Use the statement of stockholders' equity in Exhibit 11-4 to answer the following questions about Allied Electronics
Question:
1. How much cash did the issuance of common stock bring in during 20X9?
2. What was the effect of the stock dividends on Allied's retained earnings? On total paid-in capital? On total stockholders' equity? On total assets?
3. What was the cost of the treasury stock that Allied purchased during 20X9? What was Allied's cost of the treasury stock that Allied sold during the year? For how much did Allied sell the treasury stock during 20X9?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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EXHIBIT 11-4 Reporting a Prior-Period Adjustment on the Statement of Stockholders' Equity Allied Electronics Corporation Statemant of Stockholders' Equity Year Ended Decem ber 31,20x9 Accumu lated Other Comprehen si ve Income Unrealized Foreign- Common Additional Gain Currency Total Stock Paid-in Retained Treasury (Loss) on Translation Stockhoders $1 Par Capita Earnings Stock Investments Adjustment Equity 1 Balance, December 31,20X8. 2 ssuance of st 3 Net income 4 Cash di $10,000 $160,000 $130,000 $(25,000) $6,000 $(10,000) $271,000 520,000 69,000 (21,000) 20,000 500,000 69,000 (21,000) 3,000 72,000 (75,000) Stock dividend-10% Purchase of treasury stock 7 Sale of treasury stock.. 8 Unrcalized gain (9,000) 4,000 (9,000) 11,000 7,000 1,000 1,000 9 Foreign-currency trans lation adjustment 10 Balance, December 31,20x9 3,000 (7,000) $845,000 $33,000 $739,000 $103,000 $(30,000) $7,000
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1 During 20X9 Allied issued common stock for 520000 Of this total 20000 par value went into the Comm...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0135012840
7th edition
Authors: Walter T. Harrison, Charles T. Horngren
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