1. 4.
2. 5.
3.
3. 6. 9.
PCP
Contributed capital:
E2A. Stockholders’ Equity
Hastings Corporation
Balance Sheet
December 31, 2014
Stockholders’ Equity
A
D
A
A
D
E1A. Advantages and Disadvantages of a Corporation
Exercises: Set A
13-9
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Total
Per Per Dividends
Amount Share Amount Share Allocated
—— — — —
Dividends
2011
2012
2011 dividends in arrears
E4A. Cash Dividends with Dividends in Arrears
Preferred Stock Common Stock
Dividends
13-10
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Preferred Common
Stock Stock
Dividends Dividends Total
2.
E5A. Cash Dividends on Preferred and Common Stock
2012 dividends
13-11
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1.
2.
—
Contributed capital:
Stockholders’ Equity
Balance Sheet
Retained earnings
Gormanus Corporation
E6A. Stock Entries Using T Accounts; Stockholders’ Equity
Preferred StockCash
March 1, 2014
13-12
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1. 2014
2. 2014
3. 2014
a fair market value of $1,200,000
value common stock for a building
with a fair market value of $1,200,000
Issued 40,000 shares of $4 stated
E8A. Issuance of Stock for Noncash Assets
Issued 5,000 shares of $1 stated value
common stock for $25 per share
E7A. Issuance of Stock
Issued 40,000 shares of no-par
common stock for a building with
13-13
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1
2
3
Bal. —
1
2
3
4
10
Retained Earnings
$28,000 – $12,000 – $4,800 = $11,200
250 shares × $80 = $20,000
250 shares × $70 = $17,500
800 shares × $20 = $16,000
Paid-in Capital, Treasury Stock
Cash Treasury Stock, Common
E10A. Treasury Stock Transactions Including Retirement
E9A. Treasury Stock Transactions
Cash Treasury Stock, Common
13-14
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June 5
July 17
31
Aug. 10
Sept. 1
shares declared on July 17
Common Stock Distributable
Common Stock
Dividends
6,000
33,000
6,000
Declaration of a 6,000-share stock
No entry required.
E13A. Journal Entries: Stock Dividends
24,000
6,000
30,000Stock Dividends
Common Stock Distributable
Additional Paid-in Capital
Cash
E11A. Cash Dividends
Dividends Payable
E12A. Cash Dividends
17,500
Dividends
Dividends
Cash Dividends Payable
Note: No entry necessary for November 1.
13-15
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Common stock, $1 par value, 250,000 shares authorized,
E14A. Stock Split
Before Stock Split
Charles Corporation
Stockholders’ Equity
May 15, 2014
Contributed capital:
13-16
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