Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value common. The following transactions affect stockholders’ equity during 2021, its first year of operations: anuary 2 Issue 110,000 shares of common stock for $70 per share. February 14 Issue 60,000 shares of preferred stock for $12 per share. May 8 Repurchase 11,000 shares of its own common stock for $60 per share. May 31 Reissue 5,500 shares of treasury stock for $65 per share. December 1 Declare a cash dividend on its common stock of $0.25 per share and a $36,000 (6% of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December
Record each of these transactions
part 2.
Prepare the stockholders’ equity section of the balance sheet as of December 31, 2021. Net income for the year was $490,000.
Answers: 1
Business, 21.06.2019 21:30
What is the eventual effect on real gdp if the government increases its purchases of goods and services by $80,000? assume the marginal propensity to consume (mpc) is 0.75. $ what is the eventual effect on real gdp if the government, instead of changing its spending, increases transfers by $80,000? assume the mpc has not changed. $ an increase in government transfers or taxes, as opposed to an increase in government purchases of goods and services, will result in an identical eventual effect on real gdp. a smaller eventual effect on real gdp. a larger eventual effect on real gdp. no change to real gdp.
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Business, 22.06.2019 14:50
Prepare beneish corporation's income statement and statement of stockholders' equity for year-end december 31, and its balance sheet as of december 31. there were no stock issuances or repurchases during the year. (do not use negative signs with your answers unless otherwise noted.)
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Business, 22.06.2019 16:00
In microeconomics, the point at which supply and demand meet is called the blank price
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Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value co...
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