The stockholders’ equity of Crater, Inc. at December 31, 2017, appears below: Common stock, $25 par...
The stockholders’ equity of Crater, Inc. at December 31, 2017, appears below:
|
Common stock, $25 par value, 200,000 shares authorized,135,000 shares issued and outstanding |
3,375,000 |
|
Paid-in capital in excess of par value |
1,750,000 |
|
Retained earnings |
2,575,000 |
During 2018, the following transactions occurred:
Jan 1 Sold 50,000 Shares of preferred stock at $75, par is $50, stated rate of return is 5%
May 10: Declared a 10% common stock dividend when market value was $50 per share
June 15 Repurchased 5,000 share of common stock at $32
August 31: Issued the stock dividend declared on May 10.
December 10: Declared a cash dividend of $300,000 to be paid in December 2018.
December 31: Recognized net income of $ 1,630,500.
- What is the amount, if any of the APIC for the preferred stock? ____________
- What is the amount is the treasury stock, if any? ____________
- What is the dividend per share of common stock, if any? ___________
- How many shares of common stock are outstanding at year end? _______
- What is the ending balance of Retained earnings? ____________
- What is the ending balance of total equity? ______________
Homework Answers
a) APIC for the preferred stock = (75-50)*50000 = $1250000
b) Amount is the treasury stock = 5000*32 = 160000
c) Dividend per share of common stock =
Preferred dividend = 50000*50*5% = 125000
Common Stock = 300000-125000 = 175000
Share outstanding = 135000*1.1-5000 = 143500
Dividend per share of common Stock = 175000/143500 = 1.22 per share
d) Common stock outstanding = 135000*1.1-5000 = 143500
e) Ending balance of retained earnings = 2575000-(13500*50)-300000+1630500 = 3230500
f) Total equity = 3375000+1750000+(50000*75)+3230500+(13500*50)-(5000*32) = 41420500
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Kohler Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$15 par...
Kohler Corporation reports the following components of
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100,000 shares authorized,
40,000 shares issued and outstanding
$
600,000
Paid-in capital in excess of par
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80,000
Retained earnings
400,000
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$
1,080,000
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equity accounts.
Jan.
1
Purchased 4,500 shares of its own
stock at $15 cash per share.
Jan.
5
Directors declared a $2 per share
cash dividend...
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Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par...
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Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$15 par...
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stockholders’ equity on December 31, 2017.
Common stock—$15 par value,
100,000 shares authorized,
40,000 shares issued and outstanding
$
600,000
Paid-in capital in excess of par
value, common stock
80,000
Retained earnings
400,000
Total stockholders' equity
$
1,080,000
In year 2018, the following transactions affected its stockholders’
equity accounts.
Jan.
1
Purchased 4,500 shares of its own
stock at $15 cash per share.
Jan.
5
Directors declared a $2 per share
cash dividend...
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