Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

please answer the correct answer On Jansary 1,2025, Cullumber inc, had these stockholders' equity balances. Common Stock $1 par {2,300,000 shares authorized, 675,000 shares issued

please answer the correct answer
image text in transcribed
image text in transcribed
image text in transcribed
On Jansary 1,2025, Cullumber inc, had these stockholders' equity balances. Common Stock $1 par {2,300,000 shares authorized, 675,000 shares issued and outstanding) $675,000 Paid in Capitalin Excess of Par 1.687 .500 Retained Earnings 688,000 Accumulated Other Comprehensive income 56,000 During 2025, the following trankictions and events occurred. 1. Issued 48,000 shares of $1 par value common stock for $3 per share. 2. Issued 60.500 shares of common stockfor cash at $5 per share. 3. Purchased 22.000 shares of common stock for the treasury at $3.05 per share. 4. Declared and paid a cash dividend of $169,500. 5. Earned net income of $396,000. 6. Had other comprehensive income of $17,600. Prepare the stochholders' equity section of the balance sheet at December 31.2025. (Enter account name only and do not provide descriptive Prepare the stockholders' equity section of the balance sheet at December 31, 2025. (Enter account name only and do not provide descriptive information.l Question 5 of 5 5 Pouscicionte cTextbook and Media

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions