Student Name:
Class:
Date Account Debit Credit
(Declare cash dividends)
(Pay cash dividends)
Cash
December 1, 2021
Dividends
Dividends Payable
December 31, 2021
Dividends Payable
46,200
11
46,189 <–Correct!
9,000
200
8,800 <–Correct!
Total
Total Total Stockholders’
Assets Liabilities Equity
Pay cash dividends
Declare cash dividends
Issue preferred stock
Resell treasury stock
Purchase treasury stock
+NE +
Issue common stock
Transaction
(Issue preferred stock)
Requirement 2:
Additional Paid-in Capital
McGraw-Hill/Irwin
Instructor
October 15, 2021
Additional Paid-in Capital
Requirement 1:
Problem 10-02
Common Stock
DONNIE HILFIGER
March 1, 2021
Cash
Preferred Stock
Cash
(Issue common stock)
(Purchase treasury stock)
May 15, 2021
Treasury Stock
Cash
July 10, 2021
Cash
Treasury Stock
Additional Paid-in Capital
(Reissue treasury stock above cost)
1.00$
300
March 1
Common dividend per share
Declared cash dividend:
Preferred dividend per share
Number of shares
Price per share
Reissue treasure stock purchased May 15:
Number of shares
Paid cash dividend declared 12/1
Price per share
Issued preferred stock:
Shares issued
Price per share
1,100
42.00$
May 15
300$
Issued common stock:
Shares issued
Price per share
Repurchase treasure stock:
DONNIE HILFIGER
Given Data P10-02:
Par value of common stock
Outstanding common shares at 1/1/2021
Interest payable June 30 and December 31
Student Name:
Class:
Correct!
Additional Total
Preferred Common Paid-in Retained Treasury Stockholders’
Stock Stock Capital Earnings Stock Equity
300$ 40$ 76,000$ 30,500$ –$ 106,840$
Balance, January 1
Requirement 2:
Problem 10-05
McGraw-Hill/Irwin
Instructor
DONNIE HILFIGER
For the Year Ended December 31, 2021
Statement of Stockholders’ Equity
DONNIE HILFIGER
December 31, 2021
(Stockholders’ Equity Section)
Balance Sheet
Stockholders’ Equity:
Requirement 1:
1.00$
March 1
Price per share
Declared cash dividend:
Preferred dividend per share
Reissue treasure stock purchased May 15:
Number of shares
Price per share
Issued preferred stock:
Shares issued
Common dividend per share
Paid cash dividend declared 12/1
Number of shares
Price per share
1,100
42.00$
May 15
300$
Issued common stock:
Shares issued
Price per share
Repurchase treasure stock:
DONNIE HILFIGER
Given Data P10-05:
Par value of common stock
Outstanding common shares at 1/1/2021
Interest payable June 30 and December 31
Outstanding preferred shares at 1/1/2021
Student Name:
Class:
Date Account Debit Credit
(Declare cash dividends)
Cash
(Pay cash dividends)
Dividends Payable
December 30, 2021
Dividends Payable
December 1, 2021
Dividends
7,700,000
110,000
7,590,000 <–Correct!
357,500
330,000
27,500 <–Correct!
Requirement 2:
Treasury stock, 5,500 shares
Common Stock, $1 par value
Additional paid-in capital
Total paid-in capital
Retained Earnings
600,000$
Instructor
(Resell treasury stock above cost)
Problem 10-06
MAJOR LEAGUE APPAREL
January 2, 2021
Cash
Common Stock
Additional Paid-in Capital
McGraw-Hill/Irwin
(Issue common stock above par)
Requirement 1:
MAJOR LEAGUE APPAREL
Balance Sheet
(Stockholders’ Equity Section)
Additional Paid-in Capital
December 31, 2021
May 31, 2021
Cash
Treasury Stock
Preferred stock, $10 par value
Stockholders’ Equity:
Preferred Stock
Cash
(Issue preferred stock above par)
(Purchase treasury stock)
February 14, 2021
Additional Paid-in Capital
May 8, 2021
Treasury Stock
Cash
110,000
70.00$
MAJOR LEAGUE APPAREL
Given Data P10-06:
Net income for year ending December 31, 2021
May 31
Resell share of treasury stock
Resell price per share
December 1
Declared 6% of par value cash dividend on preferred stock
Declared per share cash dividend on common stock
Repurchased shares of common stock
Repurchase price per share
December 30
Paid cash dividend declared on December 1
Additional Information:
Issued shares of preferred stock
Issue price per share
May 8