Pina purchased 2600 shares of its own previously issued $10 par common stock for $70200. As a result of this event,
Pina Common Stock account decreased $26000. |
Pina total stockholders’ equity decreased $70200. |
Pina Paid-in Capital in Excess of Par Value account decreased $44200. |
All of these answer choices are correct. |
Option B
Total Stockholder's Equity gets reduced when a company repurchases its own stock.
So, the purchase of treasury stock for 70,200 here will reduce the total stockholders equity by70, 200
Pina purchased 2600 shares of its own previously issued $10 par common stock for $70200. As...
Pina Colada Corp. has these accounts at December 31: Common Stock, $10 par, 5,600 shares issued, $56,000; Paid-in Capital in Excess of Par Value $19,100; Retained Earnings $44,100; and Treasury Stock, 510 shares, $11,220 Prepare the stockholders' equity section of the balance sheet. Pina Colada Corp. Balance Sheet (Partial)
Pina Colada Corp. has these accounts at December 31: Common Stock, $10 par, 5,600 shares issued, $56,000; Paid-in Capital in Excess of Par Value $19,100; Retained Earnings $44,100; and Treasury Stock,...
Pina Colada Corp. has these accounts at December 31: Common Stock, $10 par, 5,600 shares issued, $56,000; Paid-in Capital in Excess of Par Value $19,100; Retained Earnings $44,100; and Treasury Stock, 510 shares, $11,220 Prepare the stockholders' equity section of the balance sheet. Pina Colada Corp. Balance Sheet (Partial)
On January 1, Metlock, Inc. had 680000 shares of $10 par value common stock outstanding. On March 31 the company declared a 15% stock dividend. Market value of the stock was $20/share. As a result of this event, A.Metlock’s Paid-in Capital in Excess of Par Value account increased $1020000. B.Metlock’s total stockholders’ equity was unaffected. C.Metlock’s Stock Dividends account increased $2040000. D.All of these answer choices are correct.
On January 1, Windsor, Inc. had 660000 shares of $10 par value common stock outstanding. On March 31 the company declared a 15% stock dividend. Market value of the stock was $20/share. As a result of this event, A) Windsor’s Paid-in Capital in Excess of Par Value account increased $990000. B) Windsor’s total stockholders’ equity was unaffected. C) Windsor’s Stock Dividends account increased $1980000. D) All of these answer choices are correct Please show work
Pina Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 13%, $ 100 par (100,000 shares authorized, 28,000 shares issued)$ 2,800,000 Common stock, $ 1 par (1,000,000 shares authorized, 307,000 shares issued) 307,000 Additional paid-in capital-common 858,000 Retained earnings 1,379,000 Total $ 5,344,000 During 2020, Pina took part in the following transactions concerning stockholders’ equity. .1.Paid the annual 2019 dividend on preferred stock and a $ 0.50 per share dividend on common stock. These dividends had been declared on December...
Common Stock, $1 par (2,700,000
shares authorized, 705,000 shares issued and outstanding)
$705,000
Paid-in Capital in Excess of Par
Value
1,430,000
Retained Earnings
684,000
Accumulated Other Comprehensive Income
47,000
During 2022, the following transactions and events
occurred.
1.
Issued 45,500 shares of $1 par
value common stock for $2 per share.
2.
Issued 60,500 shares of common
stock for cash at $5 per share.
3.
Purchased 23,700 shares of common
stock for the treasury at $3.30 per share.
4.
Declared...
Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 800,000 256,000 928,000 $1,984,000 1. Prepare Journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock at $33 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $39 cash per share. c. Sold all remaining treasury shares on November 25 for...
To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with no-par value. Required: 1. Complete the table below, indicating the account, amount, and direction of the effect for the issuance of the no-par value stock at $50. 2. Prepare the journal entry for the issuance of the no-par value stock at $50. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the...
Please show all work. Thanks in advance
Pina Company has two classes of capital stock outstanding: 7%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 146,600 shares Common Stock, 1,998,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $ 2,932,000 9,990,000 201,000 26,651,000 4,581,000 The following transactions affected stockholders' equity during 2021. Jan. 1 Feb. 1 June 1...
Common Stock (.10 par, 15,000 shares authorized, 2000 shares issued and outstanding $ 200 Paid-In Capital in Excess of Par $49,000 Retained Earnings $28,000 Treasury Stock $15.000 What is the total stockholders' equity based on the above account balances? $62,200 O $28,000 none of the above $92200 Next → DOLL