Vaughn Company reported the following amounts in the stockholders ? ?equity section of its December 3 1
Question:
Vaughn Company reported the following amounts in the stockholders ?equity section of its December ?balance sheet.
Preferred stock, ?$ ?par ?shares authorized, ?shares issued ? $
Common stock, $ ?par ?shares authorized, ?shares issued
Additional paidin capital
Retained earnings
? Total $
During ?Vaughn took part in the following transactions concerning stockholders ?equity.
? Paid the annual ?$ ?per share dividend on preferred stock and a $ ?per share dividend on common stock. These dividends had been declared on December
? Purchased ?shares of its own outstanding common stock for $ ?per share. Vaughn uses the cost method.
? Reissued ?treasury shares for land valued at $
? Issued ?shares of preferred stock at $ ?per share.
? Declared a ?stock dividend on the outstanding common stock when the stock is selling for $ ?per share.
? Issued the stock dividend.
? Declared the annual ?$ ?per share dividend on preferred stock and the $ ?per share dividend on common stock. These dividends are payable in
Preferred Stock
Paidin Capital in Excess of Par ?Preferred Stock
Common Stock Dividend Distributable
Paidin Capital in Excess of Par ?Common Stock
Common Stock Dividend Distributable
Common Stock
Retained Earnings
Dividends Payable ?Common Stock
Dividends Payable ?Preferred Stock
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones