Accounting Stockholders Equity Accounts Homework Help
Best UK USA UAE Australia Canada China Accounting Stockholders Equity Accounts Homework Help Service Online
The ledger of Nakona Corporation at December 31, 2011, after the books have been closed, contains the following stockholders’ equity accounts.
|Preferred Stock (10,000 shares issued)||$1,000,000|
|Common Stock (400,000 shares issued)||2,000,000|
|Paid-in Capital in Excess of Par Value—Preferred||200,000|
|Paid-in Capital in Excess of Stated Value—Common||1,100,000|
|Common Stock Dividends Distributable||200,000|
A review of the accounting records reveals the following.
1. No errors have been made in recording 2011 transactions or in preparing the closing entry for net income.
2. Preferred stock is 8%, $100 par value, noncumulative, and callable at $125. Since January 1, 2010, 10,000 shares have been outstanding; 20,000 shares are authorized.
3. Common stock is no-par with a stated value of $5 per share; 600,000 shares are authorized.
4. The January 1 balance in Retained Earnings was $2,450,000.
5. On October 1, 100,000 shares of common stock were sold for cash at $8 per share.
6. A cash dividend of $600,000 was declared and properly allocated to preferred and common stock on November 1. No dividends were paid to preferred stockholders in 2010.
7. On December 31, a 10% common stock dividend was declared out of retained earnings on common stock when the market price per share was $7.
8. Net income for the year was $795,000.
9. On December 31, 2011, the directors authorized disclosure of a $100,000 restriction of retained earnings for plant expansion. (Use Note A.)
How it Works?
How it Works?
Step 1:- Want to buy solution for this. Please click on submit your assignment here and then fill all details and please mentioned product code at the end of the case. Product code is extremely important to locate your assignment. You can also mail us by keeping product code as mail subject to email@example.com
Step 2:- As soon as we received your details, we will inform you with through email about quotations of the given assignment. Requesting you to please mention your budget. Also ensure our email firstname.lastname@example.org should not go into your spam folder.
Step 3:- Once you agree with our price, click on pay now and pay the agreed amount and once we received the payment assignment will be delivered before agreed deadline.
Step 4:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.
Our Features for Assignment Help Services
Plagiarism Free Solution
The first and foremost things that we promise to our customer is plagiarism free solution i.e. a complete and unique solution as per customer’s university requirements.
Excellent Customer Care Services
You can feel our responsiveness once you use our service. Our team of excellent and dedicated customer service representatives are always ready to provide best customer care service 24X7 . Just drop a mail to email@example.com and you can receive response in just no time.
Multiple Stage Quality Assurance
We design a unique multiple stage quality assurance team to ensure plagiarism free, original, relevant and as per customer’s requirements. We not only give importance to accurate solutions or writing but also we give equal importance to references style too.
Privacy and Confidentiality
We believe in maintaining complete privacy and confidentiality of all our clients. None of the information furnished to us is shared with anyone else.
We receive requests from clients all over the World. Most of our customers are from USA, UK, Australia, Canada, UAE, Muscat, Oman, Qatar, UAE, New-Zealand, France Germany etc.
- Accounting Homework Help
- Accounting Assignment Help
- Computer Science Homework Help
- Management Homework Help
- Finance Assignment Help
- Online Essay Writing Help
- Strategic management case study help
- Case Study Assignment Help
- Dissertation Writing Help
- Trade finance case study help
- Project Management Assignment Help
- Mechanical Engineering Homework Help
- Online Quiz Help
- Maths homework Help
- Online Exam Help
- Economics Assignment Help
- Economics Homework Help
- English Homework Help
- Macroeconomics Homework Help
- Microeconomics Homework Help
- Statistics Assignment Help
- Australia Taxation Homework Help
- Supply chain management homework help
- Taxation homework help
- USA taxation assignment help
- Advanced accounting homework help online
- Auditing homework writing help
- Human resource management homework help
- Nursing homework help online
- Psychology homework help online
- Sociology homework help online
- Ratio analysis homework help online
- Strategic Management Homework Help Online
- Mba operations management homework help
- Human resource management homework help
- Operations management homework help
(a) Reproduce the Retained Earnings account (T account) for the year.
(b) Prepare a retained earnings statement for the year.
(c) Prepare a stockholders’ equity section at December 31.
(d) Compute the earnings per share of common stock using 325,000 as the weighted-average shares outstanding for the year.
(e) Compute the allocation of the cash dividend to preferred and common stock.
Product Code: ACC290
Looking for Accounting Stockholders Equity Accounts Homework Help , please submit your details here with product code mentioned above.