1.2.3.4.5.

The corporation issues 5400 shares of common stock for $96 per share. How much cash did the corporation receive? Record the balances in the equity section after this transaction has been recorded. Hint: Record the beginning equity account balances in the accounting equation format. Then record the balanced transaction to issue stock. Finally, compute the ending balances for the accounts that were involved in the transaction. Stockholders Equity Before Transaction After Transaction $592000 Common stock, 200000 shares authorized, 74000 shares issued, 66600 shares outstanding, $8 par value. Contributed capital in excess of par value, Common Stock $1776000 $ Retained Earnings $221000 Treasury Stock $(177600) Total Stockholders Equity $2411400 Consider the following equity section of a balance sheet for a corporation. How many shares of common stock are in the treasury? What did the corporation pay for the treasury stock? Common stock, 800000 shares authorized, 76000 shares issued, 72200 shares outstanding, $10 par value. $760000 Contributed capital in excess of par value, Common Stock $3040000 Retained Earnings $400000 Treasury Stock $(114000) Total Stockholders Equity $4086000 On June 1, the corporation declares a $4 per share dividend on the common stock to be paid on July 15. Record the balances in the equity section after the June 1 transaction has been recorded. Stockholders Equity After Transaction Before Transaction Common stock, 200000 shares authorized, 69000 shares issued, 65550 shares outstanding, $11 par value. $759000 Contributed capital in excess of par value, Common Stock $3036000 Retained Earnings $1104000 Treasury Stock $(151800) $( Total Stockholders Equity $4747200 On June 8, the corporation declares a 2-for-1 split on the common stock. What is the par value per share of common stock after the transaction? How many shares of common stock are outstanding after the transaction? Record the balances in the equity section after the June 8 transaction has been recorded. Stockholders Equity After Transaction Before Transaction $252000 Common stock, 800000 shares authorized, 14000 shares issued, 13300 shares outstanding, $18 par value. Contributed capital in excess of par value, Common Stock $1008000 $ Retained Earnings $98000 Treasury Stock $(50400) $ Total Stockholders Equity $1307600