I am stuck on this worksheet and I need to know how to do it. I would need to know all what numbers that should be in all of the boxes so that I can learn and understand it. The question is P6 Dividends, Stock Splits, Shareholders Equity. On the left side. The * means that the field is incorrect technically all need to be filled out again.

5 6 An asterisk (*) will appear next to an incorrect entry in the outlined cells. Do not skip lines. Enter the Transactions in the order specified in the Question. Enter all values as positive numbers. 7 8 2014: a. Purchased 80,000 shares of its $1 par value common stock on the market for $2.50 per share. b. Purchased 16,000 shares of its $1 par value common stock on the market for $2.80 per share. c. Sold 44,000 shares purchased in (a) for $131,000. d. Sold the other 36,000 shares purchased in (a) for $72,000. c. Sold 6,000 of the remaining shares of treasury stock for $1.60 per share. f. Retired all the remaining shares of treasury stock. All shares originally were issued at $1.50 per share. 9 1. 10 Common Stock Bal. 1-May Bal. Bal. 15-Dec- 15-Dec 11 12 13 14 15 15-Dec Bal. 16 Additional Paid-in Capital Bal. 25-Mar 15-Dec Bal. 17 18 19 20 21 Stock Dividends 15-Dec 15-Dec 25-Mar 15-Dec Bal. 22 23 24 25 26 REQUIRED 1. Record the treasury stock transactions using T accounts. 2. ACCOUNTING CONNECTION What is the reasoning behind treating the purchase of treasury stock as a reduction in stockholders' equity as opposed to treating it as an investment asset? Dividends, Stock Splits, and Stockholders' Equity P6. The stockholders' equity section of Minh, Inc.'s balance sheet as of December 31, 2013, follows. Contributed capital: Common stock, $3 par value, 1,000,000 shares authorized, 80,000 shares issued and outstanding $240,000 Additional paid-in capital 75,000 Total contributed capital $315,000 Retained earnings 240,000 Total stockholders' equity $555,000 A review of Minh's stockholders' equity records disclosed the following transactions during 2014: Mar. 25 The board of directors declared a 5 percent stock dividend to stockholders of record on April 20 to be distributed on May 1. The market value of the common stock was $21 per share. Apr. 20 Date of record for stock dividend. May 1 Issued stock dividend. Sept. 10 Declared a 3-for-1 stock split. Dec. 15 Declared a 10 percent stock dividend to stockholders of record on January 15 to be distributed on February 15. The market price on this date is $9 per share. REQUIRED 1. Record the stockholders' equity components of these transactions using T accounts. 2. Prepare the stockholders' equity section of Minh's balance sheet as of December 31, 2014. Assume net income for 2014 is $494,000. 3. ACCOUNTING CONNECTION If you owned 2,000 shares of Minh stock on March 1, 2014, how many shares would you own on February 15, 2015? Would your pro- portionate share of the ownership of the company be different on the latter date from what it was on the former date? Explain your answer. Common Stock Distributable 25-Mar 15-Dec Bal. 1-May Bal. Bal. 27 28 29 30 Retained Earnings Bal. 31 15-Dec 32 33 34 35 2. 36 37 38 39 40 Minh, Inc., Stockholders' Equity December 31, 2014 Contributed capital: Common stock, $1 par value, 1,000,000 shares author 252,000 shares issued and outstanding Common stock distributable, 25,200 shares Additional paid-in capital Total contributed capital Retained earnings Total stockholders' equity 41 42 348,600 43 44 c Mas near has opint and lead in shileanar Dunaharamnile rights as thial ary to urea has ) Herial online tar rache ... Congelares the point in rights resere 45 46 5 6 An asterisk (*) will appear next to an incorrect entry in the outlined cells. Do not skip lines. Enter the Transactions in the order specified in the Question. Enter all values as positive numbers. 7 8 2014: a. Purchased 80,000 shares of its $1 par value common stock on the market for $2.50 per share. b. Purchased 16,000 shares of its $1 par value common stock on the market for $2.80 per share. c. Sold 44,000 shares purchased in (a) for $131,000. d. Sold the other 36,000 shares purchased in (a) for $72,000. c. Sold 6,000 of the remaining shares of treasury stock for $1.60 per share. f. Retired all the remaining shares of treasury stock. All shares originally were issued at $1.50 per share. 9 1. 10 Common Stock Bal. 1-May Bal. Bal. 15-Dec- 15-Dec 11 12 13 14 15 15-Dec Bal. 16 Additional Paid-in Capital Bal. 25-Mar 15-Dec Bal. 17 18 19 20 21 Stock Dividends 15-Dec 15-Dec 25-Mar 15-Dec Bal. 22 23 24 25 26 REQUIRED 1. Record the treasury stock transactions using T accounts. 2. ACCOUNTING CONNECTION What is the reasoning behind treating the purchase of treasury stock as a reduction in stockholders' equity as opposed to treating it as an investment asset? Dividends, Stock Splits, and Stockholders' Equity P6. The stockholders' equity section of Minh, Inc.'s balance sheet as of December 31, 2013, follows. Contributed capital: Common stock, $3 par value, 1,000,000 shares authorized, 80,000 shares issued and outstanding $240,000 Additional paid-in capital 75,000 Total contributed capital $315,000 Retained earnings 240,000 Total stockholders' equity $555,000 A review of Minh's stockholders' equity records disclosed the following transactions during 2014: Mar. 25 The board of directors declared a 5 percent stock dividend to stockholders of record on April 20 to be distributed on May 1. The market value of the common stock was $21 per share. Apr. 20 Date of record for stock dividend. May 1 Issued stock dividend. Sept. 10 Declared a 3-for-1 stock split. Dec. 15 Declared a 10 percent stock dividend to stockholders of record on January 15 to be distributed on February 15. The market price on this date is $9 per share. REQUIRED 1. Record the stockholders' equity components of these transactions using T accounts. 2. Prepare the stockholders' equity section of Minh's balance sheet as of December 31, 2014. Assume net income for 2014 is $494,000. 3. ACCOUNTING CONNECTION If you owned 2,000 shares of Minh stock on March 1, 2014, how many shares would you own on February 15, 2015? Would your pro- portionate share of the ownership of the company be different on the latter date from what it was on the former date? Explain your answer. Common Stock Distributable 25-Mar 15-Dec Bal. 1-May Bal. Bal. 27 28 29 30 Retained Earnings Bal. 31 15-Dec 32 33 34 35 2. 36 37 38 39 40 Minh, Inc., Stockholders' Equity December 31, 2014 Contributed capital: Common stock, $1 par value, 1,000,000 shares author 252,000 shares issued and outstanding Common stock distributable, 25,200 shares Additional paid-in capital Total contributed capital Retained earnings Total stockholders' equity 41 42 348,600 43 44 c Mas near has opint and lead in shileanar Dunaharamnile rights as thial ary to urea has ) Herial online tar rache ... Congelares the point in rights resere 45 46