(Solution Download) Stockholders' equity section of balance sheet


a. Issued 100,000 shares of common stock at $5 each; 1,000,000 shares are authorized at $1 par value

 

b. Issued 10,000 shares of common stock for a building and land. The building was appraised for 20,000, but the value of the land was undetermined. The stock is selling at $10 on the open market

 

c. Purchased 1,000 shares of its own common stock on the open market for $16 per share

 

d. Declared a dividend of $0.10 per share on outstanding common stock. The dividend is to be paid after the end of the year of operations. Market value of the sock is $26

 

e. Declared a 2-for-1 stock split. The market value of the stock was $37 before the stock split.

 

There is no effect

 

f. Reported $180,000 of income for the year

 

I need to prepare the stockholders' equity section of balance sheet with information above. Please help

 







About this question:

Pay using PayPal (No PayPal account Required) or your credit card. All your purchases are securely protected by .
SiteLock