These account balances at December 31 relate to Sportaid Inc.: Accounts Payable.. Accounts Receivable Common Shares $ 51,700 Preferred Shares, $0.01, 81,350 890,000 shares issued 593 000 Retained Earnings
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- These account balances at December 31 relate to Sportaid Inc.: Accounts Payable... $ 51,700 Preferred Shares, $0.01, Accounts Receivable. 81,350 890,000 shares issued 89,000 Common Shares 593,000 Retained Earnings 71,800 Bonds Payable. 3,400 Notes Receivable. 12,500 If the average issue price of Sportaid's outstanding common shares is $11.86, how many common shares are issued and outstanding? A. 50,000 B. 593,000 C. 100,000 D. UnknownThese account balances at December 31 relate to Sportring Inc.: Accounts Payable... $ 51,200 Preferred Shares, $0.01, Accounts Receivable 82,050 840,000 shares issued Common Shares.. 594,000 Retained Earnings. . Bonds Payable 3,700 Notes Receivable If the board of directors declare a dividend of $22,000 on December 31, how much of this total would the common shareholders receive? No other dividends have been declared during the year. 84,000 71,400 12,9006. The following is a list of selected account balances taken from the December 31, 2021, general ledger of Selecta Corp. Account Payable 50,000 Accounts Receivable 45,500 Ordinary Share Capital 126,000 Paid in Capital in Excess of Par –Ordinary Share Capital 110,500 Paid in Capital in Excess of Par – Preferred Share Capital 10,250 Preference Share Capital 58,000 Preference Share capital Subscribed 6,000 Retained Earnings 20,500 Subscription Receivable –Preference 10,500 Compute first for the total paid-in capital then proceed to total stockholder’s equity for Selecta Corp. On December 31, 2021.
- 6. The following is a list of selected account balances taken from the December 31, 2021, general ledger of Selecta Corp. Account Payable 50,000 Accounts Receivable 45,500 Ordinary Share Capital 126,000 Paid in Capital in Excess of Par –Ordinary Share Capital 110,500 Paid in Capital in Excess of Par – Preferred Share Capital 10,250 Preference Share Capital 58,000 Preference Share capital Subscribed 6,000 Retained Earnings 20,500 Subscription Receivable –Preference 10,500 Compute for total stockholder’s equity for Selecta Corp. On December 31, 2021.At the beginning of 2018, Thompson Service, Inc., showed the following amounts in the stock-holders' equity section of its balance sheet. Stockholders' equity:Capital stock, $1 par value, 500,000 shares authorized,382,000 issued and outstanding……………………………….. $382,000Additional paid-in capital: capital stock………………………. 4,202,000 Total paid-in capital………………………………………… $4.584,000 Retained earnings……………………………………………... 2.704,600Total stockholders' equity…………………………………….. $7,288,600The transactions relating to stockholders' equity during the year are as follows. Jan.3 Declared a dividend of $1 per share to stockholders of record on January 31,payable on February 15Feb. 15 Paid the cash dividend declared on January 3. Apr. 12 The corporation purchased 6,000 shares of its own capital stock at a price of$40 per share. May 9 Reissued 4,000 shares of the treasury stock at a price of $44 per share. June1 Declared a 5 percent stock dividend to stockholders of record at June…Ayayai Corp. has these accounts at December 31: Common Stock, $10 par, 4,500 shares issued, $45,000; Paid-in Capital in Excess of Par $20,250; Retained Earnings $43,000; and Treasury Stock, 400 shares, $8,800. Prepare the stockholders' equity section of the balance sheet. (Enter account name only and do not provide descriptive information.) Ayayai Corp. Balance Sheet (Partial) SA
- Nexis Corp. issues 2,470 shares of $12 par value common stock at $17 per share. When the transaction is recorded, what credit entry or entries are made? Oa. Common Stock $29,640 and Paid-in Capital in Excess of Stated Value $12,350. Ob. Common Stock $29,640 and Paid-in Capital in Excess of Par Value $12,350. Oc. Common Stock $41,990. Od. Common Stock $12,350 and Retained Earnings $29,640.The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: $ 3,060,000 Common Stock, $45 par ... Paid-In Capital from Sale of Treasury Stock. Paid-In Capital in Excess of Par-Common Stock. 115,000 272,000 Retained Earnings 20,553,000 Treasury Stock.... 324,000 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 9,000 shares have been reacquired.At December 31, the records of Nortech Corporation provided the following selected and incomplete data: Common stock (par $1; no changes during the current year). Shares authorized, 500,000. Shares issued, 2; issue price $15 per share. Common Stock account, $130,000. Shares held as treasury stock, 2,300 shares, cost $13 per share. Net income for the current year. $51,080. Dividends declared and paid during the current year, $22,986. Retained Earnings balance, beginning of the year, $148,000. Required: Complete the following: TIP: To determine the number of shares issued, divide the balance in the Common Stock account by the par value per share. (Round "per share" answers to 2 decimal places.) 1-a. Shares authorized 1-b. Shares issued 1-c. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Dividends paid per share of common stock is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the…
- 7. On Dec. 31, 2018, selected accounts from the trial balance of Dimaculangan, Inc. shoed up the following balances. Debit Credit • Retained Earnings Subscribed Ordinary Shares, 2 000 shares P1 550 000 100 000 • Long-term Notes Payable 5% Preference Shares, P100 par Share Premium-Ordinary • Subscriptions Receivable Share Premium-Treasury • Organization Expense 600 000 1 500 000 1 350 000 P 120 000 280 000 200 000 Share Premium-Preference 850 000 • Ordinary Shares, P50 par • Donated Capital Treasury Stock, 450 shares at 2 500 000 590 000 40 000 Cost Dimaculangan was authorized by its articles of incorporation to issue 500 000 shares of P50 par ordinary shares and 25 000 shares of P100 par cumulative nonparticipating preference shares. Note that the subscriptions receivable are collectible next year. Required: Choose the appropriate shareholders' equity accounts from those listed above and prepare the shareholders' equity section of Dimaculangan, Inc.'s Dec. 31, 2018 statement of…At December 31, the records of Nortech Corporation provided the following selected and incomplete data: Common stock (par $1; no changes during the current year). Shares authorized, 500,000. Shares issued, 2; issue price $15 per share. Common Stock account, $130,000. Shares held as treasury stock, 2,300 shares, cost $13 per share. Net income for the current year, $51,080. Dividends declared and paid during the current year, $22,986. Retained Earnings balance, beginning of the year, $148,000. Required: Complete the following: TIP: To determine the number of shares issued, divide the balance in the Common Stock account by the par value per share. (Round "per share answers to 2 decimal places.) 1-a. Shares authorized 1-b. Shares issued 1-c. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Dividends paid per share of common stock is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount…The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: 1 Common stock, $45 par $3,141,000.00 2 Paid-In Capital from Sale of Treasury Stock 122,400.00 3 Paid-In Capital in Excess of Par-Common Stock 279,200.00 4 Retained Earnings 20,530,300.00 5 Treasury Stock 332,500.00 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 9,500 shares have been reacquired. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtractive or negative numbers use a minus sign.
