Complete the Stockholders Equity section for ITC

Assignment Help Accounting Basics
Reference no: EM132742094

Question - The following equity data relates to Ike's Tuba Corporation (ITC) for 20Y2:

A 10% stock dividend was declared and issued to common stockholders in January when the stock was trading for $4 per share

Common stock cash dividends of $0.10 per share were declared and paid in March

80,000 shares were issued from Treasury Stock in April at a price of $2 each

100,000 shares of common stock were repurchased in September at a price of $6 each

200,000 shares of common stock were exchanged for a building when the shares were trading at $8. The building had an appraised value of $2 million. The shares are actively traded.

Net Income for the year was $600,000

Required - Complete the Stockholders' Equity section for ITC as of the end of 20Y2. Remember that cash and stock dividends are not paid on shares that are in treasury.

Reference no: EM132742094

Questions Cloud

What should the gain be on sale of this investment : Pharoah sold half of its stock in Sheridan for $672000 cash. What should the gain be on sale of this investment
Calculate the balance of the investment account : On January 1st 2019, Nizwa Corp purchased a 100% interest in Al Izz Corp for $500,000. On the date of acquisition, book value of Al Izz consists.
Compute ainsworth net loss per share for the year : Compute Ainsworth's net loss per share for the year ended December 31, 2018. On December 31, 2017, Ainsworth, Inc., had 720 million shares
What is systematic risk and what is unsystematic risk : What is 'systematic' risk and what is 'unsystematic' risk? With citing reasons classify the following events as a source of systematic risk or unsystematic.
Complete the Stockholders Equity section for ITC : Complete the Stockholders' Equity section for ITC as of the end of 20Y2. Remember that cash and stock dividends are not paid on shares that are in treasury
What is net present value of the investment for x company : X Company is considering conducting an immediate advertising campaign. Assuming a discount rate of 6%, what is the net present value of this investment?
How much will the expected return on boeing stock change : If the expected return on the market portfolio increases by 0.45%, by how much will the expected return on Boeing's stock change?
Calculate the unlevered cash flows from a project : Solar Energy Corp. has to value a project that will run for 3 years. The company has already spent $10 million on research and development associated.
Determine what is the margin of safety in dollars : Total fixed costs equal $18,000. The breakeven in units is 450, and we expect to sell 400 units. What is the margin of safety in dollars?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd