Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Two-hundred thousand
Question:
Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet. Two-hundred thousand shares of common stock are authorized, and 24,000 shares have been reacquired.
Common Stock, $15 par .............$2,400,000
Paid-In Capital in Excess of Par ........... 480,000
Paid-In Capital from Sale of Treasury Stock ....... 100,000
Retained Earnings ............... 5,275,000
Treasury Stock ..................336,000
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...
Step by Step Answer:
Stockholders Equity Paidin capital Common stock 15 par ...View the full answer
Related Video
Treasury stock refers to shares of a company\'s own stock that the company has bought back from its shareholders and now holds as a form of asset on its balance sheet. When a company buys back its own stock, it reduces the number of outstanding shares in the market, which can potentially increase the value of the remaining shares. Treasury stock can be acquired through a variety of methods, such as open market purchases, negotiated transactions, or as a result of converting convertible securities. Companies may buy back their own shares for a number of reasons, including to return capital to shareholders, to signal confidence in the company\'s future, or to use the shares for employee stock option plans. While treasury stock does not pay dividends, it can be reissued by the company at a later time, which could dilute the value of the remaining shares. Companies are required to report their treasury stock holdings in their financial statements.
Students also viewed these Accounting questions
-
Prepare the Stockholders Equity section of the balance sheet from the following account balances: Retained Earnings ..................... $ 143,000 Common Stock, $ 40 par (30,000 shares authorized,...
-
Stockholders Equity Section of the Balance Sheet The newly hired accountant at Ives Inc. prepared the following balance sheet: Assets Cash .....................$ 3,500 Accounts receivable...
-
The Stockholders Equity section of the balance sheet for Cooperstown Corp. at the end of 2010 appears as follows: 8%, $100 par, cumulative preferred stock, 200,000 shares authorized, 50,000 shares...
-
Daniel agreed to erect an apartment building for Steven for $12 million and that Daniel would suffer a deduction of $12,000 per day for every day of delay. Daniel was twenty days late in finishing...
-
Bienestar, Inc., has two plants that manufacture a line of wheelchairs. One is located in Kansas City, and the other in Tulsa. Each plant is set up as a profit center. During the past year, both...
-
The beam supports the distributed load caused by the sandbags. Determine the resultant force on the beam and specify its location measured from point A. Units Used: kN = 103 N Given: w1 = 1.5 kN/m a...
-
How is the concept of encapsulation applied to database management?
-
Read the paragraph in Appendix A, note 1, under item 3.RATIONALIZATION CHARGES. The paragraph describes a series of business decisions made by Home Depot to close some of its stores, including 15...
-
Discussions and case questions: The case discusses the reasons for the failure of the Danone milk business in India. Was pricing the most dominant factor behind the exit of Danone from India?...
-
Maury bought one full bitcoin in March 2021. His basis in the coin is $6,118. In July of 2022, he donated 0.2 of the coin to a qualified charitable organization. The fair market value of a full coin...
-
Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 2,500 shares have been reacquired....
-
Emmy Leaders Inc. reported the following results for the year ending August 31, 2012: Retained earnings, September 1, 2011 ....$740,000 Net income ...............145,000 Cash dividends declared...
-
Without a calculator, find the exact function value. tan 210
-
How does the concept of intersectionality, as developed by Kimberl Crenshaw, challenge traditional understandings of identity and social categorization by highlighting the interconnectedness and...
-
A 14,000-kg bus is moving at 60.0 m/s. Calculate the work needed to slow the bus to a speed of 20.0 m/s
-
Can intersectionality be applied beyond its original focus on gender and race to illuminate the intersecting dimensions of power and inequality in areas such as disability, age, nationality, and...
-
A diver is filling an air tank for a dive in T C water. However, filling the tank takes place on land, where the temperature is 25 C . The tanks have a volume of V liters and are made from 10 kg of...
-
Bourne Incorporated reports a cash balance at the end of the month of $2,270. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions:...
-
On SlideShare or any other source, find a business presentation on any topic that interests you. Your task: Re-create the first five slides in the presentation in a manner that will make them more...
-
The Home Depot is the leading retailer in the home improvement industry and one of the 10largest retailers in the United States. The company included the following on its January 29, 2012, balance...
-
To qualify for a loan, the applicant must have a gross income of at least $35,000 if single or combined income of $50,000 if married. Let q: You qualify for a loan. m: You are married. i: You have an...
-
Dewey??s Department Store uses a perpetual inventory system. Data for product E2-D2 include the purchases shown on page 313. On June 1, Dewey sold 25 units, and on August 27, 30 more units. Compute...
-
Roskopf Company reports net income of $92,000 in 2012. However, ending inventory was understated by $7,000. What is the correct net income for 2012? What effect, if any, will this error have on total...
-
Newell Company just took its physical inventory. The count of inventory items on hand at the companys business locations resulted in a total inventory cost of $300,000. In reviewing the details of...
-
How do I use voice commands to control my computer with the project of making a video?
-
Dan Mullen is employed by a mail-order distributor and reconditions used desktop computers, broadband routers, and laser printers. Dan is paid $12 per hour, plus an extra $6 per hour for work in...
-
Consider two series Yt and Y2t: Y = IIY-1 +6 Or more explicitly as: Aye Aya Yit Elt + Y2t 2t in which = [1, 2]' is IID with E(e) = 0 and E(ee'): [ 0 0 a) Write the system in levels Answer: A-AU-N b)...
Study smarter with the SolutionInn App