Business, 05.12.2019 18:31, witcol386

Power drive corporation designs and produces a line of golf equipment and golf apparel. power drive has 100,000 shares of common stock outstanding as of the beginning of 2018. power drive has the following transactions affecting stockholders' equity in 2018.

march 1 issues 65,000 additional shares of $1 par value common stock for $62 per share.
may 10 repurchases 6,000 shares of treasury stock for $65 per share.
june 1 declares a cash dividend of $2.00 per share to all stockholders of record on june 15. (hint: dividends are not paid on treasury stock.)
july 1 pays the cash dividend declared on june 1.
october 21 reissues 3,000 shares of treasury stock purchased on may 10 for $70 per share.

power drive corporation has the following beginning balances in its stockholders' equity accounts on january 1, 2018: common stock, $100,000; additional paid-in capital, $5,500,000; and retained earnings, $3,000,000. net income for the year ended december 31, 2018, is $700,000.

required:

prepare the statement of stockholders' equity for power drive corporation for the year ended december 31,

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 13:10, princessgabbee8452

Paid-in-capital in excess of par represents the amount of proceeds a. from the original sale of common stock b. in excess of the par value from the original sale of common stock c. at the current market value of the common stock d. at the curent book value of the common stock

Answers: 1

continue

Business, 22.06.2019 16:00, MC2007

Which plan offers a tax-free education?

Answers: 1

continue

Business, 22.06.2019 16:40, krystalsozaa

Determining effects of stock splits oracle corp has had the following stock splits since its inception. effective date split amount october 12, 2000 2 for 1 january 18, 2000 2 for 1 february 26, 1999 3 for 2 august 15, 1997 3 for 2 april 16, 1996 3 for 2 february 22, 1995 3 for 2 november 8, 1993 2 for 1 june 16,1989 2 for 1 december 21, 1987 2 for 1 march 9, 1987 2 for 1 a. if the par value of oracle shares was originally $2, what would oracle corp. report as par value per share on its 2015 balance sheet? compute the revised par value after each stock split. round answers to three decimal places.

Answers: 1

continue

Business, 22.06.2019 19:40, cieloromero1

Moody corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. at the beginning of the year, the company made the following estimates: machine-hours required to support estimated production 100,000 fixed manufacturing overhead cost $ 650,000 variable manufacturing overhead cost per machine-hour $ 3.00 required: 1. compute the plantwide predetermined overhead rate. 2. during the year, job 400 was started and completed. the following information was available with respect to this job: direct materials $ 450 direct labor cost $ 210 machine-hours used 40

Answers: 3

continue

Do you know the correct answer?

Power drive corporation designs and produces a line of golf equipment and golf apparel. power drive...