Business, 06.06.2020 17:57, leelee8335

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 2015. Power Drive has the following transactions affecting stockholders' equity in 2015: 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, 2015: 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, 2015, is $700,000
Required:
Prepare the statement of stockholders equity for Power Drive Corporation for the year ended December 31, 2015.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 16:00, fahaddakhil3186

Suppose matt and bree go out to get pizza. they order breadsticks and a large pepperoni pizza. after eating the breadsticks, and one piece of pizza bree decides to have an additional piece, but she does not eat a third piece. if bree is a rational individual why did she not eat the third piece of pizza? the marginal cost of the

Answers: 2

continue

Business, 22.06.2019 00:50, tommyaberman

Suppose that: 1. malaysia requires 1 hour of labor to produce 1 pound of rice and 2 hours of labor to produce 1 pencil; 2. indonesia requires 2 hours of labor to produce 1 pound of rice and 4 hours of labor to produce 1 pencil; 3. each country has 10,000 hours of labor to allocate between the production of rice and pencils; and 4. in autarky, malaysia consumes 5,000 pounds of rice and 2,500 pencils. which country has an absolute advantage in rice production? in pencil production? which country has a comparative advantage in rice production? in pencil production? will trade between the two countries be mutually beneficial?

Answers: 1

continue

Business, 22.06.2019 02:20, gabegabemm1

The following information is available for jase company: market price per share of common stock $25.00 earnings per share on common stock $1.25 which of the following statements is correct? a. the price-earnings ratio is 20 and a share of common stock was selling for 20 times the amount of earnings per share at the end of the year. b. the market price per share and the earnings per share are not statistically related to each other. c. the price-earnings ratio is 5% and a share of common stock was selling for 5% more than the amount of earnings per share at the end of the year. d. the price-earnings ratio is 10 and a share of common stock was selling for 125 times the amount of earnings per share at the end of the year.

Answers: 1

continue

Business, 22.06.2019 07:00, aljalloh94

Ireally need with these questions.6. what level of job security do athletes and sports competitors have? why do you think this is? 22. do you think a musician has more job security than an athlete? explain.37. what is the difference between a public relations specialist and a marketing professional? 47. do you think gender inequalities still exist in the sports industry? explain.50. what are the advantages and disadvantages of labor unions? do you think labor unions are fair to employers? how might they be taken advantage of?

Answers: 1

continue

Do you know the correct answer?

Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive...