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I need help on this homework. If you can show the work that would help me a lot Morrow Enterprises Inc. manufactures bathroom fixtures. The

I need help on this homework. If you can show the work that would help me a lot

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Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Morrow Enterprises Inc., with balances on January 1, 2016, are as follows: $7,060,000 Common stock, S20 stated value; 500,000 shares authorized, 353,000 issued Paid-In Capital in Excess of Stated Value-Common Stock 811,900 Retained Earnings 33,598,000 484,500 Treasury Stock (25,500 shares, at cost) The following selected transactions occurred during the year: Jan. 22 Paid cash dividends of $0.10 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for S32,750. Apr 10 Issued 72,000 shares of common stock for S24 per share. Jun. 6 Sold all of the treasury stock for $25 per share. Jul. 5 Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock. which is $26 per share. Aug. 15 Issued the certificates for the dividend declared on July 5 Nov. 23 Purchased 25,000 shares of treasury stock for $19 per share. Dec. 28 Declared a S0.09-per-share dividend on common stock. 31 Closed the credit balance of the income sunmary account, $1,149,500 31 Closed the two dividends accounts to Retained Earnings. Required A. Enter the January 1 balances in T accounts for the stockholders' equity accounts listed. B. Journalize the entries to record the transactions, and post to the eight selected accounts. No post ref is required in the journal. Refer to the Chart of Accounts for exact wording of account titles. C. Prepare a retained earnings statement for the year ended December 31, 2016. Enter al amounts as positive numbers. The word Less" is not required. D. Prepare the Stockholders' Equity section of the December 31, 2016, balance sheet. "Less" or "Deduct" will automaticaily appear if it is required. Morrow Enterprises Inc. General Ledger ASSETS REVENUE 410 Sales 110 Cash 610 Interest Revenue 120 Accounts Receivable 131 Notes Receivable EXPENSES 132 Interest Receivable 141 Merchandise Inventory 510 Cost of Merchandise Sold 145 Office Supplies 515 Credit Card Expense 151 Prepaid Insurance 520 Salaries Expense 531 Advertising Expense 181 Land 193 Equipment 532 Delivery Expense 533 Selling Expenses 194 Accumulated Depreciation-Equipment 534 Rent Expense LIABILITIES 535 Insurance Expense 210 Accounts Payable 536 Office Supplies Expense 221 Notes Payable 537 Organizational Expenses 226 Interest Payable 562 Depreciation Expense-Equipment 231 Cash Dividends Payable 590 Miscellaneous Expense 236 Stock Dividends Distributable 710 Interest Expense 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Common Stock 313 Paid-In Capital in Excess of Stated Value-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends 390 Income Summary Amount Descriptions Amount Descriptions Cash balance, July 31, 2016 Common stock, S20 stated value; 500,000 shares authorized, 353,000 issued Common stock, S20 stated value; 500,000 shares authorized, 417,000 issued Common stock, S20 stated value; 500,000 shares authorized, 442,000 issued Decrease in retained earnings Dividends Excess of issue price over stated value For the Year Ended December 31, 2016 From sale of treasury stock Increase in retained earnings Net income Net loss Retained earnings Retained earnings, December 31, 2016 Retained earnings, January 1, 2016 Total Total paid-in capital Total stockholders' equity A. Enter the January 1 balances in Taccounts for the stockhoiders' equity accounts listed. Post the journal entries from part B to the eight seiected accounts. No post ref is required in the journai. Common Stock Jan. 1 Bal. 06,000 Apr. 10 144,000 Aug. 15 34,000 Dec. 31 Bal. 844,000 Paid-In Capital in Excess of Stated Value-Common Stock Jan. 1 Bal. 811,900 Apr. 10 288,000 Jul. 5 102,000 Dec. 31 Bal. 1,201,900 Retained Earnings 479,530 Jan. 1 Bal. 33,598,000 Dec. 31 11,495,000 Dec. 31 34,267,970 Dec. 31 Bal, Treasury Stock 484,500 Jun.6 n.1 Bal. 484,500 Nov. 23 475,000 475,000 Dec. 31 Bal, Paid-In Capital from Sale of Treasury Stock Jun. 6 153,000 Stock Dividends Distributable Aug. 15 340,000 Jul. 5 340,000 B. Journalize the entries to record the transactions. No post ref is required in the journal. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 JOURNAL DATE DESCRIPTION POST. REF DEBIT Jan. 22 Cash Dividends Payable 32,750.00 32,750.00 Cash Apr. 10 Cash 1,728,000.00 Common Stock 144,000.00 Paid-In Capital in Excess of Stated Value-Common Stock 288,000.00 Jun. 6 Cash Treasury Stock 10 12 13 14 16 17 20 21 Retained Earmings Statement Less"is s nat required. Rafer to C. Propare a retained oamings statoment for the yoar ended Decomber 31, 2016 Entor afl amounts as positive numbors. The word nat required. Rofer to the list of Amount Descriptions exact wording of the answer choices for text ontries provided for the Morrow Enterprises Retained Earnings Statement For the Yoar Ended December 31, 2016 Retained earnings 2Net income Cash 4 stock S Increase in retained earnings Stockholders' Equity rquired Rafer to of Amount Desoriptions provided for the 2016 balance o "Deduct wi D. Propare the Stockholders' Equity section of the December 31, sheet "Less or Deduct w i automatically appear shoet. Less or is requred Refer to the list of Amount Dosc ptions pro dod for the exact or ng of the answer choices for toxt warding of the ont Stocikhoiders Equity 1Paid-in capital: 1,354,900.00 excess of issue 53,000.00 1 10,347,900.00 34267970.00 44615,870.00 $475,000.00

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