The stockholders'' equity section of benton corporation

Assignment Help Accounting Basics
Reference no: EM13267814

The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2014 is as follows:

Common stock, $5 par value; authorized, 1,900,000 shares; issued, 380,000 shares $1,900,000
Paid-in capital in excess of par 869,000
Retained earnings 3,010,000
$5,779,000

The following events occurred during 2015:

1. Jan. 5 32,000 shares of authorized and unissued common stock were sold for $7 per share.
2. Jan. 16 Declared a cash dividend of 20 cents per share, payable February 15 to stock-holders of record on February 5.
3. Feb. 10 40,000 shares of authorized and unissued common stock were sold for $12 per share.
4. March 1 A 30% stock dividend was declared and issued. Fair value per share is currently $15.
5. April 1 A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Fair value on March 31 was $18 per share.
6. July 1 A 15% stock dividend was declared and issued. Fair value is currently $10 per share.
7. Aug. 1 A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of record on August 21.

Reference no: EM13267814

Questions Cloud

What is the rate of change of the voltage on the capacitor : The switch in a RC circuit is closed. If the resistance is 134462ohms, the capacitance 7.5 microF, and the applied voltage 18 volts, what is the (average) rate of change of the voltage on the capacitor, to the nearest tenth of a V/s, during the fi..
Convert the binary number into a decimal number : Read the binary number from the user and store it into a C string (i.e. char[ ])  The c string shall be able to accommodate a 32 bit binary number, note each digit in the binary number is a character, and there must be a null character at the end ..
Calculate present value if the discount rate is 12 percent : Calculate present value if the discount rate is 12%? (Do not round intermediate calculations. Round your answers to 2 decimal places.)
Discuss the significance of the price : Decribe the information that should be disclosed in financial statements, or notes thereto, that are prepared when stock warrants are outstanding in the hands of three groups listed above.
The stockholders'' equity section of benton corporation : The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2014 is as follows:
Describe the principal-agent relationship : Describe the principal-agent relationship. In your answer, give an example of how a principal-agent problem arises in the corporate world. Can such a problem become costly? Please explain.
How did the leaders in the eight contexts challenge : How did the leaders in the eight contexts challenge, shape, and/or change history? What were their primary successes? In what ways did they fail?
How can this be solved on a financial calculator : The Easton manufacturing Company is looking to replace its conveyor belt system. A new system will cost $345,000, and will result in cost savings of $220,000 in the first year, followed by savings of $100,000 per year over the following 3 years.
Find the probability that a transmitted bit is received : A variant of the binary symmetric communication channel described in class is called a binary erasure channel. The transmitter sends a ‘0' or ‘1,' but at the receiver there are three possibilities: a ‘0' or ‘1' or ‘undecided bit..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the outstanding balance after partial payment

An invoice for 50000 dollar dated feb 22 has payment terms 4/5, 3/20, n/30. A partial payment of 27000 was made on mar 10 a. How much was credeted to the account b. Determine the outstanding balance after this partial payment.

  What are the ethical issues related to john ideas

John considers the problem and suggests to you that to generate positive cash flows, the company could sell some of its accounts receivable and liquidate much of its raw material. These actions would be detrimental to net income but would generate..

  Merchandise inventory items problem

A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $80; Second purchase $95; Third purchase $85. If the company sold two units for a total of $240 and used FIFO costing, the gros..

  Computational and record-keeping costs

If computational and record-keeping costs are regarding the same under both FIFO and weighted average, which of the following techniques will generally be preferred?

  Entry to eliminate subsidiary income and dividends

Under the partial equity method, the entry to eliminate subsidiary income and dividends includes a debit to

  Cash dividends paid by a corporation

Cash dividends paid by a corporation: a. reduces the net income of the corporation that declared the dividend. b. reduces the retained earnings of the corporation that declared the dividend.

  Declaration and issuance of the stock dividend

A company with 100,000 authorized shares of $4 par common stock issued 50,000 shares at $9. Subsequently, the company declared a 2% stock dividend on a date when the market price was $10 a share. The effect of the declaration and issuance of the s..

  Not-for-profit health care organization

Which of the following would be an appropriate performance indicator for a not-for-profit health care organization?

  Ethical dilemma in business

Describe in detail an ethical dilemma in business that you or a coworker experienced and how it was resolved.

  Unrelated business income tax

The local garden club, an exempt organization, had gross unrelated business income during the year of $15,000. Its costs associated with this income were $9,800. What is its unrelated business income tax?

  Disclosures in segmental reporting

Which of the following statements about required disclosures in segmental reporting is not true?

  What is the amount of interest expense recorded

what is the amount of interest expense recorded by Pirate, Inc. in the first year of the asset's life?

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!

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