Transactions for the BUS 130 Corporation The BUS 130 Corporation was organized in 2018 Its charter authorizes it to issue 100,000 shares of $10 par common stock and 50,000 shares of $50 par, 6 , cumulative preferred stock The following transactions relate to years 2018, 2019, and 2020 (See pages 634 635 for issues related to authorized, issued, par value, preferred stock) Post the effects of these transactions to the appropriate T accounts 2018 Issued 1,000 shares of common stock at par (p 637) Issued 500 shares of common stock at $15 per share (p 637) Issued 1,500 shares of common stock for a building and equipment with fair market values of $10,000 and $7,500 respectively (p 638) Sales revenue for cash totaled $10,000 Expenses incurred for cash totaled $5,000 Declared a $3,000 dividend (P 640 641) Paid the dividend (p 640 641) Closed the accounts at year end What was the amount of cash dividend per share for the common stockholders Prepare a Retained Earnings Statement (p 647) and a Balance Sheet (Stockholders equity section, p 646) for 12 31 2018 Compute earnings per share (p 651) 2019 Issued 2,000 shares of common stock for $20 per share Issued 500 shares of preferred stock for $55 per share Sales revenue for cash totaled $50,000 Expenses incurred for cash totaled $30,000 Declared a dividend of $5,000 Paid the dividend Closed the accounts What was the total amount of cash dividend to preferred, to common (P 635 636) What was the amount of dividend per share to preferred, to common Prepare a Balance Sheet for 12 31 2019 Compute earnings per share Prepare a Statement of Retained Earnings for 2019 2020 Purchased 1,500 shares of treasury stock for $20 per share (p 644) Sold 1,000 shares of the treasury stock for $22 per share (p 644) Declared a 10 stock dividend on common stock when the market price was $22 per share (p 641 642) Issued the stock dividend (p 641 642) Declared a cash dividend of $10,000 Paid the cash dividend Recorded revenue for cash of $75,000 Recorded expenses for cash of $40,000 Closed the accounts Prepare a balance sheet for 2020 Compute earnings per share for 2020 Prepare a Statement of Retained Earnings for 2020 For 2020, calculate the amount of cash dividends paid to preferred and to common shareholders Calculate the dividends per share to preferred and to common

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Transactions for the BUS 130 Corporation The BUS 130 Corporation was organized in 2018. Its charter authorizes it to issue 100,000 shares of $10 par

Transactions for the BUS 130 Corporation

The BUS 130 Corporation was organized in 2018. Its charter authorizes it to issue 100,000 shares of $10 par common stock and 50,000 shares of $50 par, 6%, cumulative preferred stock. The following transactions relate to years 2018, 2019, and 2020. (See pages 634 & 635 for issues related to authorized, issued, par value, & preferred stock) Post the effects of these transactions to the appropriate T accounts.

2018

Issued 1,000 shares of common stock at par (p. 637)

Issued 500 shares of common stock at $15 per share (p. 637)

Issued 1,500 shares of common stock for a building and equipment with fair market values of $10,000 and $7,500 respectively (p. 638)

Sales revenue for cash totaled $10,000

Expenses incurred for cash totaled $5,000

Declared a $3,000 dividend (P. 640 & 641)

Paid the dividend (p. 640 & 641)

Closed the accounts at year end

What was the amount of cash dividend per share for the common stockholders?

Prepare a Retained Earnings Statement (p. 647) and a Balance Sheet (Stockholders equity section, p. 646) for 12/31/2018. Compute earnings per share (p. 651).

2019

Issued 2,000 shares of common stock for $20 per share

Issued 500 shares of preferred stock for $55 per share

Sales revenue for cash totaled $50,000

Expenses incurred for cash totaled $30,000

Declared a dividend of $5,000

Paid the dividend

Closed the accounts

What was the total amount of cash dividend to preferred, to common? (P. 635 & 636)

What was the amount of dividend per share to preferred, to common?

Prepare a Balance Sheet for 12/31/2019. Compute earnings per share. Prepare a Statement of Retained Earnings for 2019.

2020

Purchased 1,500 shares of treasury stock for $20 per share (p. 644)

Sold 1,000 shares of the treasury stock for $22 per share (p. 644)

Declared a 10% stock dividend on common stock when the market price was $22 per share (p. 641-642)

Issued the stock dividend (p. 641-642)

Declared a cash dividend of $10,000

Paid the cash dividend

Recorded revenue for cash of $75,000

Recorded expenses for cash of $40,000

Closed the accounts

Prepare a balance sheet for 2020

Compute earnings per share for 2020

Prepare a Statement of Retained Earnings for 2020

For 2020, calculate the amount of cash dividends paid to preferred and to common shareholders. Calculate the dividends per share to preferred and to common?