URCES Exercise 15-18 Monty Company reported the following amounts in the stockholders' equity section of its December 31, 2016, balan sheet. ce Preferred stock, 10%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (108,000 shares authorized, 21,600 shares issued) Additional paid-in capital Retained earnings 108,000 119,000 419,000 $846,000 by Study Total During 2017, Monty took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2016 $10 per share dividend on preferred stock and a $2 per share dividend on common st These dividends had been declared on December 31, 2016. 2. Purchased 1.700 sh 3. Reissued 600 treasury shares for land valued at $27,800. 4. Issued 480 shares of preferred stock at $104 per share. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $42 per share. 6. Issued the stock dividend. 7. Dedared the annual 2017 $10 per share dividend on preferred stock and the $2 per share dividend on common ares of its own outstanding common stock for $41 per share. Monty uses the cost method. stock. These dividends are payable in 2018 Paid-in Capital in Excess of Par- Preferred Stock 1,920 5. Retained Earnings 86,100 Common Stock Dividend Distributable 10,250 Paid-in Capital in Excess of Par- Common Stock 75,850 6. Common Stock Dividend Distributable 10,250 Common Stock 10,250 7Retained Earnings Dividends Payable - Common Stock Dividends Payable Preferred Stock 44,200 MONTY COMPANY Stockholders' Equity CES For the Year Ended December 31, 2017 Additional Paid-in Capital Preferred Stock 200,000 Study Common Stock 108,000 Additional Paid-in Capital 308,000 URCES Exercise 15-18 Monty Company reported the following amounts in the stockholders' equity section of its December 31, 2016, balan sheet. ce Preferred stock, 10%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (108,000 shares authorized, 21,600 shares issued) Additional paid-in capital Retained earnings 108,000 119,000 419,000 $846,000 by Study Total During 2017, Monty took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2016 $10 per share dividend on preferred stock and a $2 per share dividend on common st These dividends had been declared on December 31, 2016. 2. Purchased 1.700 sh 3. Reissued 600 treasury shares for land valued at $27,800. 4. Issued 480 shares of preferred stock at $104 per share. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $42 per share. 6. Issued the stock dividend. 7. Dedared the annual 2017 $10 per share dividend on preferred stock and the $2 per share dividend on common ares of its own outstanding common stock for $41 per share. Monty uses the cost method. stock. These dividends are payable in 2018 Paid-in Capital in Excess of Par- Preferred Stock 1,920 5. Retained Earnings 86,100 Common Stock Dividend Distributable 10,250 Paid-in Capital in Excess of Par- Common Stock 75,850 6. Common Stock Dividend Distributable 10,250 Common Stock 10,250 7Retained Earnings Dividends Payable - Common Stock Dividends Payable Preferred Stock 44,200 MONTY COMPANY Stockholders' Equity CES For the Year Ended December 31, 2017 Additional Paid-in Capital Preferred Stock 200,000 Study Common Stock 108,000 Additional Paid-in Capital 308,000
