Question
Bonita Company has two classes of capital stock outstanding: 7%, $20 par preferred and $5 par common. At December 31, 2017, the following accounts were
Bonita Company has two classes of capital stock outstanding: 7%, $20 par preferred and $5 par common. At December 31, 2017, the following accounts were included in stockholders equity. Preferred Stock, 143,700 shares $ 2,874,000 Common Stock, 1,980,000 shares 9,900,000 Paid-in Capital in Excess of ParPreferred Stock 209,000 Paid-in Capital in Excess of ParCommon Stock 26,891,000 Retained Earnings 4,544,000 The following transactions affected stockholders equity during 2018. Jan. 1 30,900 shares of preferred stock issued at $22 per share. Feb. 1 50,100 shares of common stock issued at $19 per share. June 1 2-for-1 stock split (par value reduced to $2.50). July 1 28,100 shares of common treasury stock purchased at $10 per share. Bonita uses the cost method. Sept. 15 9,200 shares of treasury stock reissued at $12 per share. Dec. 31 The preferred dividend is declared, and a common dividend of 53 per share is declared. Dec. 31 Net income is $2,139,000. Prepare the stockholders equity section for Bonita Company at December 31, 2018. (Enter account name only and do not provide descriptive information.) BONITA COMPANY Stockholders Equity $ $
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