CHAPTER 13 Corporations: Organization, Stock Transactions, and Dividends
Ex. 13–25
a. OfficeMax:
b. Staples’ net income of $881,948,000 is much greater than OfficeMax’s net
=Earnings per Share
Net Income – Preferred Dividends
Avg. Number of Common Shares Outstanding
13-21
CHAPTER 13 Corporations: Organization, Stock Transactions, and Dividends
Prob. 13–1A
1.
Total Per Per
Dividends Total Share Total Share
2009…………
…
$ 18,000 $18,000 $0.45 $ 0 $0.00
PROBLEMS
Year
Preferred Dividends Common Dividends
13-22
…
…
…
…
…
CHAPTER 13 Corporations: Organization, Stock Transactions, and Dividends
Prob. 13–2A
11 Building 3,375,000
May
13-23
CHAPTER 13 Corporations: Organization, Stock Transactions, and Dividends
Prob. 13–3A
a. Cash (360,000 shares × $22) 7,920,000
Common Stock (360,000 shares × $12) 4,320,000
Paid-In Capital in Excess of Par—Common
13-24
CHAPTER 13 Corporations: Organization, Stock Transactions, and Dividends
Prob. 13–4A
1. and 2.
Jan. 1 Bal. 7,500,000
Apr. 10 1,500,000
Common Stock
13-25
CHAPTER 13 Corporations: Organization, Stock Transactions, and Dividends
Prob. 13–4A (Continued)
2.
Jan. 22 Cash Dividends Payable [(375,000 shares – 25,000 shares) × $0.08] 28,000
Cash 28,000
Apr. 10 Cash (75,000 shares × $24) 1,800,000
Common Stock (75,000 shares × $20) 1,500,000
CHAPTER 13 Corporations: Organization, Stock Transactions, and Dividends
Prob. 13–4A (Concluded)
3.
Retained earnings, January 1, 2014 $33,600,000
Net income $1,125,000
4.
Paid-in capital:
Common stock, $20 stated value (500,000 shares
authorized, 468,000 shares issued) $9,360,000
Stockholders’ Equity
MORROW ENTERPRISES INC.
Retained Earnings Statement
For the Year Ended December 31, 2014
13-27
CHAPTER 13 Corporations: Organization, Stock Transactions, and Dividends
Prob. 13–5A
Jan. 9 No entry required. The stockholders’ ledger would be revised to
record the increased number of shares held by each stockholder and new par value.
Feb. 28 Treasury Stock (40,000 shares × $28) 1,120,000
Cash 1,120,000
CHAPTER 13 Corporations: Organization, Stock Transactions, and Dividends
Prob. 13–1B
1.
Total Per Per
Dividends Total Share Total Share
2009…………
…
$ 24,000 $ 24,000 $ 0.96 $0 $0.00
Year
Preferred Dividends Common Dividends
13-29
…
…
…
…
…
CHAPTER 13 Corporations: Organization, Stock Transactions, and Dividends
Prob. 13–2B
9 Cash 1,500,000
Mortgage Note Payable 1,500,000
Oct.
13-30
CHAPTER 13 Corporations: Organization, Stock Transactions, and Dividends
Prob. 13–3B
a. Treasury Stock (87,500 shares × $8) 700,000
Cash 700,000
13-31