Information:
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***Don't need the answers for these questions (they're correct as listed), just the information is needed from these problems for part D & E***
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Below you will find the Stockholder's Equity section of the Balance Sheet of CVC Capital Partners for the year ended December 31,2018: $150,000 3,600,000 $200,000 ($525,000) $500,000 APIC -Common Stock Total Stockholders' Equit On January 31, 2019 the company sold 25,000 shares of treasury stock for $17 per share. What journal entry is made to record this transaction? Assume the company originally recorded the treasury stock using the cost method. Start your journal entry with debits first and then credits and in the exact order that each account is presented in our class power point slides and using the exact account names presented per the table above. To receive full credit for your response: The first column should include the Debit and name of the account or Credit and name of the account. For example: If Debiting Retained Earnings for $100, then you should enter per column 1: Debit Retained Earnings and per column 2 (same line) 100 (without the dollar sign) On February 25th, 2019 the company sold 8,000 shares of treasury stock for $8 per share. What journal entry is made to record this transaction? Start your journal entry with debits first and then credits and in the exact order that each account is presented in our class power point slides and using the exact account names presented per the table above. To receive full credit for your response: The first column should include the Debit and name of the account or Credit and name of the account. For example: If Debiting Retained Earnings for $100, then you should enter per column 1: Debit Retained Earnings and per column 2 (same line) 100 (without the dollar sign) On May 26th, 2019 the company retired 1,000 shares of treasury stock for $15 per share. What journal entry is made to record this transaction? Start your journal entry with debits first and then credits and in the exact order that each account is presented in our class power point slides and using the exact account names presented per the table above. To receive full credit for your response: The first column should include the Debit and name of the account or Credit and name of the account. For example: If Debiting Retained Earnings for $100, then you should enter per column 1: Debit Retained Earnings and per column 2 (same line) 100 (without the dollar sign) QUESTION 5 If dividends in the amount of $35,000 are declared on December 15, 2019, what would be the journal entry to record this transaction? Start your journal entry with debits first and then credits and in the exact order that each account is presented in our class power point slides and using the exact account names presented per the table above. To receive full credit for your response: The first column should include the Debit and name of the account or Credit and name of the account. For example:If Debiting Retained Earnings for $100, then you should enter per column 1: Debit Retained Earnings and per column 2 (same line) 100 (without the dollar sign) Debit Retained Earnings 350 00 Credit Dividends Payabl 35000 QUESTION 6 If dividends in the amount of $35,000 are paid on December 31, 2019 and the preferred stock is cumulative and fully participating, with $7,000 in arrears, how much of the dividend on December 31, 2019 is paid to the preferred stockholders? Only for this question and for question #7 assume that the Common Stock at $1 par of $150,000 is your common stock outstanding as of 12/31/18. To receive full credit for your response, exclude dollar signs from your response. 23000 QUESTION 7 Given the dividends paid to Preferred stockholders on December 31, 2019, what would be the dividend paid to common stockholders of the company? Only for this question and for question #6 assume that the Common Stock at $1 par of $150,000 is your common stock outstanding as of 12/31/18. To receive full credit for your response, 12000 Assuming no additional equity transactions were recorded during 2019 (other than those noted per questions #2 through #7) and net income for the 12-month period ending December 31, 2019 was $120,000 what would be the ending balances of the stockholders' equity accounts as of December 31, 2019? To ensure you receive full credit for your answers, exclude any dollar signs and if the ending balance of the below accounts is zero include the number O in your response. Common Stock at $1 par APIC - Common Stock 6% Preferred Stock at $100 par Treasury Stock (at $15 per share) (include with negative sign as it is a contra-equity account) APIC - Treasury Stock Retained Earnings Total Stockholders' Equity What is the book value per share of common stock at December 31, 2018 and at December 31, 2019? Use two decimals in your response and round to the next digit if greater than 0.5 (for example 15.145 would be rounded to 15.15) Exclude dola signs from your answers below 2018 2019
