Question Status :

1 2 3 4

5:50 PM

On June 1, the corporation declares a $4 per share dividend on the common stock to be paid on July 15. Record the balances in the equity section after the June 1 transaction has been recorded.

Stockholders Equity
	Before Transaction	After Transaction
Common stock, 750000 shares authorized, 68000 shares issued, 54400 shares outstanding, $14 par value.	$952000	$
Contributed capital in excess of par value, Common Stock	$2856000	$
Retained Earnings	$952000	$
Treasury Stock	$(380800)	$( )
Total Stockholders Equity	$4379200	$

2.

Question Status :

1 2 3 4

5:50 PM

Consider the following equity section of a balance sheet for a corporation. How many shares of common stock are in the treasury? What did the corporation pay for the treasury stock?

Common stock, 300000 shares authorized, 65000 shares issued, 52000 shares outstanding, $18 par value.	$1170000
Contributed capital in excess of par value, Common Stock	$3510000
Retained Earnings	$178000
Treasury Stock	$(936000)
Total Stockholders Equity	$3922000

3.

Question Status :

1 2 3 4

5:51 PM

Consider the following equity section of a balance sheet for a corporation. How much in total have the common shareholders contributed to the corporation in exchange for stock? What has been the average issue price for a share of common stock? (Round to the nearest dollar)

Common stock, 800000 shares authorized, 68000 shares issued, 61200 shares outstanding, $15 par value.	$1020000
Contributed capital in excess of par value, Common Stock	$4080000
Retained Earnings	$186000
Treasury Stock	$(306000)
Total Stockholders Equity	$4980000

4.

Question Status :

1 2 3 4

5:51 PM

The corporation issues 2700 shares of common stock for $72 per share. How much cash did the corporation receive? Record the balances in the equity section after this transaction has been recorded. Hint: Record the beginning equity account balances in the accounting equation format. Then record the balanced transaction to issue stock. Finally, compute the ending balances for the accounts that were involved in the transaction.

Stockholders Equity
	Before Transaction	After Transaction
Common stock, 200000 shares authorized, 46000 shares issued, 41400 shares outstanding, $12 par value.	$552000	$
Contributed capital in excess of par value, Common Stock	$3864000	$
Retained Earnings	$260000	$
Treasury Stock	$(110400)	$( )
Total Stockholders Equity	$4565600	$