(Stock Issuances and Repurchase)
Loxley Corporation is authorized to issue 50,000 shares of $10 par value common stock. During 2012,
Loxley took part in the following selected transactions.
Issued 5,000 shares of stock at $45 per share, less cost
P191 (Three Differences, No Beginning Deferred Taxes, Multiple Rates) The following information is available for Remmers Corporation for 2012.
1. 2. 3. 4. 5. 6.
Depreciation reported on the tax return exceeded depreciation reported on the income statement
(Entries for Bond
Foreman Company issued
$800,000 of 10%, 20-year
bonds on January 1, 2013, at
102. Interest is payable
semiannually on July 1 and
January 1. Foreman Company
uses the straight-line method of
The outstanding capital stock of
Pennington Corporation consists of
2,000 shares of $100 par value, 6%
preferred, and 5,000 shares of $50
par value common.
Assuming that the company has
retained earnings of $70,000, all of
(Dividends and Stockholders' Equity Section)
Elizabeth Company reported the following amounts in the stockholders' equity section of its December 31,
2012, balance sheet.
Preferred stock, 8%, $100 par (10,000 shares authorized, 2,000 shares issued)
(Entries for Stock Dividends and Stock Splits)
The stockholders' equity accounts of Lawrence Company have the following balances on December 31,
Common stock, $10 par, 200,000 shares issued and outstanding
(Recording the Issuances of Common Stock)
During its first year of operations, Sitwell Corporation had the following transactions pertaining to its
10 Issued 80,000 shares for cash at $6 per share.
1 Issued 5,000 shares to at