Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

%) P13-39A (similar to) Help Data Table The balance sheet of Heitman Management Consulting, Inc at December 31, 2015, reported the following stockholders' equity EEB

image text in transcribed

%) P13-39A (similar to) Help Data Table The balance sheet of Heitman Management Consulting, Inc at December 31, 2015, reported the following stockholders' equity EEB (Click the icon to view the stockholders' equity section of the balance sheet.) During 2016, Heitman completed the following selected transactions ?(Click the icon to view the transactions.) Paid-In Capital: Requirements 1 Record the transactions in the general jounal. 2. Prepare a retained earnings statement for the year ended December 31, 2016. Assume Heitman's net income for the year was $89,000 3. Prepare the stockholders' equity section of the balance sheet at December 31, 2016 Common Stock-$12 Par Value 150,000 shares authorized, 15,000 shares issued and outstanding Paid-In Capital in Excess of Par Common Total Paid-In Capital 180,000 380,000 560,000 164,000 $ 724,000 Requirement 3. Prepare the stockholders' equity section of the balance sheet at December 31, 2016. (Use parentheses or a minus sign for a Retained Eanings Heitman Management Consulting, Inc. Balance Sheet (Partial) December 31, 2016 Total Stockholders Equity Stockholders Equity More Info Paid-In Capital: Declared a 10% stock dividend on common stock The market value o Heitman's stock was $29 per share. eb. 15 Distributed the stock dividend Jul 29 Purchased 2,500 shares of treasury stock at 529 per share Nov. 27 Declared a $0.10 per share cash dividend on the common stock outstandin Total Paid-In Capital Print Done Total Stockholders' Equity Choose from any list or enter any number in the input fields and then click Check

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Auditing And Assurance

Authors: Louise Kelly

1st Edition

978-1908199362

More Books

Students also viewed these Accounting questions