Prepare stockholders equity section

Assignment Help Financial Accounting
Reference no: EM13508492

Prepare stockholders' equity section

The stockholders' equities of Pal Corporation and Sip Corporation at January 1 were as follows (in thousands):


Pal

Sip

Capital stock, $10 par

$3,000

$1,600

Other paid-in capital

400

800

Retained earnings

1,200

600

Stockholders' equity

$4,600

$3,000

On January 2, Pal issued 300,000 of its shares with a market value of $20 per share for all of Sip's shares, and Sip was dissolved. On the same day, Pal paid $10,000 to register and issue the shares and $20,000 for other direct costs of combination.

REQUIRED: Prepare the stockholders' equity section of Pal Corporation's balance sheet immediately after the acquisition on January 2.

 

Reference no: EM13508492

Questions Cloud

What current must exist in the conductor : What current must exist in the conductor for the tension in the supporting wires to be zero when the magnetic field is 3.40 T into the page
How to prepare the income statement for the year : Suppose a company had the following accounts and balances at year-end.
Find how many revolutions per minute is the sample making : A centrifuge is a device in which a small container of material is rotated at a high speed on a circular path. How many revolutions per minute is the sample making
Most aligned with a negotiated meaning : Which sociological perspective is most aligned with a “negotiated meaning” of marriage that is apt to be modified as the couple moves through the life course?
Prepare stockholders equity section : On January 2, Pal issued 300,000 of its shares with a market value of $20 per share for all of Sip's shares, and Sip was dissolved. On the same day, Pal paid $10,000 to register and issue the shares and $20,000 for other direct costs of combinatio..
Policies intended to reduce or eliminate homelessness : Complete a web search focusing on policies intended to reduce or eliminate homelessness. Provide an example of a potentially effective response to the problem of homelessness. Define the elements that make this solution effective.
What is the allocation rate for trumpets per setup : Musical Instruments Company manufactures two products (trumpets and trombones). Overhead costs ($175,000) have been divided into three cost pools that use the following activity drivers.
Determine the centripetal force acting on the ball : reviews the concepts that are involved in this problem. A child is twirling a 0.0211-kg ball on a string in a horizontal circle whose radius is 0.0866 m. Determine the centripetal force acting on the ball
At what speed must the chamber move : The National Aeronautics and Space Administration (NASA) studies the physiological effects of large accelerations on astronauts. At what speed must the chamber move so that an astronaut is subjected to 2.48 times the acceleration due to gravity

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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