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Stockholders' Equity Paid-In Capital: Common Stock-$10 Par Value; 350,000 shares authorized, 32,000 shares issued and outstanding $ 320,000 Paid-In Capital in Excess of Par-Common Total Paid-In Capital 330,000 650,000 Retained Earnings Total Stockholders' Equity 160,000 $ 810,000 Feb. 6 Declared a 15% stock dividend on common stock. The market value of Goldstein's stock was $25 per share. 15 Distributed the stock dividend. Jul. 29 Purchased 2,300 shares of treasury stock at $25 per share. Nov. 27 Declared a $0.10 per share cash dividend on the common stock outstanding.

Stockholders' Equity Paid-In Capital: Common Stock-$10 Par Value; 350,000 shares authorized, 32,000 shares issued and outstanding $ 320,000 Paid-In Capital in Excess of Par-Common Total Paid-In Capital 330,000 650,000 Retained Earnings Total Stockholders' Equity 160,000 $ 810,000 Feb. 6 Declared a 15% stock dividend on common stock. The market value of Goldstein's stock was $25 per share. 15 Distributed the stock dividend. Jul. 29 Purchased 2,300 shares of treasury stock at $25 per share. Nov. 27 Declared a $0.10 per share cash dividend on the common stock outstanding.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 11MC: A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional...
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Journalizing dividend and treasury stock transactions, preparing a statement of retained earnings, and preparing stockholders’ equity

The balance sheet of Goldstein Management Consulting, Inc. at December 31, 2017, reported the following stockholders’ equity:

During 2018, Goldstcin completed thc Following selected transactions:

Requirements

  1. Record the transactions in the general journal.
  2. Prepare a retained earnings statement for the year ended December 31, 2018. Assume Goldstein’s net income for the year was $90,000.
  3. Prepare the stockholders’ equity section of the balance sheet at December 31, 2018.

 

Stockholders' Equity Paid-In Capital: Common Stock-$10 Par Value; 350,000 shares authorized, 32,000 shares issued and outstanding $ 320,000 Paid-In Capital in Excess of Par-Common Total Paid-In Capital 330,000 650,000 Retained Earnings Total Stockholders' Equity 160,000 $ 810,000
Transcribed Image Text:Stockholders' Equity Paid-In Capital: Common Stock-$10 Par Value; 350,000 shares authorized, 32,000 shares issued and outstanding $ 320,000 Paid-In Capital in Excess of Par-Common Total Paid-In Capital 330,000 650,000 Retained Earnings Total Stockholders' Equity 160,000 $ 810,000
Feb. 6 Declared a 15% stock dividend on common stock. The market value of Goldstein's stock was $25 per share. 15 Distributed the stock dividend. Jul. 29 Purchased 2,300 shares of treasury stock at $25 per share. Nov. 27 Declared a $0.10 per share cash dividend on the common stock outstanding.
Transcribed Image Text:Feb. 6 Declared a 15% stock dividend on common stock. The market value of Goldstein's stock was $25 per share. 15 Distributed the stock dividend. Jul. 29 Purchased 2,300 shares of treasury stock at $25 per share. Nov. 27 Declared a $0.10 per share cash dividend on the common stock outstanding.
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