Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can you also sjow work on how you got the answer Question 19 of 26 - /20 The stockholders equity section of Swifty Corporation's balance

image text in transcribed can you also sjow work on how you got the answer

Question 19 of 26 - /20 The stockholders equity section of Swifty Corporation's balance sheet as of December 31, 2020 is as follows: Stockholders' Equity Common stock, S5 par value, authorized, 1.900,000 shares; issued, 380,000 shares Paid-in capital in excess of par Retained earnings $1.900,000 839,000 2.970,000 $5,709,000 The following events occurred during 2021 Jan 5 28,000 shares of authorized and unissued common stock were sold for 57 per share, Jan 16 Declared a cash dividend of 20 cents per share, payable February 15 to stockholders of record on February 5. Feb. 10 40,000 shares of authorized and unissued common stock were sold for $12 per share. A 30% stock dividend was declared and issued. Fair value per share is currently $16. 5. April 1 A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Fair value on March 31 was $18 per share. July 1 A 15% stock dividend was declared and issued. Fair value is currently $10 per share A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of record on August Aug 1 21 1 2 3 4 March 1 6. 7. Enter the above events into the following worksheet showing how each event affects the column. (Enter negative amounts using either a negative sign preceding the numberes 45 or parentheses es (45). Do not leave any answer field blank. Enter for amounts.) No. of Shares Issued Common Stock Total Par Value Paid-in Capital in Excess of Par Retained Earnings Item Berinning Type here to search . DELL F2 F3 F4 F5 F6 F7 F8 F9 F10 Q A * @ 2 # 3 $ 4 % 5 & 7 6 8 9 W E R T Y

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A One-Year Accounting Course Part 2

Authors: Trevor Gambling

1st Edition

0080130267, 9780080130262

More Books

Students also viewed these Accounting questions

Question

What is the cerebrum?

Answered: 1 week ago