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Flinstone Fabricating reported the following at December 31, 2018:Shareholders equity5% preferred stock -$30 par value60,000 shares authorized; 30,000 shares issued$ 900,000Common Stock no par: 250,000
Flinstone Fabricating reported the following at December 31, 2018:Shareholders equity5% preferred stock -$30 par value60,000 shares authorized; 30,000 shares issued$ 900,000Common Stock no par: 250,000 sharesauthorized: 120,000 issued1,450,000Retained earnings235,635Treasury shares at cost (5,628)(84,420)Total shareholders equity$ 2, 501,215
$ 900,000 Flinstone Fabricating reported the following at December 31, 2018: Shareholders' equity 5% preferred stock - $30 par value 60.000 shares authorized: 30.000 shares issued Common Stock - no par: 250,000 shares authorized: 120.000 issued Retained earnings Treasury shares at cost (5,628) Total shareholders' equity 1,450,000 235,635 (84420) $ 2,501 215 The following transactions occurred during 2019: 2/1/19 2/15/19 3/1/19 Sold 5,350 shares of treasury stock at a market price of $16 per share. Declared a dividend of S.22 per common share to shareholders of record on 2/22/18 Paid the semiannual dividend on the 5% preferred stock, and the common stock dividend declared on 2/15. Purchased 5,750 treasury shares at a market price of $13. Omitted the semiannual dividend on the 5% preferred stock. Issued 45,000 shares of common stock at a market price of $13 per share Recorded a loss of $75,400 for fiscal year 2019. 8/20/19 9/1/19 10/15/19 12/31/19 Required: 1. Record journal entries for each of the 2019 transaction. 2. Prepare a statement of stockholders' equity for the year ending December 31, 2019 in good form. 3. Prepare the financing section of the statement of cash flow for 2019. Assume there were no debt transactions for 2019. 4. Calculate earnings-per-share for 2019. Calculate earnings-per-share for 2019 assuming all preferred dividends were paidStep by Step Solution
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