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Common stock, $1 par, 244,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 18,000 shares outstanding Retained earnings Treasury stock, at cost, 4,400 shares $ 244,000 488,000 180,000 1,800,000 3,600,000 22,000 During 2024, Dolar Incorporated had several transactions relating to common stock. January 15: February 17: April 10: July 18: December 1: Declared a property dividend of 100,000 shares of Burak Company (book value $11.6 per share, fair value $9.80 per share). Distributed the property dividend. A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Dolar chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. Declared and distributed a 4% stock dividend on outstanding common stock. The fair value is $5 per share. Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend. Required: Without preparing journal entries, prepare the shareholders' equity section of Dolar's balance sheet as of December 31, 2024. Assum met income is $440,000 for 2024. Note: Negative amounts should be entered with a minus sign. Answer is not complete. Dolar Incorporated Balance Sheet (Partial) December 31, 2024 Shareholders' equity Common stock 502,768

Common stock, $1 par, 244,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 18,000 shares outstanding Retained earnings Treasury stock, at cost, 4,400 shares $ 244,000 488,000 180,000 1,800,000 3,600,000 22,000 During 2024, Dolar Incorporated had several transactions relating to common stock. January 15: February 17: April 10: July 18: December 1: Declared a property dividend of 100,000 shares of Burak Company (book value $11.6 per share, fair value $9.80 per share). Distributed the property dividend. A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Dolar chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. Declared and distributed a 4% stock dividend on outstanding common stock. The fair value is $5 per share. Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend. Required: Without preparing journal entries, prepare the shareholders' equity section of Dolar's balance sheet as of December 31, 2024. Assum met income is $440,000 for 2024. Note: Negative amounts should be entered with a minus sign. Answer is not complete. Dolar Incorporated Balance Sheet (Partial) December 31, 2024 Shareholders' equity Common stock 502,768

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5P: Alert Companys shareholders equity prior to any of the following events is as follows: The company...
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Common stock, $1 par, 244,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 18,000 shares outstanding Retained earnings Treasury stock, at cost, 4,400 shares $ 244,000 488,000 180,000 1,800,000 3,600,000 22,000 During 2024, Dolar Incorporated had several transactions relating to common stock. January 15: February 17: April 10: July 18: December 1: Declared a property dividend of 100,000 shares of Burak Company (book value $11.6 per share, fair value $9.80 per share). Distributed the property dividend. A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Dolar chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. Declared and distributed a 4% stock dividend on outstanding common stock. The fair value is $5 per share. Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend. Required: Without preparing journal entries, prepare the shareholders' equity section of Dolar's balance sheet as of December 31, 2024. Assum met income is $440,000 for 2024. Note: Negative amounts should be entered with a minus sign. Answer is not complete. Dolar Incorporated Balance Sheet (Partial) December 31, 2024 Shareholders' equity Common stock 502,768
Transcribed Image Text:Common stock, $1 par, 244,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 18,000 shares outstanding Retained earnings Treasury stock, at cost, 4,400 shares $ 244,000 488,000 180,000 1,800,000 3,600,000 22,000 During 2024, Dolar Incorporated had several transactions relating to common stock. January 15: February 17: April 10: July 18: December 1: Declared a property dividend of 100,000 shares of Burak Company (book value $11.6 per share, fair value $9.80 per share). Distributed the property dividend. A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Dolar chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. Declared and distributed a 4% stock dividend on outstanding common stock. The fair value is $5 per share. Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend. Required: Without preparing journal entries, prepare the shareholders' equity section of Dolar's balance sheet as of December 31, 2024. Assum met income is $440,000 for 2024. Note: Negative amounts should be entered with a minus sign. Answer is not complete. Dolar Incorporated Balance Sheet (Partial) December 31, 2024 Shareholders' equity Common stock 502,768
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