[Key code here]
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1., 2.
Jan. 1 Bal. Jan. 1 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
Jan. 1 Bal. Dec. 31 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
Jan. 1 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
2.
Jan. 22
Apr. 10
June 6
July 5
Aug. 15
Stock Dividends
Common Stock
Paid-In Capital in Excess of Stated Value
Cash Dividends
Score:
0%
Key Code:
Problem 13-4A
Name:
Section:
Instructions
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Retained Earnings
Treasury Stock
Paid-In Capital from Sale of Treasury Stock
Stock Dividends Distributable
Nov. 23
Dec. 28
31
31
3.
Retained earnings (January 1, 2014)
Net income
Less: Cash dividends
Stock dividends
Increase in retained earnings
Retained earnings (December 31, 2014)
4.
Paid-in capital:
Common stock, $20 stated value
(500,000 shares authorized, 468,000 shares issued)
Excess of issue price over stated value
Total paid-in capital
Retained earnings
Total
Deduct treasury stock (30,000 shares at cost)
Total stockholders’ equity
MORROW ENTERPRISES INC.
MORROW ENTERPRISES INC.
For the Period Ended December 31, 2014
Retained Earnings Statement
December 31, 2014
Stockholders’ Equity
Balance Sheet
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Enter a zero for the final balance if appropriate.
1., 2.
Stock Dividends
Cash
Jan. 1 Bal. 7,500,000 Jan. 1 Bal. 450,000 June 6 450,000
Apr. 10 1,500,000 Nov. 23 570,000
2.
Jan. 22 28,000
46,800
Cash Dividends Payable
Cash
Problem 13-4A
Name:
Section:
Solution
Treasury Stock
Score:
ON
Instructions
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Common Stock
MORROW ENTERPRISES INC.
3.
Retained earnings (January 1, 2014) 33,600,000$
Net income 1,125,000$
MORROW ENTERPRISES INC.
Retained Earnings Statement
For the Period Ended December 31, 2014