Chapter 13 Homework Help.docx

Chapter 13 Homework Help.docx - $6 par value common stock...

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Unformatted text preview: $6 par value common stock outstanding. The date of record is Januan payment date is FeIJruariir 15. h. 15 Paid the cash dividends. n. 10 Splitceninien stock 2-for-1. common stock was $12 per share. 9. 15 Distributed the steel: dividend. :t. 2’5 Purchased 5,400 shares eftreasurjir stock at $11 per share. 30 Declared a 30% stock dividend on the common stock. The marltet val .:__ n n_i_|. n. 1““ _|____ _ _IJ.-- __.___ _1_ _I_ L- or.” ___ _i____ {q} [Click the icon to view the transactions.) Llate Accounts and txplanatlon Lleni Requirements Aug. 15 Common Stock Dividend Distributable 162, 1. Record the transactions in Starbom's general journal. V lCommon Stockfi‘ili Par Value 2. Prepare the Starborn's stockholders' equity section of the balance sheet as of Decen Assume that Starbom was authorized to issue 2,600 shares of preferred stock and 4| common stock. Both preferred stock and common stock were issued at par. The end retained earnings as of December 31, 2016, is $2,090,000. . . ‘ issued 30% stock drvrdemzl'. Requirement 1. Record the transactions in Starborn's general journal. (Record debits firs credits. Select the explanation on the last line of the journal entry table. If no entry is requ Oct. 25: Purchased 5,400 shares of treasury Stock at $11 per share. "No entry required" on the first line of the Accounts and Explanation column and leave the cells blank.) Date Accounts and Explanation Debi Jan. 16: Declared a cash dividend on the 4%, $96 par noncumulative preferred stock {1,20 Oct. 26 Treasury Stock—Common ‘ 59,. outstanding}. Declared a $0.25 per share dividend on the 90,000 shares of$t6 par value co ‘ outstanding. The date of record is January 31, and the payment date is February 15. 03511 Date Accounts and Explanation Debit Jan. 16 Cash Dividends 27,108 ‘ Dividends Payable—Preferred ‘ HerTased treasury stock. Dividends Payable—Common ‘ Nov: 8: Sold 2,?00 shares of treasury stock for $13 per share. Declared a cash dividend. ‘ Date Accounts and Explanation Debi *— Feb. 15: Paid the cash dividends. N0"- 3 Gas“ 35: 1 Date Accounts and Explanation Debit Treasury Stink : ummor‘l ‘ ‘ . . . Feb. 15 Dividends Payabl Preferred 4,608 Paid-In Capital from Treasury Stock Transactions Dividends PayablLLCommon ‘ 22,500 1 lCash ‘ Sold beasurv stock above Gust. Dninl mal- “Hui-Inna! 1 Date Accounts and Explanation Debit Jun. 10 No entry required Jul. 30: Declared a 30% stock dividend on the common stock. The market value ofthe corn was $12 per share. Date Accounts and Explanation Debit Jul. 30 Stock Dividends 162,000 Common Stock Dividend Distributable | Credit Aunt-unis and Explanation Feid—[n Capitai tum Treasmy Stuck Trmsacfims Retahed Earrings Treasury Steak—Cumnm Saki treasury stock behw east. item? Requirement 2. Prepare the Starhum's stucld‘iudders' equity sectiun at the haiance sheet as of December 31, 2016. Assume ' was authorized to issue 213m shares of preferred stuck and aiflflfiflfl shares ufcummuh stuck. Bum preferred stuck and cumr issued at par. The ending balance at retained earnings as uffleeember 31, 24315, is ELDBDHUE}. {Use parentheses er a minus amounts to be subtracted.) Shockhuiders' Equity Paid-In Capid: Prdened Stuck—Ha. 595 Far Vane; ‘ eerie“ shares aufiflxized, ‘ 1.2m‘ shares issued and maxim)" s 115.293‘ Cumnm Stuck—$3 Par Vane; ‘ meme" shares attiuxized, ‘ 23¢,{1flfl‘ shares issued ‘ 232.5“? shares Waning ‘ THEM? Tutsi Paid-h Capes 31129:)“ Retained Earl'mgs ‘ enema-rid TIeasmy Stock—69mm; ‘ 'I,'l'll}|'lll"l sha'es a cast 1‘ {12.19511 Tale! emu-W' Fail-u 5 2.395.1“1‘ ...
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