Reference no: EM132907257
Question - Walden Extreme Corp. reported the following amounts in the shareholders' equity section of its December 31, 2019 Statement of Financial Position: Preferred shares, 8% cumulative (10,000 shares auth, 2,000 shares issued) $ 8,000,000 Common shares (unlimited authorized, 120,000 issued) 15,000,000 Contributed surplus 55,000 Retained earnings 7,895,000 Accumulated other comprehensive income 125,000 Total $31,075,000 During 2020, the company had the following transactions that affect shareholders' equity, in sequential order (the order that they happened).
a. Bought back and retired 4,000 common shares. The market price for common shares was $135/sh.
b. Issued a 4-for-1 common stock split. Just before the split, the market price was $140.
c. Declared and issued a 20% common stock dividend. No other dividends were declared for the year. Market price was $34 per common share at the time.
d. Bought back and retired 20,000 common shares. Market price was $37 per common share at the time. The contribution surplus arose from next excess of proceeds over cost on a previous cancellation of common shares. Net income for 2020 was $1,175,000.
Required - Prepare all the necessary journal entries association with the above transactions. Prepare the December 31, 2020 shareholders' equity section of the Statement of Financial Position (exact same format as above, including shares outstanding).
|
Find the sample standard deviation
: Sample annual salaries (in thousands of dollars) for public elementary school teachers are listed. Find the sample standard deviation.
|
|
Find and draw the distribution function
: Now flip a coin only 3 times and let X be the number of heads. Find and draw the distribution function.
|
|
Shape of the sampling distribution of sample proportion
: -(a) What is the shape of the sampling distribution of the sample proportion of defective garments for random samples of size 200? How do you know?
|
|
Probability of drawing a blue marble
: Given that a box has 3 blue marbles, 2 red marbles, and 4 yellow marbles, use the probability formulas to answer the following questions.
|
|
Prepare all the necessary journal entries
: Bought back and retired 4,000 common shares. The market price for common shares was $135/sh. Prepare all the necessary journal entries
|
|
Explain least-squares regression line
: Seventeen different hot dog brands were measured for sodium content (mg) and the number of calories in each hot dog. A least-squares regression equation of the
|
|
Find the probability of 5 randomly selected graduates
: Find the probability that among 5 randomly selected graduates, at least one of them enrolls in college.
|
|
What is weighted cost for debt
: What is weighted cost for debt of 5,000,000.00, preferred stock of 1,200,000.00, common stock of 1,800,000.00. with an 8% cost of capital and 30 tax rate
|
|
How internal control relevant in success of an organization
: How is internal control relevant in the success of an organization. Explain management override and how does it affect internal control implementation
|