Gfeller Enterprises began fiscal 2019 with the following shareholders equity information: Common stock shares issued 39,598,900, $0.01
Question:
Gfeller Enterprises began fiscal 2019 with the following shareholders’ equity information:
Common stock shares issued 39,598,900, $0.01 par value,
paid-in capital in excess of par value, ..................................... $640,078,000.
Retained earnings deficit balance, .............................................. ($25,436,000).
Accumulated Other Comprehensive Income ........................... $1,760,000
Treasury stock shares held 2,549,041, cost .............................. $38,235,615.
During the period, Gfeller issued 15,000 shares for $16.50 per share and reissued 188,549 treasury stock shares at $19.00 per share. Gfeller had a net income of $77,508,000 during fiscal 2019 and declared dividends of $23,719,000. Gfeller had $500,000 of unrealized gains (after tax) on Available-for-Sale Securities during the year. Determine the ending balances of the shareholders’ equity accounts.
Step by Step Answer:
Introduction To AccountingAn Integrated Approach
ISBN: 9781119600107
8th Edition
Authors: Penne Ainsworth, Dan Deines