Reference no: EM131831212
Question: The ledger of Waite Corporation at December 31, 2017, after the books have been closed, contains the following stockholders' equity accounts.
A review of the accounting records reveals this information:
1. Preferred stock is 8%, $100 par value, noncumulative. Since January 1, 2016, 10,000 shares have been outstanding; 20,000 shares are authorized.
2. Common stock is no-par with a stated value of $5 per share; 600,000 shares are authorized.
3. The January 1, 2017, balance in Retained Earnings was $2,380,000.
4. On October 1, 60,000 shares of common stock were sold for cash at $9 per share.
5. A cash dividend of $400,000 was declared and properly allocated to preferred and common stock on November 1. No dividends were paid to preferred stockholders in 2016.
6. Net income for the year was $880,000.
7. On December 31, 2017, the directors authorized disclosure of a $160,000 restriction of retained earnings for plant expansion. (Use Note A.)
Instructions: (a) Reproduce the Retained Earnings account (T-account) for the year.
(b) Prepare the stockholders' equity section of the balance sheet at December 31.
Compound average growth rate
: A compound average growth rate (CAGR) takes volatility into account.
|
Compute the company debt to assets ratio
: Cabo Company has $1,000,000 in assets and $1,000,000 in stockholders' equity, with 40,000 shares outstanding the entire year.
|
Ability to tailor your communicating for different audiences
: In our class discussions, we referred to the ability to tailor your communicating for different audiences as
|
Journalize the declaration for independent assumptions
: Journalize the declaration of a 15% stock dividend on December 10, 2017, for the following two independent assumptions.
|
Reproduce the retained earnings account for the year
: The ledger of Waite Corporation at December 31, 2017, after the books have been closed, contains the following stockholders' equity accounts.
|
True regarding communication-concern of problem framing
: What is the primary concern of problem framing? Which of the following are true regarding communication?
|
Calculate return on common stockholders equity
: On January 1, 2017, Vahsholtz Corporation purchased 5,000 shares of treasury stock. Other information regarding Vahsholtz Corporation is provided as follows.
|
Explain the differences to the directors
: The board of directors is considering a stock split or a stock dividend. They understand that total stockholders' equity will remain the same.
|
What is the purpose of a retained earnings restriction
: What was the total cost of Apple's treasury stock at September 27, 2014? What was the amount of the 2014 cash dividend?
|