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stockholders’ equity section of Kingman Corporation On January 1, 2013, the stockholders’ equity section of Kingman Corporation shows: common stock ($5 par value) $2,000,000; paid-in capital in excess of par value $1,200,000; and retained earnings $1,500,000. During the year, the following treasury stock transactions occurred. Mar. 1 Purchased 60,000 shares for cash at $12 per share. July 1 Sold 15,000 treasury shares for ...

Other / Other 25 Mar 2016

book value per share of common stock On December 31, 2013, Colaw Company reports the following amounts in its stockholder’ equity section: Common stock ($5 par) $2,400,000 Paid-in capital in excess of stated value–common 900,000 Retained earnings 1,780,000 Treasury stock–common 180,000 The common stock has a stated value of $10 per share. One million shares of common stock are authorized and 40,000 shares ar ...

Other / Other 25 Mar 2016

return on common stockholders' equity The following information is available for Gaynor Corporation: Beginning common stockholders' equity $700,000 Dividends paid to common stockholders 50,000 Dividends paid to preferred stockholders 30,000 Ending common stockholders' equity 1,000,000 Net income 200,000 Instructions Based on the preceding information, calculate return on common stockholders' equity. Business Management As ...

Other / Other 25 Mar 2016

stockholders' equity section of Kennedy Company's Kennedy Company reported the following balances at December 31, 2012: common stock $500,000; paid-in capital in excess of par value $200,000; retained earnings $350,000. During 2013, the following transactions affected stockholders' equity. 1. Issued preferred stock with a par value of $250,000 for $290,000. 2. Purchased treasury stock (common) for $70,000. 3. Earned net income of $2 ...

Other / Other 25 Mar 2016

the business for the protection of corporate 1. Par value of stock represents the __________________ per share that must be retained in the business for the protection of corporate ___________________. 2. If stock is issued in exchange for noncash assets, the assets should be valued at the ____________________ of the consideration ___________________ or the assets ____________________, whichever is more clearly evident. 3. A co ...

Other / Other 25 Mar 2016

Corporations sometimes segregate retained earnings 1. Three important dates associated with dividends are the: (1)__________________, (2)__________________, and (3)__________________. 2. The entry to record the declaration of a stock dividend increases _______________, and decreases ________________. 3. Both a stock split and a stock dividend will _________________ the number of shares outstanding and have _________________ ...

Other / Other 25 Mar 2016

stockholders' equity section of Morgan Company's Morgan Company reported the following balances at December 31, 2012: common stock $500,000; paid-in capital in excess of par value $100,000; retained earnings $250,000. During 2013, the following transactions affected stockholders’ equity. 1. Issued preferred stock with a par value of $150,000 for $200,000. 2. Purchased treasury stock (common) for $40,000. 3. Earned net income of ...

Other / Other 25 Mar 2016

dividends and dividends payable reported in the financial statements On January 1, Staley Corporation had 80,000 shares of no-par common stock issued. 5,000 shares are held as treasury stock. The stock has a stated value of $5 per share. During the year, the following transactions occurred. Apr. 1 Issued 12,000 additional shares of common stock for $18 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record ...

Other / Other 25 Mar 2016

stockholders' equity section at December 31, 2013 The following accounts appear in the ledger of Fall Inc. after the books are closed at December 31, 2013. Common Stock, $1 par value, 500,000 shares authorized, 400,000 shares issued $400,000 Common Stock Dividends Distributable 60,000 Paid-in Capital in Excess of Par—Common Stock 650,000 Preferred Stock, $100 par value, 6%, 10,000 shares authorized; 2,000 shares iss ...

Other / Other 25 Mar 2016

information is available for Gordon Corporation The following information is available for Gordon Corporation: Common stock ($5 par) $500,000 Paid-in capital in excess of par–common 200,000 Retained earnings 180,000 Treasury stock 70,000 Common shares issued 100,000 shares Common shares outstanding 90,000 Instructions Based on the preceding information, calculate the book value per share. Business Management ...

Other / Other 25 Mar 2016