The statement of stockholders' equity for Hammer Corporation follows. Use Hammer Corporation's statement to answer the questions:
Question:
Use Hammer Corporation's statement to answer the questions:
1. How much cash did the issuance of common stock bring in during 2016?
2. What was the effect of the stock dividends on Hammer'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 Hammer purchased during 2016? What was the cost of the treasury stock that Hammer sold during the year? For how much did Hammer sell the treasury stock during 2016?
4. Hammer revalued available-for-sale investments during the year, resulting in an unrealized gain of $9,000. It also consolidated a foreign subsidiary, resulting in a foreign currency translation gain of $3,000. How much was comprehensive income? How much should be added to Hammer's Accumulated Other Comprehensive Income? Is Accumulated Other Comprehensive Income included in Hammer's net income?
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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Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz