Andy 41514221
New member
...31, 2010? Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2010, 200 shares of preferred stock and 3,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2010:
March 1 Issue 1,000 shares of common stock for $32 per share.
May 15 Repurchase 600 shares of treasury stock for $25 per share.
July 10 Reissue 100 shares of treasury stock purchased on May 15 for $30 per share.
October 15 Issue 100 shares of preferred stock for $35 per share.
December 1 Declare a cash dividend on both common and preferred stock of $0.75 per share to all stockholders of record on December 15. Hint: Dividends are not paid on treasury stock.
December 31 Pay the cash dividends declared on December 1.
Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2010: preferred stock, $200; common stock, $30; additional paid-in capital, $66,000; and retained earnings, $25,500. Net income for the year ended December 31, 2010, is $9,800.
Taking into consideration all the transactions during 2010, respond to the following for Donnie Hilfiger:
how to prepare the stockholders' equity section of the balance sheet as of December 31, 2010?
format:
preferred stock
common stock
additional paid in capital
total paid in capital
retained earnings
treasury stock
total stockholder's equity
PLEASE HELP!!!!!!
March 1 Issue 1,000 shares of common stock for $32 per share.
May 15 Repurchase 600 shares of treasury stock for $25 per share.
July 10 Reissue 100 shares of treasury stock purchased on May 15 for $30 per share.
October 15 Issue 100 shares of preferred stock for $35 per share.
December 1 Declare a cash dividend on both common and preferred stock of $0.75 per share to all stockholders of record on December 15. Hint: Dividends are not paid on treasury stock.
December 31 Pay the cash dividends declared on December 1.
Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2010: preferred stock, $200; common stock, $30; additional paid-in capital, $66,000; and retained earnings, $25,500. Net income for the year ended December 31, 2010, is $9,800.
Taking into consideration all the transactions during 2010, respond to the following for Donnie Hilfiger:
how to prepare the stockholders' equity section of the balance sheet as of December 31, 2010?
format:
preferred stock
common stock
additional paid in capital
total paid in capital
retained earnings
treasury stock
total stockholder's equity
PLEASE HELP!!!!!!