Business, 11.12.2019 21:31 Vampfox

Tandy company was issued a charter by the state of indiana on january 15 of this year. the charter authorized the following: common stock, $10 par value, 103,000 shares authorized preferred stock, 9 percent, par value $8 per share, 4,000 shares authorized during the year, the following transactions took place in the order presented:

a. sold and issued 20,000 shares of common stock at $16 cash per share.
b. sold and issued 3,000 shares of preferred stock at $20 cash per share.
c. at the end of the year, the accounts showed net income of $60,000. no dividends were declared.

required: 1. prepare the stockholders' equity section of the balance sheet at the end of the year.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 19:30

Which of the following is an example of the use of fiscal policy by the u.s. government? a. congress makes it illegal for the police union to go on strike. b. the federal reserve bank lowers the interest rate on loans to corporations. c. the department of transportation increases spending on highway repairs. d. the supreme court rules that unions have the right to collective bargaining. 2b2t

Answers: 1

Answer

Business, 21.06.2019 22:20

On january 1, jackson, inc.'s work-process inventory account showed a balance of $ 66,500. during the year, materials requisitioned for use in production amounted to $ 70,500, of which $ 67,700 represented direct materials. factory wages for the period were $ 210,000 of which $ 187,000 were for direct labor. manufacturing overhead is allocated on the basis of 60% of direct labor cost. actual overhead was $ 116,050. jobs costing $ 353,060 were completed during the year. the december 31 balance in work-process inventory is

Answers: 1

Answer

Business, 22.06.2019 04:10

You are head of the schwartz family endowment for the arts. you have decided to fund an arts school in the san francisco bay area in perpetuity. every 5 years, you will give the school $ 1 comma 000 comma 000. the first payment will occur 5 years from today. if the interest rate is 5.9 % per year, what is the present value of your gift?

Answers: 1

Answer

Business, 22.06.2019 04:40

Who has summer school : ( because i do : (

Answers: 1

Answer

You know the right answer?

Tandy company was issued a charter by the state of indiana on january 15 of this year. the charter a...

Questions