Prepare only the Stockholders Equity section

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Reference no: EM132559310

Questions -

Q1. On January 2, 2019, Frederick Corporation issued 18,000 shares of $10 par value common stock for $13 per share. On April 1, 2019, Alpha reacquired 1,500 of these shares when they were trading $16 per share. On August 1, 2019 Frederick reissued 800 shares of treasury stock at the going market rate of $19 per share. Use this information to prepare the General Journal entry (without explanation) for the August 1 transaction.

Q2. On January 1, 2019, Frederick Corporation had 200,000 shares of common stock outstanding with a par value of $5 per share. On March 31, Frederick Corporation authorized a 10% stock dividend when the market value was $18 per share. Use this information to prepare the General Journal entry (without explanation) for March 31. If no entry is required then write "No Entry Required."

Q3. The following are selected accounts for the Wicomico Company after all Fiscal Year December 31, 2018, adjusting entries & closing entries have been posted. All balances are normal.

Account Amount

Common Stock, $10 par $260,000

Treasury Stock, at cost $16 per share 32,000

Dividends Payable 13,000

Paid in Capital in excess of par, Common Stock 52,000

Accounts Receivable 24,500

Retained Earnings 217,000

Bonds Payable 150,000

Preferred Stock, $100 par, 4% cumulative 100,000

Prepare only the Stockholder's Equity section of the Classified Balance Sheet for the year end. Be sure to use a good format, dollar signs and single underlines were required. There are a few extra lines in the formatted input answer form to allow for acceptable balance sheet format variations.

Reference no: EM132559310

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