Reference no: EM132790245
Stellar Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet.
Preferred stock, 10%, $100 par (10,000 shares authorized, 2,100 shares issued) $210,000
Common stock, $5 par (92,500 shares authorized, 18,500 shares issued) $92,500
Additional paid-in capital $132,000
Retained earnings $434,000
Total $868,500
During 2020, Stellar took part in the following transactions concerning stockholders' equity.
1. Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019.
2. Purchased 1,800 shares of its own outstanding common stock for $40 per share. Stellar uses the cost method.
3. Reissued 600 treasury shares for land valued at $30,200.
4. Issued 530 shares of preferred stock at $106 per share.
5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $47 per share.
6. Issued the stock dividend.
7. Declared the annual 2020 $10 per share dividend on preferred stock and the $2 per share dividend on common stock.
These dividends are payable in 2021.
Problem 1: Prepare journal entries to record the transactions described above.
Problem 2: Prepare the December 31, 2020, stockholders' equity section. Assume 2020 net income was $321,000.
|
Assessment - Ethical and Policy Factors in Care Coordination
: Assessment - Ethical and Policy Factors in Care Coordination - Create a detailed narrative script for your presentation, 4-5 pages in length
|
|
Calculate the value of mpc and mps
: In a 2-sector economy, when the income increases from RM400 million toRM450 million, consumption increases from 200 million to 230 million.
|
|
How much would have had in the bank
: How much would she have had in the bank at the end of 8 months? HINT: First calculate the interest rate that would have been charged on the loan.
|
|
Who has control of the money supply in the us economy
: Who has control of the money supply in the US Economy? How does Open Market Policy work?
|
|
Prepare the december stockholders equity section
: Stellar Company reported the amounts. Prepare the December 31, 2020, stockholders' equity section. Assume 2020 net income was $321,000
|
|
How can a manager influence the budgeting process
: How can a manager influence the budgeting process and ensuring budgetary numbers in unethical ways? Are there ways to identify and control this type of behavior
|
|
Allocate costs incurred by capital to appropriate columns
: Allocate the costs incurred by Capital to the appropriate columns and total each column. On March 31, 2020, Capital Investment Advisers paid $4,490,000
|
|
Make a comparative balance sheet as january and february
: Make a comparative balance sheet as January 31 and February 28, Year 13. Make a balance sheet as of January 31, Year 13. Enter the 14 transactions in T-accounts
|
|
Prepare journal entries to record the november transactions
: Prepare journal entries to record the November transactions. Natalie cashes her U.S. Savings Bonds and receives $520, which deposits in personal bank account.
|