2024 – 1 Listed below are six events involving a corporation s stockholders equity Insert the words increase decrease
Accounting 4 – 2024
2024 – 1 Listed below are six events involving a corporation s stockholders equity Insert the words increase decrease.
________________________________________________________________________________
listed
1. Listed below are six events involving a corporation’s stockholders’ equity. Insert the words “increase,” “decrease,” or “no effect” under the appropriate column heading to indicate the event’s effect on total paid-in capital, retained earnings, and total stockholders’ equity.
> 
> 
> 
> 
> 
> 
> > > > > > 
|
> > > > > > 
|
Total Paid-In Capital |
> > > > > > 
|
Retained Earnings |
> > > > > > 
|
Total Stockholders’ Equity |
|
(1) |
Issued 5,000 shares of common stock for cash at a price higher than par value. |
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
|
(2) |
Split common stock 2 for 1. |
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
>(3) |
Purchased 1,000 shares of own common stock for treasury. |
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
|
(4) |
Issued 500 shares of preferred stock in exchange for new equipment. |
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
|
(5) |
Treasury common stockSold 400 shares of treasury common stock at a price higher than the shares’ reacquisition cost. |
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
|
(6) |
Issued 800 shares of common stock for land whose fair value equaled the par value of the shares issued. |
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> 
> 
> 
> 
> 
> 
2. Harmon Helmets purchased equipment for $62,000 cash, sold equipment costing $36,000 with a book value of $22,000 at a loss, and declared dividends during 2013. No new notes payable were issued during the year. Financial data follows:
> > > > > > 
|
Dec. 31, 2013 |
Dec. 31, 2012 |
Change |
|
|
2013 |
|
Cash |
$44,600 |
$43,000 |
$1,600 |
> > > > > > 
|
Sales revenue |
$850,000 |
|
Accounts receivable |
31,200 |
13,800 |
17,400 |
> > > > > > 
|
Cost of sales |
425,000 |
|
Inventory |
28,000 |
21,000 |
7,000 |
> > > > > > 
|
Salaries expense |
135,000 |
|
Equipment |
180,000 |
154,000 |
21,000 |
> > > > > > 
|
Depreciation expense |
18,000 |
|
Accum. depreciation |
(46,000) |
(42,000) |
1,000 |
> > > > > > 
|
Interest expense |
3,500 |
|
Accounts payable |
25,400 |
36,400 |
(11,000) |
> > > > > > 
|
Loss on sale of equipment |
3,000 |
|
Unearned revenue |
16,200 |
21,200 |
(5,000) |
> > > > > > 
|
Income taxes expense |
44,000 |
|
Accrued salaries |
7,000 |
8,800 |
(1,800) |
> > > > > > 
|
Net income |
$221,500 |
|
Taxes payable |
11,600 |
8,000 |
3,600 |
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
|
Long-term notes pay. |
37,000 |
55,000 |
(18,000) |
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
|
Common stock |
90,000 |
28,000 |
62,000 |
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
|
Retained earnings |
50,600 |
32,400 |
18,200 |
> > > > > > 
|
> > > > > > 
|
> > > > > > 
|
> 
> 
> 
> 
> 
> 
Calculate cash flows from operations using the indirect method for 2013.
3. The following schedule of information relates to Page Products for the year, 2013:
> 
> 
> 
> 
> 
> 
Income statement data:
Sales $580,000
Depreciation expense 21,000
Net income 77,000
Cash receipts:
From issuance of common stock $44,000
From sale (at book value) of stock investment 28,000
Cash payments:
For purchase of land $124,000
To stockholders as dividends 22,000
To payoff notes payable 14,000
Change in working capital accounts:
Cash increase $5,000
Accounts receivable increase 6,000
Inventory decrease 3,000
Accounts payable decrease 4,000
Accrued liabilities increase 2,000
> 
> 
> 
> 
> 
> 
The cash balance was $22,000 at the beginning of 2013. In good form, prepare a 2013 statement of cash flows for Page Products using the indirect method.
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
Need assignment writing services that are 100% risk-free. Our writers are capable of providing the best assignment help to students in globally at best rates.
Assignment online is a team of top-class experts whose only goal is to give you the best assignment help service. Follow the link below to order now...
#write essay #research paper
