Question
Hatch Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were
Hatch Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders equity.
Preferred Stock, 150,000 shares | $ 3,000,000 | |
Common Stock, 2,000,000 shares | 10,000,000 | |
Paid-in Capital in Excess of ParPreferred Stock | 200,000 | |
Paid-in Capital in Excess of ParCommon Stock | 27,000,000 | |
Retained Earnings | 4,500,000 |
The following transactions affected stockholders equity during 2021.
Jan. 1 | 30,000 shares of preferred stock issued at $22 per share. | |
Feb. 1 | 50,000 shares of common stock issued at $20 per share. | |
June 1 | 2-for-1 stock split (par value reduced to $2.50). | |
July 1 | 30,000 shares of common treasury stock purchased at $10 per share. Hatch uses the cost method. | |
Sept. 15 | 10,000 shares of treasury stock reissued at $11 per share. | |
Dec. 31 | The preferred dividend is declared, and a common dividend of 50 per share is declared. | |
Dec. 31 | Net income is $2,100,000. |
Prepare the stockholders equity section for Hatch Company at December 31, 2021. (Enter account name only and do not provide descriptive information.)
HATCH COMPANY Stockholders Equity December 31, 2021For the Year Ended December 31, 2021For the Quarter Ended December 31, 2021 | ||||||
Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
$ | ||||||
Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
$ | ||||||
Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
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