Chapter 11 hw - M11-2 Authorized Shares Shares Outstanding...

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Authorized Shares 268,000 Shares Outstanding (168,000) Treasury stock 10,000 Issuable shares 110,000 M11-7 April 15 Retained earnings (-SE) 65,000 Dividends payable (+L) 65,000 June 14 th Dividends Payable (-L) 65,000 Cash (-A) 65,000 E11-5 1. a. Cash (+A) $112,000 Common Stock (+SE) 56,000 Capital in excess of par (+SE) 56,000 b. Cash (+A) 25,000 Common Stock (+SE) 10,000 Capital in excess of par (+SE) 15,000 c. Retained earnings (-SE) 6,000 Cash (-A) 6,000 2. Butler Corporation Partial Balance Sheet At December 31 st , 2009 Stockholders’ Equity Contributed capital Common stock (par value $10; authorized 11,500 shares, issued and outstanding 6,600 shares) $66,000 Capital in excess of par, common stock 71,000 Total contributed total 137,000 Retained Earnings (6,000) Total contributed Capital and retained earnings 131,000 Total stockholders’ equity 131,000 3. The company cannot pay any dividends. Dividends are portion of profit shared with the stockholders, but since there is no profit to share with the owners, no dividends can be given out. E11-9
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Chapter 11 hw - M11-2 Authorized Shares Shares Outstanding...

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