Question
On January 1, 2022, Sandhill Corporation had the following stockholders equity accounts. Common Stock ($20 par value, 63,500 shares issued and outstanding) $1,270,000 Paid-in Capital
On January 1, 2022, Sandhill Corporation had the following stockholders equity accounts.
| Common Stock ($20 par value, 63,500 shares issued and outstanding) | $1,270,000 | |
| Paid-in Capital in Excess of ParCommon Stock | 197,000 | |
| Retained Earnings | 564,000 |
During the year, the following transactions occurred.
| Feb. 1 | Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. | |
| Mar. 1 | Paid the dividend declared in February. | |
| Apr. 1 | Announced a 2-for-1 stock split. Prior to the split, the market price per share was $38. | |
| July 1 | Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $15 per share. | |
| 31 | Issued the shares for the stock dividend. | |
| Dec. 1 | Declared a $0.60 per share dividend to stockholders of record on December 15, payable January 5, 2023. | |
| 31 | Determined that net income for the year was $300,500. |
Prepare a stockholders equity section at December 31. (Enter account name only and do not provide descriptive information.)
| SANDHILL CORPORATION Balance Sheet (Partial) choose the accounting period For the Quarter Ended December 31, 2022December 31, 2022For the Year Ended December 31, 2022 | ||||
|---|---|---|---|---|
| select an opening section name Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||
| select an opening subsection name Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||
| select a name of subordinate part one of this subsection Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||
| enter a balance sheet item | $enter a dollar amount | |||
| select a name of subordinate part two of this subsection Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||
| enter a balance sheet item | enter a dollar amount | |||
| select a closing subsection name Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | enter a total amount for this subsection | |||
| enter a balance sheet item | enter a dollar amount | |||
| select a closing section name Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal Additional Paid-in CapitalTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | $enter a total amount for this section | |||
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Internal Auditing Principles And Techniques
Authors: Richard L. Ratliff, W. Wallace, Walter B. Mcfarland, J. Loeboecke
2nd Edition
0894133268, 978-0894133268
