Question
4. Onyx Corporation had the following balances in its stockholders' equity accounts at December 31, 2014: (25 Points) Common Stock, $25 par, 100,000 shares authorized,
4. Onyx Corporation had the following balances in its stockholders' equity accounts at December 31, 2014: (25 Points)
Common Stock, $25 par, 100,000 shares authorized, 10,000 shares issued | $250,000 |
Contributed Capital in Excess of Par Value, Common | 125,000 |
Retained Earnings | 450,000 |
Treasury Stock, 2,000 shares | (60,000) |
Total stockholders equity | $765,000 |
The following transactions occurred during 2015:
April 30 | Sold and issued 5,000 shares of common stock for $32 per share. |
June 11 | Declared a $1.50 per share dividend on common stock. |
September 22 | Sold 200 shares of the treasury stock for $30 per share. |
December 31 | Net income for the year was determined to be $55,000 |
Based on the above information, prepare a statement of stockholders' equity for 2013. Use the form below.
ONYX CORPORATION Statement of Stockholders Equity | |||||
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Common Stock | Contributed Capital in Excess of Par Value, Common |
Retained Earnings |
Treasury Stock |
Total |
Balance, December 31, 2014 |
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Net income |
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Balance, December 31, 2015 |
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Please explain how you calculated the answers, thank you.
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