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Need the following Statements from the pictures below: Income Statement, Retained Earnings Statement, and a Balance Sheet. As well as journal entries. comprehensive Problema d

Need the following Statements from the pictures below:

Income Statement, Retained Earnings Statement, and a Balance Sheet.

As well as journal entries.

image text in transcribed

image text in transcribed

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comprehensive Problema d balance sheet. Provide appropriate sup- ere held an. 85.000 shamon stock Selected transactions completed by Everyday Products Inc. during the fiscal year ending December 31, 2012, were as follows: a. Issued 12,500 shares of $25 par common stock at $32, receiving cash b. Issued 2,000 shares of $100 par preferred stock at $105, receiving cash c.Issued $100,000 of 10 year, 6% bonds at 105, with interest payable semiannually. d. Declared a quarterly dividend of $0.45 per share on common stock and $1.25 per Share on preferred stock. On the date of record 5.000 shares of common stock were outstanding, no treasury shares were held, and 17,000 shares of preferred stock were outstanding e. Paid the cash dividends declared in (d). 1. Purchased 5,500 shares of Kress Comp at $22 per share, plus a $275 brokerage com- mission. The investment is classified as an available for sale investment 8. Purchased 6,500 shares of treasury common stock at $35 per share. h. Purchased 36,000 shares of Lifecare Costock directly from the founders for sin per share. Lifecare has 112.500 shares issued and outstanding. Everyday Products Inc treated the investment as an equity method investment Declared a 2 stock dividend on common stock and a $1.25 quarterly cash dividend per share on preferred stock. On the date of declaration, the market value of the common stock was $10 per share. On the date of record, 85,000 shares of common stock had been issued, 6,500 shares of treasury common stock were held, and 17.000 shares of preferred stock had been issued Issued the stock certificates for the stock dividends declared in (h) and paid the cash dividends to the preferred stockholders k. Received $24,500 dividend from Lifecare Co. investment in th). Purchased $62,000 of Nordic Wear Inc. 10-year, 6% bonds, directly from the issuing company at par value, plus accrued interest of $550. The bonds are classifed as a held-to-maturity long-term investment m. Sold, at $42 per share, 2.600 shares of treasury common stock purchased in n. Received a dividend of $0.05 per share from the Kress Corp. investment in an o. Sold 500 shares of Kress Corp. at $26.50, including commission Recorded the payment of semiannual interest on the bonds issued in the a rtization of the premium for six months. The amortization was determined usine the straight-line method Accrued interest for three months on the Nordic Wear Inc bonds purchasin Life Carecorded total earnings of $ 205,000. Everyday Products restes earnings for its share of Lifecare Co. net income. December 31, 2012 Mlowance account had a beginning bal. 012. had been posted the data below 5. The fair value for Kress Corp. stock was $18.50 per share on December The investment is adiusted to fair value using a valuation allowane Assume Valuation Allowance for Available for Sale Investments had a be ance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transactions for the year ended December 31, 2012, had b including the transactions recorded in part (1) and all adjusting entries, the and on the following page were taken from the records of Everyday Products a. Prepare a multiple-step income statement for the year ended December concluding with earnings per share. In computing earnings per share, as the average number of common shares outstanding was 84,000 and prefer dends were $85,000. (Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 2017 c. Prepare a balance sheet in report form as of December 31, 2012. December 31, 2012, per share, assume that and preferred divi Income statement data: Income statement data: Advertising expense Cost of merchandise sold Delivery expense Depreciation expense-office buildings and equipment Depreciation expense--store buildings and equipment Dividend revenue Gain on sale of investment Income from Lifecare Co. investment Income tax expense Interest expense Interest revenue Miscellaneous administrative expense Miscellaneous selling expense Office rent expense Office salaries expense Office supplies expense Sales Sales commissions Sales salaries expense Store supplies expense $ 125,000 3,650,000 29,000 26,000 95,000 3,575 2,225 65,600 128,500 19,000 1,800 7,500 13,750 50,000 165,000 10,000 5,145,000 182,000 365,000 22,000 $ 195,000 543,000 1,580,000 4,126,000 8,150 110,250 400,000 240,000 Retained earnings and balance sheet data: Accounts payable Accounts receivable Accumulated depreciation-office buildings and equipment Accumulated depreciation-store buildings and equipment Allowance for doubtful accounts Available for sale investments (at cost) Bonds payable, 6%, due 2022 Cash Common stock, 525 par (400,000 shares authorized; 86,570 shares issued, 82,670 outstanding) Dividends: Cash dividends for common stock Cash dividends for preferred stock Stock dividends for common stock Goodwill Income tax payable Interest receivable Investment in Lifecare Co.stock (equity method) Investment in Nordic Wear Inc bonds (long term) 2,164,250 155,120 85,000 62,800 510,000 40,000 930 689,100 62,000 $ 780,000 4,320,000 18,200 842,000 150,000 Merchandise inventory (December 31, 2012), at lower of cost (FIFO) or market Office buildings and equipment Paid-in capital from sale of treasury stock Paid-in capital in excess of par-common stock Paid-in capital in excess of par--preferred stock Preferred 5% stock, $100 par (30,000 shares authorized; 17,000 shares issued) Premium on bonds payable Prepaid expenses Retained earnings, January 1, 2012 Store buildings and equipment Treasury stock (3,900 shares of common stock at cost of $35 per share) Unrealized gain (loss) on available-for-sale investments Valuation allowance for available for sale investments 1.700,000 19,000 26,500 8,708,150 12,560,000 136,500 (17,750) (17,750)

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