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On January 1, 2017, Windsor, Inc. had these stockholders equity balances. Common Stock, $1 par (3,000,000 shares authorized, 635,000 shares issued and outstanding) $635,000 Paid-in
On January 1, 2017, Windsor, Inc. had these stockholders equity balances.
Common Stock, $1 par (3,000,000 shares authorized, 635,000 shares issued and outstanding) | $635,000 | |
Paid-in Capital in Excess of Par Value | 1,440,000 | |
Retained Earnings | 685,000 | |
Accumulated Other Comprehensive Income | 57,000 |
During 2017, the following transactions and events occurred.
1. | Issued 55,000 shares of $1 par value common stock for $3 per share. | |
2. | Issued 56,500 shares of common stock for cash at $3 per share. | |
3. | Purchased 18,400 shares of common stock for the treasury at $4.00 per share. | |
4. | Declared and paid a cash dividend of $155,500. | |
5. | Earned net income of $435,500. | |
6. | Had other comprehensive income of $19,000. |
Prepare the stockholders equity section of the balance sheet at December 31, 2017.
On January 1, 2017, Windsor, Inc. had these stockholders' equity balances. Common Stock, $1 par (3,000,000 shares authorized, 635,000 shares issued and outstanding) $635,000 Paid-in Capital in Excess of Par Value 1,440,000 Retained Earnings 685,000 Accumulated Other Comprehensive Income 57,000 During 2017, the following transactions and events occurred. 1. Issued 55,000 shares of $1 par value common stock for $3 per share. 2. Issued 56,500 shares of common stock for cash at $3 per share. 3. Purchased 18,400 shares of common stock for the treasury at $4.00 per share. 4. Declared and paid a cash dividend of $155,500. 5. Earned net income of $435,500. 6. Had other comprehensive income of $19,000. Prepare the stockholders' equity section of the balance sheet at December 31, 2017. WINDSOR, INC. Partial Balance Sheet December 31, 2017 Stockholders' Equity Paid-in Capital Common Stock 746500 Additional Paid-in Capital Paid-in Capital in Excess of Par Value-Common Stock 1440000 1663000 Total Paid-in Capital Total Paid-in Capital Retained Earnings Retained Earnings Total Paid-in Capital and Retained Earnings | 965000 2628000 Accumulated Other Comprehensive Income 76000 Less 4: Treasury Stock 19000 Total Stockholders' Equity 2573000 On January 1, 2017, Windsor, Inc. had these stockholders' equity balances. Common Stock, $1 par (3,000,000 shares authorized, 635,000 shares issued and outstanding) $635,000 Paid-in Capital in Excess of Par Value 1,440,000 Retained Earnings 685,000 Accumulated Other Comprehensive Income 57,000 During 2017, the following transactions and events occurred. 1. Issued 55,000 shares of $1 par value common stock for $3 per share. 2. Issued 56,500 shares of common stock for cash at $3 per share. 3. Purchased 18,400 shares of common stock for the treasury at $4.00 per share. 4. Declared and paid a cash dividend of $155,500. 5. Earned net income of $435,500. 6. Had other comprehensive income of $19,000. Prepare the stockholders' equity section of the balance sheet at December 31, 2017. WINDSOR, INC. Partial Balance Sheet December 31, 2017 Stockholders' Equity Paid-in Capital Common Stock 746500 Additional Paid-in Capital Paid-in Capital in Excess of Par Value-Common Stock 1440000 1663000 Total Paid-in Capital Total Paid-in Capital Retained Earnings Retained Earnings Total Paid-in Capital and Retained Earnings | 965000 2628000 Accumulated Other Comprehensive Income 76000 Less 4: Treasury Stock 19000 Total Stockholders' Equity 2573000Step by Step Solution
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