During the year, the following transactions occurred.
Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1.
Mar. 1 Paid the dividend declared in February.
Apr. 1 Announced a 4-for-1 stock split. Prior to the split, the market price per share was $36.
July 1 Declared a 5% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $13 per share.
July 31 Issued the shares for the stock dividend.
Dec. 1 Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2009.
Dec. 31 Determined that net income for the year was $350,000.
Accounting 27 – Principles of Accounting II::
File Format: PDF/Adobe Acrobat - View as HTMLPrepare the stockholders’ equity section of a corporation balance sheet. •. Account for cash dividends. •. Use different stock values in decision making
http://www.furman.edu/conted/Acc27 Syllabus Spring 2008.pdfHOME |
Instructions
Prepare the stockholders' equity section of the balance sheet at: a) March 31, b) June 30, (c) September 30, and (d) December 31, 2008.
March 31, 2008
PATTINI CORPORATION
Partial Balance Sheet
March 31, 2008
Stockholders' equity
Paid-in capital
Capital stock
Common stock, no-par value,
shares issued and outstanding $
Retained earnings
Total stockholders' equity $
June 30, 2008
PATTINI CORPORATION
Partial Balance Sheet
June 30, 2008
Stockholders' equity
Paid-in capital
Capital stock
Common stock, no-par value,
shares issued and outstanding $
Retained earnings
Total stockholders' equity $
September 30, 2008
PATTINI CORPORATION
Partial Balance Sheet
September 30, 2008
Stockholders' equity
Paid-in capital
Capital stock
Common stock, no-par value,
shares issued and outstanding $
Retained earnings
Total stockholders' equity $
December 31, 2008
PATTINI CORPORATION
Partial Balance Sheet
December 31, 2008
Stockholders' equity
Paid-in capital
Capital stock
Common stock, no-par value,
shares issued and outstanding $
Retained earnings
Total stockholders' equity $
 Red Hat's Rough Recovery From CFO Exit
 Windows Live Finds a New, Pre-installed Home
|
HOME