Stock-holders equity section of the balance sheet

Reference no: EM13154887

Global Marine Company obtained a charter from the state in January 2009, which authorized 212,000 shares of common stock, $5.5 par value. During the first year, the company earned $37,700 and the following selected transactions occurred in the order given:

a. Sold 60,500 shares of the common stock in an initial public offering at $14.5 per share.

b. Repurchased 2,800 shares of the previously issued shares at $17.5 cash per share for treasury stock..

c. Resold 1,400 of the shares of the treasury stock at $20 cash per share.

Required:

Prepare the stockholders' equity section of the balance sheet at December 31, 2009. Amounts in parentheses do not require a minus sign in front of them.

Reference no: EM13154887

Questions Cloud

Determine the cost of head lamps : Determine the cost of head lamps that would appear in each of the following accounts at September 30, 2011: Raw Materials, Work in Process, Finished Goods, Cost of Goods Sold, and Selling Expenses.

Determining liability for outstanding premiums : In 2008, the company sold 675,000 boxes of Frosted Flakes and customers redeemed 330,000 box tops receiving 110,000 bowls. If the bowls cost Milner Company $2.50 each, how much liability for outstanding premiums should be recorded at the end of 20..

How many liters of o2 are needed to react completely : How many liters of O2 are needed to react completely with 45.0L of H2S at STP? 2H2S(g) + 3O2(g) -> 2SO2(g) +2H20(g)

Angioplasty is a medical procedure : Angioplasty is a medical procedure in which an obstructed blood vessel is widened. In some cases, a wire mesh tube, called a stent, is placed in the vessel to help it remain open.

Stock-holders equity section of the balance sheet : Prepare the stockholders' equity section of the balance sheet at December 31, 2009. Amounts in parentheses do not require a minus sign in front of them.

Result of negligence on company part : Vernon Co. is being sued for illness caused to local residents as a result of negligence on the company's part in permitting the local residents to be exposed to highly toxic chemicals from its plant. Vernon's lawyer states that it is probable tha..

Cawley company makes three models of tasers : Fixed expenses consist of $300,000 of common costs allocated to the three products based on relative sales, and additional fixed expenses of $30,000 (Tingler), $80,000 (Shocker), and $35,000 (Stunner). The common costs will be incurred regardless of ..

How many grams of co are needed : How many grams of CO are needed to react with an excess of Fe2O3 to produce 209.7g Fe? Fe2O3(s) + 3CO(g) -> 3CO2(g) + 2Fe(s)

Makaela took a spanish exam : Makaela took a spanish exam; her grade was 79. The distribution was normally shaped with xobt =70 and s = 12. Jaun took a history exam; his grade was 86

User Account

All Pages