Chapter 13 Homework Stockholders' Equity Section of Balance Sheet The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Common Stock 515 par 5661,500 Paid-in Capital from Sale of Treasury Stock 27,200 Paid in Capital in excess of Par-Common Stock 17,640 Retained Earnings 1,038,000 Treasury Stock 13.680 Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 720 shares have been reacquired. Goodale Properties Inc. Stockholders' Equity June 30, 20xx Paid in Capital Common Stock, $45 Par (80,000 Shares Authorized, 14,700 Shares Issued) Excess over par Paid-in capital, common stock From Sale of Treasury Stock Total Paid-ta Capital Retained Earnings Total Treasury Stock (720 Shares at Cout) Total Stackers towy Goodale Properties Inc. Stockholders' Equity June 30, 20xx 45 Par (80,000 Shares Authorized, 14,700 Shares Issued) 661.500 ock Cost) apter 13 Homework Entries for Selected Corporate Transactions Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Instructions: Journalize the transactions. If no entry is required, select "No Entry Required from the dropdown box and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 5. Split the common stock 5 for 1 and reduced the par from $75 to $15 per share. After the split, there were 625,000 common shares outstanding. Account Debt Credit Jon 5 Ne Entry Required No Entry Required Mar. 10. Purchased 50,000 shares of the corporation's own common stock at $20, recording the stock at cost. Account Credit Date Mac 10 Treasury Stock 1.000,00 1,000,00 Apr. 30. Declared semiannual dividends of $3.9 on 45,000 shares of preferred stock and $0.27 on the common stock to stockholders of record on May 15, payable on June 15. Account Det Credit Date Ax 30 C Dividends Cash Dividende June 15. Paid the cash dividends. Debit Credit Date June 15 Account Cichlidade payable Cash Aug. 20. Sold 36,000 shares of treasury stock at $28, receiving cash. Account Debit Credit Date Aug 20 Cash III Wall Capital Sole et Treaty Stock Det Crede hapter 13 Homework Data Account for 30. Cash Dividende Cash Dividends Payable June 15. Paid the cash dividends. Account Det Credit Date June 15 Cash Dividends Pay Aug. 20. Sold 36,000 shares of treasury stock at $28, receiving cash. Debit Credit Date Account Aug 20. Cash Treasury Stock Pain Capital from Sale of Tremur Oct. 15. Declared semiannual dividends of $3.9 on the preferred stock and $0.33 on the common stock (before the stock dividend). De Credit Date Oct 15 Account Cash Dividende Cash Dividends Payable Oct. 15. A 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $30. Debat Cred Date Account Oct. 15. Stock Dividende Stock Dividends Distributable Pre-In Capital in aceas of a common Stick Dec. 19. Paid the cash dividends. Debit Credit Date Dec 19 Account Case Dividends Payable Dec. 19. Issued the certificates for the common stock dividend. Date Account Debi Credit Dec 31 Sock Dividende Distributie Chapter 13 Homework Selected Dividend Transactions, Stock Split Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows: Journalize the transactions, If no entry is required, type "No Entry Required" and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 8. Split the common stock 3 for 1 and reduced the par from $84 to $28 per share. After the split, there were 111,000 common shares outstanding. Jan No Entry Required No Entry Required Feedback Review the effect of stock splits on equity accounts. Apr. 30. Declared semiannual dividends of $0.9 on 8,000 shares of preferred stock and $0.06 on the common stock payable on July 1. A Cash Dividende Cash Dividends Payable Foedback When a company declares a dividend it becomes legally binding. July 1. Paid the cash dividends. July 1 Cash Dividends Payable Cash Feedback What are the stockholders' receiving from the corporation? Oct. 31. Declared semiannual dividends of $0.9 on the preferred stock and $0.05 on the common stock (before the stock dividend). In addition, a 1% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $50. Chapter 13 Homework July 1. Paid the cash dividends. July 1 Cash Dividends Payable Cash Feedback What are the stockholders' receiving from the corporation? Oct. 31. Declared semiannual dividends of $0.9 on the preferred stock and $0.05 on the common stock (before the stock dividend). In addition, a 1% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $50. Cash Dividends Cash Dividende Cash Dividends Payable Stock dividends Steck Dividende Stock Dividends Distributable Pald-In Capital in Excess at Par Common Stock Feedback On the date of declaration of a cash dividend, it becomes legally binding. How do stock dividends affect stockholders' equity? Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend. Payment Cash Dividends Payable 0 Issuance Stock Dividends Distributable Commen Stack Feedback What are the stockholders receiving? Chapter 13 Homework Stockholders' Equity Section of Balance Sheet The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Common Stock 515 par 5661,500 Paid-in Capital from Sale of Treasury Stock 27,200 Paid in Capital in excess of Par-Common Stock 17,640 Retained Earnings 1,038,000 Treasury Stock 13.680 Prepare the Stockholders' Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 720 shares have been reacquired. Goodale Properties Inc. Stockholders' Equity June 30, 20xx Paid in Capital Common Stock, $45 Par (80,000 Shares Authorized, 14,700 Shares Issued) Excess over par Paid-in capital, common stock From Sale of Treasury Stock Total Paid-ta Capital Retained Earnings Total Treasury Stock (720 Shares at Cout) Total Stackers towy Goodale Properties Inc. Stockholders' Equity June 30, 20xx 45 Par (80,000 Shares Authorized, 14,700 Shares Issued) 661.500 ock Cost) apter 13 Homework Entries for Selected Corporate Transactions Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Instructions: Journalize the transactions. If no entry is required, select "No Entry Required from the dropdown box and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 5. Split the common stock 5 for 1 and reduced the par from $75 to $15 per share. After the split, there were 625,000 common shares outstanding. Account Debt Credit Jon 5 Ne Entry Required No Entry Required Mar. 10. Purchased 50,000 shares of the corporation's own common stock at $20, recording the stock at cost. Account Credit Date Mac 10 Treasury Stock 1.000,00 1,000,00 Apr. 30. Declared semiannual dividends of $3.9 on 45,000 shares of preferred stock and $0.27 on the common stock to stockholders of record on May 15, payable on June 15. Account Det Credit Date Ax 30 C Dividends Cash Dividende June 15. Paid the cash dividends. Debit Credit Date June 15 Account Cichlidade payable Cash Aug. 20. Sold 36,000 shares of treasury stock at $28, receiving cash. Account Debit Credit Date Aug 20 Cash III Wall Capital Sole et Treaty Stock Det Crede hapter 13 Homework Data Account for 30. Cash Dividende Cash Dividends Payable June 15. Paid the cash dividends. Account Det Credit Date June 15 Cash Dividends Pay Aug. 20. Sold 36,000 shares of treasury stock at $28, receiving cash. Debit Credit Date Account Aug 20. Cash Treasury Stock Pain Capital from Sale of Tremur Oct. 15. Declared semiannual dividends of $3.9 on the preferred stock and $0.33 on the common stock (before the stock dividend). De Credit Date Oct 15 Account Cash Dividende Cash Dividends Payable Oct. 15. A 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $30. Debat Cred Date Account Oct. 15. Stock Dividende Stock Dividends Distributable Pre-In Capital in aceas of a common Stick Dec. 19. Paid the cash dividends. Debit Credit Date Dec 19 Account Case Dividends Payable Dec. 19. Issued the certificates for the common stock dividend. Date Account Debi Credit Dec 31 Sock Dividende Distributie Chapter 13 Homework Selected Dividend Transactions, Stock Split Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows: Journalize the transactions, If no entry is required, type "No Entry Required" and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 8. Split the common stock 3 for 1 and reduced the par from $84 to $28 per share. After the split, there were 111,000 common shares outstanding. Jan No Entry Required No Entry Required Feedback Review the effect of stock splits on equity accounts. Apr. 30. Declared semiannual dividends of $0.9 on 8,000 shares of preferred stock and $0.06 on the common stock payable on July 1. A Cash Dividende Cash Dividends Payable Foedback When a company declares a dividend it becomes legally binding. July 1. Paid the cash dividends. July 1 Cash Dividends Payable Cash Feedback What are the stockholders' receiving from the corporation? Oct. 31. Declared semiannual dividends of $0.9 on the preferred stock and $0.05 on the common stock (before the stock dividend). In addition, a 1% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $50. Chapter 13 Homework July 1. Paid the cash dividends. July 1 Cash Dividends Payable Cash Feedback What are the stockholders' receiving from the corporation? Oct. 31. Declared semiannual dividends of $0.9 on the preferred stock and $0.05 on the common stock (before the stock dividend). In addition, a 1% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $50. Cash Dividends Cash Dividende Cash Dividends Payable Stock dividends Steck Dividende Stock Dividends Distributable Pald-In Capital in Excess at Par Common Stock Feedback On the date of declaration of a cash dividend, it becomes legally binding. How do stock dividends affect stockholders' equity? Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend. Payment Cash Dividends Payable 0 Issuance Stock Dividends Distributable Commen Stack Feedback What are the stockholders receiving