In its first year of operations finishing touches has

Reference no: EM13592610

Finishing Touches has two classes of stock authorized: 8%, $12 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2012, its first year of operations:

January 2 Issues 100,000 shares of common stock for $37 per share.
February 6 Issues 2,700 shares of 8% preferred stock for $18 per share.
September 10 Repurchases 11,000 shares of its own common stock for $35 per share.
December 15 Reissues 6,400 shares of treasury stock at $46 per share.

In its first year of operations, Finishing Touches has income of $168,000 and pays dividends at the end of the year of $95,400 ($1 per share) on all common shares outstanding and $2,592 on all preferred shares outstanding.

Required:
Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2012.

Reference no: EM13592610

Questions Cloud

In january 2013 mitzu co pays 2700000 for a tract of land : in january 2013 mitzu co. pays 2700000 for a tract of land with two buildings on it. it plans to demolish building 1

The standard and actual prices per pound of raw material : the standard and actual prices per pound of raw material are 4.00 and 4.50 respectively. a total of 10500 pounds of raw

How could you convert butanenitrile into the following : how could you convert butanenitrile into the following compounds? write each step showing the reagents needed. b

Doughboy bakery would like to buy a new machine for putting : doughboy bakery would like to buy a new machine for putting icing and other toppings on pastries. these are now put on

In its first year of operations finishing touches has : finishing touches has two classes of stock authorized 8 12 par preferred and 1 par value common. the following

In the formation of diacetylferrocene the product is : in the formation of diacetylferrocene the product is always the one in which each ring is monoacetylated. why is no

Power drive corporation has the following beginning : power drive corporation designs and produces a line of golf equipment and golf apparel. power drive has 110000 shares

Before considering a net operating loss carryforward of 40 : before considering a net operating loss carryforward of 40 million fowler corporation reported 100 million of pretax

If a 2002-g sample has a mass of 1878 g after hearing find : plaster of paris csso4 x xh2o is a fractional hydrate that is one water molecule attaches to more than one formula

User Account

All Pages