 Answer the following, based on the information given on the preceding page: Capital stock, as of December 31, 2023: # of common shares authorized # of common shares issued and outstanding # of preferred shares issued and outstanding Amount of cash dividend to common stockholders Amount of cash dividend to preferred stockholders Total debit to Stock Dividends account Additional paid-in capital, at December 31, 2023 Retained earnings, at January 1, 2023 Retained earnings, at December 31, 2023 Total Stockholders' Equity, at December 31, 2023 Shown below is the stockholders' equity section of Holiday Travels' balance sheet at December 31, 2022: Common stock, $2 par value, 5,000,000 shares outhorized, 370,000 shares issued and outstanding Additional paid-in capital Retained earnings Total stockholders' equity $740,000 1,595,000 2.680.000 $5.015.000 During 2023, the following events occurred: → Holiday Travels was authorized to sell 120,000 shares of $100 par, 6% preferred stock > Holiday sold 23,000 shares of the preferred stock at par value > A cash dividend of $235,000 was declared and paid > Holiday Travels declared and issued a 10% stock dividend on the common stock when the market value of the stock was $17 per share Net income for the year was $1,650,000 Answer the following, based on the information given on the preceding page: Capital stock, as of December 31, 2023: # of common shares authorized # of common shares issued and outstanding # of preferred shares issued and outstanding Amount of cash dividend to common stockholders Amount of cash dividend to preferred stockholders Total debit to Stock Dividends account Additional paid-in capital, at December 31, 2023 Retained earnings, at January 1, 2023 Retained earnings, at December 31, 2023 Total Stockholders' Equity, at December 31, 2023
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Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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