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B-14.08 Problem

B-14.08 Problem - Declared and issued a 5 stock...

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B-14.08 Pasquali Corporation was incorporated on January 1, 20X4. The following equity-related transactions occurred during 20X4. Evaluate these activities and prepare a statement of stockholders' equity for the year ending December 31, 20X4. Issued 4,000,000 shares of $1 par value common stock at $3 per share.
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Unformatted text preview: Declared and issued a 5% stock dividend (200,000 shares) at a time when the market value the stock was $6 per share. Reacquired 15,000 treasury shares at $5 per share. Declared and paid cash dividends of $100,000. Reported net income for the full year of $1,500,000....
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