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In late 2 0 2 3 , the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 5 , 0 0 0 ,
In late the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of shares of common stock carrying a $ par value, and shares of $ par value, noncumulative, nonparticipating preferred stock. On January shares of the common stock were issued in exchange for cash at an average price of $ per share. Also on January all shares of preferred stock were issued at $ per share. During the Nicklaus Corporation participated in three treasury stock transactions: On June the corporation reacquired shares for the treasury at a price of $ per share. On July treasury shares were reissued at $ per share. On September treasury shares were reissued at $ per share. On October Nicklaus Corporation received permission to replace its $ par value common stock with a new common stock issue in a for stock split. The $ par stock will be collected and destroyed by Nicklaus. On November the Nicklaus Corporation declared a $ per share cash dividend on common stock and a $ per share cash dividend on preferred stock. Payment is scheduled for December to shareholders of record on November On December the Nicklaus Corporation declares a stock dividend payable on December to shareholders of record on December At the date of declaration, the common stock was selling in the open market at $ per share. Required: Prepare the December shareholders' equity section of the balance sheet for the Nicklaus Corporation. Net income for the first quarter of was $; net income for the second and third quarters totaled $ and net income for the fourth quarter was $ Specifically I would like information on the section about accounting for stock split, cash dividends and stock dividends.
In late the Nicklaus Corporation was formed. The corporate charter authorizes the issuance
of shares of common stock carrying a $ par value, and shares of $ par value,
noncumulative, nonparticipating preferred stock. On January shares of the
common stock were issued in exchange for cash at an average price of $ per share. Also on
January all shares of preferred stock were issued at $ per share.
During the Nicklaus Corporation participated in three treasury stock transactions:
On June the corporation reacquired shares for the treasury at a price of
$ per share.
On July treasury shares were reissued at $ per share.
On September treasury shares were reissued at $ per share.
On October Nicklaus Corporation received permission to replace its $ par value common
stock with a new common stock issue in a for stock split. The $ par stock will be collected and
destroyed by Nicklaus.
On November the Nicklaus Corporation declared a $ per share cash dividend on
common stock and a $ per share cash dividend on preferred stock. Payment is scheduled for
December to shareholders of record on November
On December the Nicklaus Corporation declares a stock dividend payable on
December to shareholders of record on December At the date of declaration, the
common stock was selling in the open market at $ per share.
Required:
Prepare the December shareholders' equity section of the balance sheet for the Nicklaus
Corporation. Net income for the first quarter of was $; net income for the second
and third quarters totaled $ and net income for the fourth quarter was $ Specifically I would like information on the section about accounting for stock split, cash dividends and stock dividends.
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