Reference no: EM13510895
Buellton Welding Corporation sells and services pipe welding equipment in California. The following selected accounts appear in the ledger of
Buellton Welding Corporation on January 1, 2008, the beginning of the current fiscal year:
Preferred 2% Stock, $50 par (100,000 shares authorized,
50,000 shares issued) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,500,000
Paid-In Capital in Excess of Par-Preferred Stock . . . . . . . . . . . 180,000
Common Stock, $15 par (900,000 shares authorized,
600,000 shares issued) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000,000
Paid-In Capital in Excess of Par-Common Stock . . . . . . . . . . . 1,500,000
Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,100,000
During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows:
a. Purchased 25,000 shares of treasury common for $650,000.
b. Sold 18,000 shares of treasury common for $576,000.
c. Sold 10,000 shares of preferred 2% stock at $80.
d. Issued 40,000 shares of common stock at $30, receiving cash.
e. Sold 6,000 shares of treasury common for $150,000.
f. Declared cash dividends of $1 per share on preferred stock and $0.10 per share on common stock.
g. Paid the cash dividends.
Instructions
Journalize the entries to record the transactions. Identify each entry by letter.
|
What is the radius of a hydrogen-filled balloon
: What is the radius of a hydrogen-filled balloon that would carry a load of 3700 N (in addition to the weight of the hydrogen) when the density of air is 1.29 kg/m3
|
|
Journalize each transaction
: Indicate the effect each transaction has on the accounting equation (Assets = Liabilities + Owner's Equity), using plus and minus signs.
|
|
Journalize the entries required
: Big Ben Corporation has 250,000 shares of $50 par common stock outstanding. On May 10, Big Ben Corporation declared a 2% stock dividend to be issued August 1 to stockholders of record on June 9. The market price of the stock was $60 per share on M..
|
|
Compute the thermal conductivity of the styrofoam
: A Styrofoam box has a surface area of 0.79 m2 and a wall thickness of 2.0 cm. determine the thermal conductivity of the Styrofoam
|
|
Journalize the entries to record the transactions
: During the year, the corporation completed a number of transactions affecting the stockholders' equity.
|
|
Determine the temperature at the junction
: A bar of lead (bar A) is in thermal contact with a bar of silver (bar B) of the same length and area, Find the temperature at the junction when the energy flow reaches a steady state
|
|
Find the wave speed for the transverse traveling waves
: A guitar string is vibrating in its fundamental mode, with nodes at each end. The length of the segment of the string that is free to vibrate is 0.388m. What is the wave speed for the transverse traveling waves on this string
|
|
Determine bank of america dividend yield
: In addition, Bank of America had earnings per share of $4.05 and dividend per share was $1.95. Determine Bank of America's dividend yield. Round to one decimal place.
|
|
Create t-accounts for each of accounts on a balance sheet
: Explain why you did or did not record item d, the hiring of the president, in a T-account - Prepare a balance sheet at December 31, 2013. Classify the balance sheet as appropriate (into current assets, fixed assets, and so on).
|