Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

this one please! ;) On January 1, 2022, Crane Inc. had the following stockholders' equity balances. During 2022, the following transactions and events occurred. 1.

this one please! ;)
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
On January 1, 2022, Crane Inc. had the following stockholders' equity balances. During 2022, the following transactions and events occurred. 1. Issued 95,000 shares of $2 par value common stock as a result of 15% stock dividend declared on December 15,2023. 2. Issued 47,500 shares of common stock for cash at $4 per share. 3. Purchased 34,000 shares of common stock for the treasury at $5 per share. 4. Declared and paid a cash dividend of $116.000. 5. Sold 9,000 shares of treasury stock for cash at $5 per share. 6. Earned net income of $365,000 Prepare a stockholders' equity statement for the year. (If an amount reduces the occount balance then enter with negotive sign preceding the number es. 45 or porentheses es (45) J Common Stock Dividends Distributable 190000 lasued 95.000 share tor stock 14250 \begin{tabular}{|l|l|} \hline 4 & 14250 \\ \hline \end{tabular} Crane lnc. Stockholders' Equity Statement (in thousands, except shares) Common 1ssued 47.500 shares for cash T 95000 Purchased 34,000 shares of treasury stock Declared cash dividend Sold 9.000 shares of treasury Declared cash dividend Sold 9000 shares of treasury stock \begin{tabular}{l|l|} \hline 0 & i \\ \hline \end{tabular} i Net income for year \begin{tabular}{|l|l|} \hline & 1 \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & in \\ \hline \end{tabular}

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 Principles Of Auditing

Authors: Hugo Romero

1st Edition

1632409372, 978-1632409379

More Books

Students also viewed these Accounting questions

Question

What are some Questions and Answers of Wirdcard AG

Answered: 1 week ago