1 / 13

Chapter 13

Chapter 13. Homework Part I. S13-6. 1. Millions Common stock, December 31, 2002.........……. $ 875 Common stock, December 31, 2001..........…… 873 Increase during 2002.......................………… $ 2 Paid-in capital in excess of par, December 31, 2002 $3,855

decima
Télécharger la présentation

Chapter 13

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Chapter 13 Homework Part I

  2. S13-6 1. Millions Common stock, December 31, 2002.........……. $ 875 Common stock, December 31, 2001..........…… 873 Increase during 2002.......................………… $ 2 Paid-in capital in excess of par, December 31, 2002 $3,855 Paid-in capital in excess of par, December 31, 2001……………………………. 3,520 Increase during 2002.........................………. 335 Total increase in paid-in capital during 2002.. $337 Coca-Cola must have issued common stock during 2002, as shown by the increase in the Common Stock account. 2.Coca-Cola had a profit during 2002, as indicated by the increase in Retained Earnings.

  3. S13-10 Dec 15 Retained earnings 31,000* Dividends payable 31,000 To record declaration of dividend Jan 4 Dividends payable 31,000 Cash 31,000 To record payment of dividend *Preferred: $100,000 X .06 = 6,000 Common: $.50 x 50,000 = 25,000 $31,000

  4. E13-3 Aug 6 Cash 15,000 Common stock 500 Paid in capital in excess of par common 10,000 Issued 500 shares of common 12 Cash 20,000 Preferred stock 20,000 Issued 300 shares of preferred

  5. E13-3 Aug 14 Land 26,000 Common stock 1,000 Paid in capital in excess of par common 25,000 Issued stock for land 31 Income summary 25,000 Retained earnings 25,000 Closed income summary

  6. E13-3 Stockholders’ Equity Paid-in capital: Preferred stock, $3, no-par, 100,000 shares authorized, 300 shares issued……………….. $20,000 Common stock, $1 par, 500,000 sharesauthorized, 1,500 shares issued……………. 1,500 Paid-in capital in excess of par—common………………………………………… 39,500 Total paid-in capital…………………………… 61,000 Retained earnings………………………………... 25,000 Total stockholders’ equity……………………… $86,000

  7. E13-4 (a) Cash 50,000 Common stock 50,000 Issued common stock (b) Cash 50,000 Common stock 10,000 Paid in capital in excess of stated value 40,000 Issued common stock

  8. 13-2A

  9. 13-2A Stockholders’ Equity Paid-in capital: Preferred stock, 6%, $100 par, 10,000 shares authorized, 1,100 shares issued $110,000 Common stock, no-par, 250,000 shares authorized, 11,600*shares issued 116,000 Total paid-in capital 226,000 Retained earnings 40,000 Total stockholders’ equity $266,000 $101,000 + $15,000 = $116,000 *6,300 + 3,800 + 1,500 = 11,600

  10. 13-3A Req. 1 5% is the annual dividend rate on the preferred stock. Annual dividend on 1,000 shares = $500 ($10 par  .05  1,000 shares) Req. 2 Issue price of common stock during 20X4 = $5 per share ($20,000 + $30,000) / 10,000 shares.

  11. 13-3A Req. 3 First-year operations were not profitable, as shown by the deficit in Retained Earnings.

  12. 13-3A

  13. 13-3 AReq. 5 (Stockholders’ equity at December 31, 20X5)

More Related