In excess of parpreferred 80000 in excess of

In excess of par—preferred ............................. $ 80,000
In excess of par—common .............................. 120,000 200,000
Total paid-in capital .................................. 800,000
Retained earnings 133,300 *
Total stockholders’ equity ....................... $933,300
*($175,700 – $5,400 – $37,000)

PROBLEM 15-2
February 1
(a) Treasury Stock ($19 X 2,000) .................................... 38,000
Cash ................................................ 38,000
March 1
Cash ($17 X 800) ........................................................ 13,600
Retained Earnings ($2 X 800) ................................... 1,600
Treasury Stock ($19 X 800) ........... 15,200
March 18
Cash ($14 X 500) ........................................................ 7,000
Retained Earnings ($5 X 500) ................................... 2,500
Treasury Stock ($19 X 500) ........... 9,500
April 22
Cash ($20 X 600) ........................................................ 12,000
Treasury Stock ($19 X 600) ........... 11,400
Paid-in Capital from Treasury
Stock ........................................... 600
(b) CLEMSON COMPANY
Stockholders’ Equity
April 30, 2017
Common stock, $5 par value, 20,000 shares
issued, 19,900 shares outstanding ..................... $100,000
Paid-in capital in excess of par—
common stock ...................................................... 300,000
Paid-in capital from treasury stock ......................... 600
Total paid-in capital ....................................... $400,600
Retained earnings* ................................................... 445,900
846,500
Less: Treasury stock (100 shares)** ...................... 1,900
Total stockholders’ equity ............................ $844,600
*Retained earnings (beginning balance) ................ $320,000
March 1 reissuance ................................................. (1,600)
March 18 reissuance ............................................... (2,500)
Net income for period .............................................. 130,000
Retained earnings (ending balance) ...................... $445,900

PROBLEM 15-2 (Continued)
**Treasury stock (beginning balance) ..................... $ 0
February 1 purchase (2,000 shares) .................... 38,000
March 1 sale (800 shares) ..................................... (15,200)
March 18 sale (500 shares) ................................... (9,500)
April 12 sale (600 shares) ...................................... (11,400 )
Treasury stock (ending balance) .......................... $ 1,900

PROBLEM 15-3
HATCH COMPANY
Stockholders’ Equity
December 31, 2018
Capital Stock
Preferred stock, $20 par,
8%, 180,000 shares issued
and outstanding ......................................... $ 3,600,000
Common stock, $2.50 par,
4,100,000 shares issued,
4,080,000 shares outstanding .................. 10,250,000
Total capital stock ................................. $13,850,000
Additional paid-in capital
In excess of par—preferred ......................... $ 260,000
In excess of par—common .......................... 27,750,000
From treasury stock ..................................... 10,000 28,020,000
Total paid-in capital .............................. 41,870,000
Retained earnings ................................................ 4,272,000
Total paid-in capital and retained earnings ....... 46,142,000
Less: Treasury stock
(20,000 shares common) .......................... 200,000
Total stockholders’ equity .................... $45,942,000
Supporting balances are indicated in the following T-Accounts.
Preferred Stock
Bal. 3,000,000
1. 600,000
3,600,000
Paid-in Capital in Excess of
Par—Common Stock
Bal. 27,000,000
4. 750,000
27,750,000

PROBLEM 15-3 (Continued)
Common Stock
Bal. 10,000,000
3. 250,000
10,250,000
Retained Earnings
Bal. 4,500,000
8. 288,000 10. 2,100,000
9. 2,040,000
4,272,000
Paid-in Capital in Excess of Par—
Preferred Stock
Bal. 200,000
2. 60,000
260,000
Treasury Stock
5. 300,000 6. 100,000
200,000
Paid-in Capital from Treasury
Stock
7. 10,000
10,000
1. Jan. 1 30,000 X $20
2. Jan. 1 30,000 X $2
3. Feb. 1 50,000 X $5
4. Feb. 1 50,000 X $15
5. July 1 30,000 X $10
6. Sept. 15 10,000 X $10
7. Sept. 15 10,000 X $1
8. Dec. 31 3,600,000 X 8%
9. Dec. 31 4,080,000* X 50¢
*[(2,000,000 + 50,000) X 2] – 30,000 + 10,000
10. Dec. 31 Net income