Recent Question

return on common stockholders’ equity is computed 1. The return on ________________ shows how many dollars of net income were earned for each dollar invested by owners. 2. The return on common stockholders’ equity is computed by dividing _____________ minus _______________ dividends by average common stockholders’ equity. 3. The paid-in capital section of the balance sheet consists of two classificatio ...

Other / Other 25 Mar 2016

corporation's stock is traded on the major stock exchanges 1. A corporation has a separate __________________________ apart from its owners. 2. The major advantages of the corporate form of organization include (1) limited _________________ of owners, (2) continuous ____________________ and (3) ease of transferring ___________________. 3. Stockholders elect the _______________, who in turn hire the ______________ of the compan ...

Other / Other 25 Mar 2016

stockholders’ equity section of the balance sheet at December 31, 2013. The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Star Corporation at December 31, 2013. Common Stock ($5 stated value) $2,200,000 Paid-in Capital in Excess of Par—Preferred Stock 280,000 Paid-in Capital in Excess of Stated Value—Common Stock 800,000 Preferred Stock (8%, $100 par, noncumulativ ...

Other / Other 25 Mar 2016

retained earnings statement for 2013 Rex Company reported retained earnings at December 31, 2012, of $410,000. Reese had 160,000 shares of common stock outstanding throughout 2013. The following transactions occurred during 2013. 1. An error was discovered in 2011, depreciation expense was recorded at $60,000, but the correct amount was $50,000. 2. A cash dividend of $0.50 per share was declared and paid. 3. A 5% stock dividend was de ...

Other / Other 25 Mar 2016

retained earnings statement for the year On January 1, 2013, Catlin Corporation had Retained Earnings of $400,000. During the year, Catlin had the following selected transactions: 1. Declared stock dividends of $50,000. 2. Declared cash dividends of $90,000. 3. A 2 for 1 stock split involving the issuance of 200,000 shares of $5 par value common stock for 100,000 shares of $10 par value common stock. 4. Suffered a net loss of $70,000. ...

Other / Other 25 Mar 2016

appropriate subdivision of the stockholders' equity section of a balance sheet Place each of the items listed below in the appropriate subdivision of the stockholders' equity section of a balance sheet. Common stock, $10 stated value Retained earnings 8% Preferred stock, $100 par value Paid-in capital in excess of par Paid-in capital in excess of stated value Treasury stock—Common Paid-in capital from treasury stock ...

Other / Other 25 Mar 2016

information is available for Macon Corporation The following information is available for Macon Corporation: Common Stock ($10 par) $1,500,000 Paid-in Capital in Excess of Par—Preferred 200,000 Paid-in Capital in Excess of Stated Value—Common 750,000 Preferred Stock 450,000 Retained Earnings 800,000 Treasury Stock—Common 50,000 Instructions Based on the preceding information, calculate each of the following: ...

Other / Other 25 Mar 2016

transactions for Quik Corporation Record the following transactions for Quik Corporation on the dates indicated. 1. On March 31, 2013, Quik Corporation discovered that Depreciation Expense on equipment for the year ended December 31, 2012, had been recorded twice, for a total amount of $84,000 instead of the correct amount of $42,000. 2. On June 30, 2013, the company's internal auditors discovered that the April 2013 telephone bill for $ ...

Other / Other 23 Mar 2016

journal entries that should be made by Maria Corporation The stockholders' equity section of Maria Corporation at December 31, 2012, included the following: 5% preferred stock, $100 par value, cumulative, 10,000 shares authorized, 8,000 shares issued and outstanding $ 800,000 Common stock, $10 par value, 250,000 shares authorized, 200,000 shares issued and outstanding $2,000,000 Dividends were not declared on the preferred sto ...

Other / Other 23 Mar 2016

the declaration of the cash dividend Sleep Corporation was organized on January 1, 2012. During its first year, the corporation issued 40,000 shares of $5 par value preferred stock and 400,000 shares of $1 par value common stock. At December 31, the company declared the following cash dividends: 2012 $ 8,000 2013 $30,000 2014 $70,000 Instructions (a) Show the allocation of dividends to each class of stock, assuming the preferr ...

Other / Other 23 Mar 2016