Barkley Sales, Inc., ended 2014 with 10 million shares of $ 1 par common stock issued and
Question:
In April 2015, Barkley Sales issued 9 million shares of common stock at a price of $ 2 per share.
In June, the company declared and distributed a 10% stock dividend at a time when Barkleys common stock had a market value of $ 12 per share.
Then in September, Barkleys stock price dropped to $ 1 per share and the company purchased 9 million shares of treasury stock.
For the year, Barkley Sales earned net income of $ 24 million and declared cash dividends of $ 13 million.
Requirement
Complete the following tabulation to show what Barkley Sales should report for stockholders equity at December 31, 2015. Journal entries are notrequired.
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Related Book For
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
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