ACC 211 Challenge #8 Name CAPITAL STOCK TRANSACTIONS The balances in the stockholders' equity accounts of Waters Corporation on January 1, 2013 were: 10%, Preferred Stock ($100 par, noncumulative, 7,500 shares authorized S 207,500 Paid-in Capital in Excess of Par Value Preferred Stock 60,000 Common Stock (S 10 par value, 350,000 shares authorized) 654,000 Paid-in Capital in Excess of Par Value Common Stock 1,470,000 Retained Earnings 332,000 Treasury Stock Common (10,400 shares) 124,800 Challenge: Using the journal on the next page, prepare journal entries for the above equity transactions AND the closing entry. 2. Post the journal entries into the ledger accounts) provided and update balances 3. Complete the attached balance sheet as of December 31, 2013 (be sure to fill in ALL blanks) 4. Answer the following question a. How many shares of preferred stock were issued as of January 1, 2013? b. What is the dividend rate per share on the preferred stock? What was the per share price of treasury stock held on January 1, 2013? d. What is the par value per share of common stock on December 31, 2013? e. What is the earnings per share of this company on December 31, 2013? (The weighted average shares of common stock outstanding was 185,530 Earnings per Share Net Income Preferred Dividends Weighted average common shares outstanding During 2013, the corporation had the following transactions related to equity Note: post the journal entries after each transaction NUMBER OF COMMON SHARES ISSUED TREASURY OUTSTANDING 65,400 10.400 55.000 Jan. 1 Beginning shares Feb. 8 issued 40,000 shares of common stock at $14 per share Mar. 22 Purchased 17,000 additional shares of treasury stock at $12 per share Sold 14,000 shares of treasury stock at $13 per share. May 3 Declared a 5% stock dividend when stock's market price is $11 per share Jul. 28 sued shares from stock dividend on July 28 Aug. 15 13 Declared a $.25 per share cash dividend on common stock. Sep Oct Paid cash dividends declared on Sept. 13 Nov. 25 Sold 12,400 shares of treasury stock at $9 per share stockholders Nov. 30 Announced a 2:1 stock split and sent new shares of stock to existin ssued 10,000 shares of common stock for $8 per share Dec. 15 Dec. 20 Declared the regular cash dividend on preferred stock Dec. 28 Paid cash dividends declared on December 20th income for the year was $196,000 closed Income Summary Dec. 31 Determined that the n Dec. 31 Ending shares