User Account

All Pages

What was shareholders equity as of december

Assignment Help Financial Accounting
Reference no: EM132790951

The Alex Company's shareholders' equity on January 1, 2018 was $3,125,500. During 2018, Alex Company reported the following:

  • Net income of $575,325.
  • Declared cash dividends totaling $125,000; the dividends had not been paid as of December 31, 2018. Issued 10,000 shares of $5 par value common stock at $9 per share.
  • Purchased 5,000 shares of its common stock for $9.75 per share; the shares are being held as treasury shares.
  • Sold 1,500 shares of treasury stock for $9.25 per share.
  • Issued 2,000 shares of $5 par value common stock resulting from the declaration of a stock dividend during 2018; the market value of the common stock on the date of declaration was $10.25 per share.

Problem 1: What was shareholders' equity as of December 31, 2018? (Show your computations in order to get partial credit in case your answer is incorrect)

Reference no: EM132790951

Questions Cloud

Will the require journal entries and if so what do : Requires minor moderations, costing up to $5000 to make it ready for resale at a price of $35,000. Will this require journal entries and if so what do
How do the roles of reason and belief change : How do the roles of reason and belief change from ancient times through the Middle Ages? Support your view with discussion of both historical material.
Find the beginning balance of accounts receivable : Services billed to customers for the period were 150,000 and collections on account from customers were 100,000. Find beginning balance of accounts receivable
What ethical obligations do employees have in commenting : What ethical obligations do employees have in commenting about their employer on social media?
What was shareholders equity as of december : What was shareholders' equity as of December 31, 2018? Declared cash dividends totaling $125,000; the dividends had not been paid as of December
Compute the share price : Dividends are paid quarterly. Sennheiser's preferred stockholders require an annual return of 8.00%, compounded quarterly. Compute the share price
Record issuance of the bonds on December : Record issuance of the bonds on December 31, 2020, the payment of interest and amortization on June 30, 2021 and on December 31, 2021
Would recommend borrowing from a bank : A Supplier is offering your firm a cash discount. Would recommend borrowing from a bank at 18 percent annual rate to take advantage of the cash discount offer?
What was the legacy on the cold war in the west : What process was referred to as the making of "an Iron Curtain" during the Cold War? Why was perestroika the best hope for the Soviet Union.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd