Business, 31.12.2020 19:20, hartzpeyton136
Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value common. The following transactions affect stockholders’ equity during 2021, its first year of operations:
January 2 Issue 110,000 shares of common stock for $51 per share.
February 14 Issue 41,000 shares of preferred stock for $12 per share.
May 8 Repurchase 11,000 shares of its own common stock for S60 per share.
May 31 Reissue 5,500 shares of treasury stock for S65 per share.
December 1 Declare a cash dividend on its common stock of $0.25 per share and a $36,000 (6% of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. December December 30Pay the cash dividends declared on December 1.
Required:
a. Record each of these transactions.
b. Prepare the stockholders' equity section of the balance sheet as of December 31, 2015. Net income for the year was $490,000.
Answers: 3
Other questions on the subject: Business
Business, 21.06.2019 17:00, dondre54
While information systems can be used to gain a strategic advantage, they have inherent risks. hershey foods, for example, crippled its halloween sales when its complex is system failed to support its supply and inventory needs during peak production season. this is an example of which specific is risk
Answers: 3
Business, 22.06.2019 03:30, emmanuelcampbel
Nellie lumpkin, who suffered from dementia, was admitted to the picayune convalescent center, a nursing home. because of her mental condition, her daughter, beverly mcdaniel, signed the admissions agreement. it included a clause requiring the par- ties to submit any dispute to arbitration. after lumpkin left the center two years later, she filed a suit against picayune to recover damages for mistreatment and malpractice. [covenant health & rehabilitation of picayune, lp v. lumpkin, 23 so.2d 1092 (miss. app. 2009)] (see page 91.) 1. is it ethical for this dispute—involving negligent medical care, not a breach of a commercial contract—to be forced into arbitration? why or why not? discuss whether medical facilities should be able to impose arbitration when there is generally no bargaining over such terms.
Answers: 3
Business, 22.06.2019 20:50, ineedhelpireallydo
Power plants that rely on coal increase the amount of sulfur dioxide that dissolves into the air, eventually increasing the acidity of precipitation. the higher acidity of rain and snow can damage forests by making it more difficult for plants to absorb minerals from the soil. the equations below provide information about the market demand and supply of electricity. there is a constant marginal external cost of $25 per unit of electricity. d: qd= 200 – 2ps: qs=p – 10what quantity of electricity satisfies allocative efficiency in this market? a. 60b. 70c. 50d. 43.3
Answers: 2
Do you know the correct answer?
Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value co...
Questions in other subjects:
Mathematics, 11.02.2021 20:10
History, 11.02.2021 20:10
Mathematics, 11.02.2021 20:10
