help please Required Information[The following information applies to the questions displayed below.]The stockholders' equity section of TVX Company on February 4 follows.Common stock-$10 par value, 150,000 shares authorized, 61,000shares issued and outstandingPaid-in capital in excess of par value, common stockRetained earningsTotal stockholders' equity$ 610,000422,000551,000$1,583,000On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders ofrecord. The stock's market value is $31 per share on February 5 before the stock dividend. 1 Prepare entries to record both the dividend declaration and its distribution.1View transaction DetView transaction etCommon stock-$10 par value, 150,000 shares authorized, 61,000shares issued and outstandingPaid-in capital in excess of par value, common stockRetained earningsTotal stockholders' equityOn February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders ofrecord. The stock's market value is $31 per share on February 5 before the stock didend.DlateFebruary 29No1Record entry2Journal entry worksheetRecord the distribution of a 2% stock dividend.Note: Ferdebits before creditsDateFebruary 05INGREATIFebruary 28General JournalView journal entry worksheetClear andryNo Transaction RecordedNo Transaction RecordedDebit CreditMaw general journalrepte entries to record the dividend doctaration and itc dictributionGeneral JournalView transaction SalJournal entry worksheetRecord the declaration of a 2% stock dividend.Note: Enter cebits before credits.DateFebruary 05Record entryGeneral Journal$ 610,000422,000551,000$ 1,583,000Clear entryView generat cumetDebitrampasRetained earningsTotal stockholders equityCreditOn February 5, the directors declare a 2% stock dividend distributrecord. The stock's market value is $31 per share on February 5 b2. Prepare the stockholders' equity section after the stock dividend is disTVX COMPANYStockholders' Equity Section of the Balance SheetFebruary 28Common stock-$10 par valuePaid-in capital in excess of par value, common stockRetained earningsTotal stockholders' equity$10

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Cornerstones of Financial Accounting

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Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

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Outstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.
Stockholders' Equity section of balance sheet The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Prepare the Stockholders Equity section of the balance sheet as of June 30. Eighty thousand shares of common stock are authorized, and 9,000 shares have been reacquired.
Prepare the stockholders equity section of the balance sheet based on the following account balances: Common stock, 2 par, 60,000 shares 120,000 Preferred stock, 10 par, 5%, 4,000 shares 40,000 Common stock subscribed, 2 par, 3,000 shares 6,000 Retained earnings 17,000 The answers to the Self-Study Test Questions are at the end of the chapter (pages 811812).
Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. (a)Received 20,000 for the balance due on subscriptions for preferred stock with a par value of 40,000 and issued the stock. (b)Purchased 10,000 shares of common treasury stock for 18 per share. (c)Received subscriptions for 10,000 shares of common stock at 19 per share, collecting down payments of 45,000. (d)Issued 15,000 shares of common stock in exchange for land with a fair market value of 290,000. (e)Sold 5,000 shares of common treasury stock for Si00,000. (f)Issued 10,000 shares of preferred stock at 11.50 per share, receiving cash. (g)Sold 3,000 shares of common treasury stock for 17 per share. REQUIRED 1. Prepare general journal entries for the transactions, identifying each transaction by letter. 2. Post the journal entries to appropriate T accounts. The cash account has a beginning balance of 300,000. 3. Prepare the stockholders equity section of the balance sheet as of December 31, 20--. Net income for the year was 825,000 and dividends of 400,000 were paid.
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. The bonds are classified as a held-to-maturity long -term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method . q. Accrued interest for three months on the Dream Inc. bonds purchased in (I). r. Pinkberry Co. recorded total earnings of 240 ,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39. 02 per share on December 31, 2016. The investment is adjusted to fair value , using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. ( Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016.
Selected stock transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: a. Issued 200,000 shares of common stock at 12, receiving cash. b. Issued 8,000 shares of preferred 2% stock at 115. c. Purchased 175,000 shares of treasury common for 10 per share. d. Sold 110,000 shares of treasury common for 14 per share. e. Sold 30,000 shares of treasury common for 8 per share. f. Declared cash dividends of 1.25 per share on preferred stock and 0.08 per share on common stock. g. Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry by letter.
Required information [The following information applies to the questions displayed below.] The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) $ 189,600 179,200 400,000 768,800 (30,000) Common stock-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock $ 160,000 120,000 320,000 $ 600,000 Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $0.50 per share cash dividend, date of record January 10. March 20 April 5 July 5 July 31…
The stockholders' equity section of Riverbed Corporation's balance sheet as of December 31, 2025 is as follows: Stockholders' Equity Common stock, $5 par value; authorized, 1,900,000 shares; issued, 380,000 shares Paid-in capital in excess of par Retained earnings The following events occurred during 2026: 1. 2. 3. 4. 5. 6. 7. Jan. 5 Jan. 16 Feb. 10 March 1 April 1 July 1 Aug, 1 $1,900,000 825,000 3,200,000 $5,925,000 28,000 shares of authorized and unissued common stock were sold for $8 per share. Declared a cash dividend of 20 cents per share, payable February 15 to stock-holders of record on February 5. 40,000 shares of authorized and unissued common stock were sold for $11 per share. A 30% stock dividend was declared and issued. Fair value per share is currently $14. A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Fair value on March 31 was $18 per share. A 15% stock dividend was declared and issued. Fair value is currently $10…
Sheffield Corp. has these accounts at December 31: Common Stock, $12 par, 6,000 shares issued, $72,000; Paid-in Capital in Excess of Par Value $19,500; Retained Earnings $44,500; and Treasury Stock, 550 shares, $12,100. Prepare the stockholders' equity section of the balance sheet. Sheffield Corp. Balance Sheet (Partial) December 31 $ $1
Required information [The following information applies to the questions displayed below.] The stockholders' equity of TVX Company at the beginning of the day on February 5 follows. Common stock-$10 par value, 150,000 shares authorized, 58,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings 580,000 $ 423,000 551,000 Total stockholders' equity $1,554,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $36 per share on February 5 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution.
Required information [The following information applies to the questions displayed below.] The stockholders' equity section of TVX Company on February 4 follows. Common stock-$10 par value, 150,000 shares authorized, 61,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity On February 5, the directors declare a 2 % stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $41 per share on February 5 before the stock dividend. $ 610,000 422,000 555,000 $ 1,587,000 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) TVX COMPANY Stockholders' Equity Section of the Balance Sheet February 28 Total stockholders' equity
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Common Stock, $15 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock Retained Earnings Treasury Stock (715 Shares at Cost) Total Stockholders' Equity $657,000 27,000 17,520 Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 715 shares have been reacquired. ✓ 1,031,000 ✓ 13,585 Paid-In Capital: Common Stock, $45 Par (80,000 Shares Authorized, 14,600 Shares Issued) Excess Over Par Paid-in capital, common stock From Sale of Treasury Stock Total Paid-In Capital Goodale Properties Inc. Stockholders' Equity June 30 QOOQ

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