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both pictures are part of 1 question Power Drive Corporation designs and produces a line of golf equipment and golf apparel Power Drive has 100,000
both pictures are part of 1 question
Power Drive Corporation designs and produces a line of golf equipment and golf apparel Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021 March 1 Issues 51,000 additional shares of 31 par value common stock for SA per share May 10 Purchases 4,600 shares of treasury stock for 35% per Share June 1 Declares a cash dividend of $1.30 per share to 811 stockholders of record on June 15: Hint Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,300 shares of treasury stock purchased on May 10 for 356 per share Power Drive Corporation has the following beginning balances in its stockholders equity accounts on January 1, 2021 Common Stock, $100,000; Additional Paid-in Capital, $4,100,000, and Retained Earnings. $1.600.000. Net Income for the year ended December 31, 2021, is $560,000. Required: Prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31, 2021 (Amounts to be deducted should be Indicated by a minus sign.) A POWER DRIVE CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2021 Common Stock Additional Paid in Capital Retained Earnings Total Treasury Stock Stockholders Equity 03 5.800.000 5 $ 100.000 51,000 1,000,000 4.100.000 5 2,307.000 Balance, January 1 Issue common stock Purchase treasury stock Declare dividends Resell treasury stock Net income Balance December 31 11,500 3 151,000 0,500,500 1.000.000 0 3,250,500 Select whether each of the following transactions increases (1) or decreases (-) total assets, total liabilities, and total stockholders' equity. The first transaction is completed as an example. (If none of the categories apply for a particular Item, leave the cell blank.) Transaction Total Assets Total Liabilities Total Stockholders Equity issue common stock Issue preferred stock Purchase treasury stock Resell treasury stock Declare cash dividend Pay cash dividend 100% stock dividend 2 for 1 stock split Step by Step Solution
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