Required information E11-4 (Algo) Reporting Stockholders' Equity LO11-1, 11-2, 11-3 [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: Common stock Retained earnings Net income Shares issued Shares outstanding Dividends declared and paid E11-4 Part 3 The common stock was sold at a price of $25 per share. 3. How many shares are in treasury stock? $1,040,000 $ 740,000 $1,050,000 104,000 74,000 740,000 Shares in treasury stock $ Check my wo

Required information E11-4 (Algo) Reporting Stockholders' Equity LO11-1, 11-2, 11-3 [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: The common stock was sold at a price of $25 per share. E11-4 Part 3 3. How many shares are in treasury stock? Required information E11-7 (Algo) Reporting Stockholders' Equity LO11-1, 11-3,11-7 [The following information applies to the questions displayed below] Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $6 par value, 83,000 shares authorized. During the first year, the following selected transactions were. completed: a. Sold 58,000 shares of common stock for cash at $46 per share. b. Repurchased 6,000 shares from a stockholder for cash at $48 per share. :11-7 Part 1 Pequired: Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No journal intry required" in the first account field.) Journal entry worksheet Repurchased 6,000 shares from a stockholder for cash at $48 per share. Potes Enter debits betore credita. E11-7 (Algo) Reporting Stockholders' Equity LO11-1, 11-3, 11-7 [The following information applies to the questions displayed below.] Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $6 par value, 83,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 58,000 shares of common stock for cash at $46 per share. b. Repurchased 6,000 shares from a stockholder for cash at $48 per share. :11-7 Part 1 Required: Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No journal intry required" in the first account field.) Journal entry worksheet Sold 58,000 shares of common stock for cash at $46 per share. Note: Enter debits before credits. Required information E11-7 (Algo) Reporting Stockholders' Equity LO11-1, 11-3, 11-7 [The following information applies to the questions displayed below.] Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $6 par value, 83,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 58,000 shares of common stock for cash at $46 per share. b. Repurchased 6,000 shares from a stockholder for cash at $48 per share. E11-7 Part 2 2. Prepare the stockholders' equity section of the balance sheet at the end of the year. Assume retained earnings at the end of the year was $230,000. (Amounts to be deducted should be indicated with a minus sign.) E11-8 (Algo) Reporting Stockholders' Equity LO11-1, 11-3, 11-7 Abe's Steakhouse is the largest upscale steakhouse company in the United States, based on total company- and franchisee-owned restaurants. The company's menu features a broad selection of high-quality steaks and other premium offerings. Assume the information below is from a recent annual report: a. Common stock, $0.01 par value; 100,020,000 shares authorized; 23,533,356 issued and outstanding at the end of the current year, 23,375,356 issued and outstanding at the end of last year. b. Additional paid-in capital: $191,389,000 at the end of the current year and $173,431,000 at the end of last year. c. Retained earnings / (accumulated deficit): $80,597,000 ) at the end of last year. d. In the current year, net income was $54,583,000 and a cash dividend of $7,138,000 was paid. Required: Prepare the stockholders' equity section of the balance sheet to reflect the above information for the current year and last year. (Amounts to be deducted should be indicated with a minus sign.) E11-21 (Algo) Recording Dividends LO11-3, 11-4 Wilmington, Inc. brands touch the lives of people around the world. Assume that in the current year the company had 10 billion shares of common stock authorized, 4 billion shares issued, and 3 billion shares outstanding. Par value is $1 per share. Wilmington, Inc. has been paying a dividend for over 100 years. Required: Assume that Wilmington, Inc. declared a dividend of $2.62 per share on October 1 to stockholders of record on October 15 . Wilmington, Inc. paid the dividend on October 20. Prepare journal entries as appropriate for each date. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in billions (i.e., 1,000,000,000 not 1.0).) Journal entry worksheet Record the journal entry on October 1. Note: Enter debits before credits. E11-21 (Algo) Recording Dividends LO11-3, 11-4 Wilmington, Inc. brands touch the lives of people around the world. Assume that in the current year the company had 10 billion shares of common stock authorized, 4 billion shares issued, and 3 billion shares outstanding. Par value is $1 per share. Wilmington, Inc. has been paying a dividend for over 100 years. Required: Assume that Wilmington, Inc. declared a dividend of $2.62 per share on October 1 to stockholders of record on October 15. Wilmington, Inc. paid the dividend on October 20. Prepare journal entries as appropriate for each date. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in billions ( (i.e., 1,000,000,000 not 1.0).) Journal entry worksheet 3 Record the journal entry on October 15. Note: Enter debits before eredits. Wilmington, Inc. brands touch the lives of people around the world. Assume that in the current year the company had 10 billion shares of common stock authorized, 4 billion shares issued, and 3 billion shares outstanding. Par value is $1 per share. Wilmington, Inc. has been paying a dividend for over 100 years. Required: Assume that Wilmington, Inc. declared a dividend of $2.62 per share on October 1 to stockholders of record on October 15 . Wilmington, Inc. paid the dividend on October 20. Prepare journal entries as appropriate for each date. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in billions (i.e., 1,000,000,000 not 1.0).) Journal entry worksheet Record the journal entry on October 20. Note: Enter debits before credits