Declared and distributed a 2 stock dividend to common

Reference no: EM13568500

Thomson Corporation
Stockholder's Equity
December 31, 2007

Common stock (40,000 authorized, 25,000 issued and
outstanding with par value of $10 per share.) $ 250,000.00

Excess paid in capital on common stock $ 125,000.00

Retained Earnings $ 500,000.00
Total stockholder's equity $ 875,000.00

During the current year, Thomson had the following stock transactions:

• The company authorized the sale of 10% preferred stock, 50,000 shares at par value of $50.
• Sold 20,000 shares of preferred stock at $75 per share.
• Purchased 5,000 shares of common stock at $20 per share for cash.
• Declared and distributed a 2% stock dividend to common stockholders when market price was $25 per share.
• Declared and paid $90,000 in cash dividends to common and preferred stockholders.
• Sold 2,000 shares of treasury stock at $16 per share.
• Net loss is $134,000.

Required:
1. Prepare the stockholder's equity section of the balance sheet for year end 2008.

Reference no: EM13568500

Questions Cloud

If most youth gangs are racially and ethnically homogeneous : 1 if most youth gangs are racially and ethnically homogeneous should law enforcement use race and ethnic-specific

Fabricator inc a specialized equipment manufacturer uses a : fabricator inc. a specialized equipment manufacturer uses a job order costing system. the overhead is allocated to jobs

Simplicity printers is considering a project with the : simplicity printers is considering a project with the following cash flowsinitial outlay 126000cash flows year 1

If a companys accounts receivable balance is continually : need accounting help for the following questionsa how does an increase in accounts receivable affect a companys net

Declared and distributed a 2 stock dividend to common : thomson corporationstockholders equitydecember 31 2007common stock 40000 authorized 25000 issued andoutstanding with

If the var for a portfolio is three million dollars what is : how is value at risk var defined for a condence level of 99 and a time horizon of one week? if the var for a portfolio

The purpose of the essay is to encourage in-depth research : instructionschoose a topic to write your research essay on that relates to the course content and email the instructor

Rocky mountain manufacturing produces a single product the : rocky mountain manufacturing produces a single product. the original budget for november was based on expected

Given the following information answer the following : given the following information answer the following questiontr 3qtc 1500 2qa. what is the break-even level of

User Account

All Pages