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Student Name:
Class:
Debit Credit
300,000
300,000
1,500,000
General Journal
Retired
Instructor
Requirement 1:
Account
February 15, 2016
Problem 18-03
NATIONAL SUPPLY
Retired
McGraw-Hill/Irwin
February 17, 2017
Common stock
Paid-in capital - excess of par
Common stock
Shares Treasury
Retired Stock
5,600,000$ 6,000,000$
NATIONAL SUPPLY
Common stock, $1 par
Paid-in capital:
At January 1, 2016
Shareholders' Equity
6,000,000$
30,000,000
Given Data P18-03:
($ in millions)
At December 31, 2015
Partial Balance Sheet
NATIONAL SUPPLY
Shareholders' Equity
Common stock (6 million shares at $1 par)
Paid-in capital - excess of par
Student Name:
Class:
Requirement 1:
Debit Credit
84,000,000
300,000
300,000 «- Correct!
88,000,000
88,000,000 «- Correct!
Gain on appreciation of investment
Investment in Warner bonds
Problem 18-05
McGraw-Hill/Irwin
Instructor
Account
2016
November 1 - declaration date
General Journal
BRANCH-RICKIE CORPORATION
2017
March 1 - declaration date
November 1 - declaration date
November 15 - date of record
no entry
Cash dividends payable
Retained earnings
Retained earnings
Student Name:
Class:
Problem 18-05
McGraw-Hill/Irwin
Instructor
Additional Total
Common Paid-in Retained Shareholders'
Stock Capital Earnings Equity
105,000 630,000 970,000 1,705,000
Correct! Correct! Correct! Correct!
(1,600) (1,600)
55,000 (55,000)
($ in 000s)
For the Years Ended December 31, 2016, 2017 and 2018
Statement of Shareholders' Equity
BRANCH-RICKIE CORPORATION
Requirement 2:
3 for 2 split effected in the
form of a stock dividend
Jan. 1, 2016
Property dividends
0.80$ per share
1,600,000$
Given Data P18-05:
BRANCH-RICKIE CORPORATION
Accounts at December 31, 2015:
Cash dividend declared on common shares, 11/1/2016
Corporate bond fair value at March 1, 2017
Additional information:
Student Name:
Class:
Debit Credit
30,000,000 «- Correct!
5,000,000$
Part A, Requirement 2:
NICKLAUS CORPORATION
Preferred stock, $5 par, authorized 1,000,000 shares,
Shareholders' equity
Part A, Requirement 1:
Problem 18-12
McGraw-Hill/Irwin
Instructor
March 31, 2016
Balance Sheet-Shareholders' Equity Section
General Journal
Cash
January 2, 2016
Account
issued and outstanding 1,000,000 shares
Student Name:
Class:
Problem 18-12
McGraw-Hill/Irwin
Instructor
Debit Credit
5,000,000$
General Journal
September 30, 2016
Balance Sheet-Shareholders' Equity Section
NICKLAUS CORPORATION
June 30, 2016
Account
Part B, Requirement 1:
Part B, Requirement 2:
issued and outstanding 1,000,000 shares
Preferred stock, $5 par, authorized 1,000,000 shares,
NICKLAUS CORPORATION
Shareholders' equity
Student Name:
Class:
Problem 18-12
McGraw-Hill/Irwin
Instructor
Debit Credit
290,000
General Journal
NICKLAUS CORPORATION
Part C, Requirement 1:
Account
October 1, 2016
November 1, 2016
November 15, 2016
December 1, 2016
No entry
No Entry
Dividends payable - common
Shareholders' equity
Part C, Requirement 2:
Preferred stock, $5 par, authorized 1,000,000 shares,
December 31, 2016
Balance Sheet-Shareholders' Equity Section
NICKLAUS CORPORATION
Student Name:
Class:
Problem 18-12
McGraw-Hill/Irwin
Instructor
Additional Total
Preferred Common Paid-in Retained Treasury Shareholders'
Stock Stock Capital Earnings Stock Equity
5,000 15,000 20,000
3,000 27,000 30,000
NICKLAUS CORPORATION
($ in 000s)
For the Year Ended December 31, 2016
Statement of Shareholders' Equity
Issuance of preferred stock
Issuance of common stock
January 2, 2016
Part C, Requirement 3:
200,000 shares
12.00$
50,000 shares
Given Data P18-12:
NICKLAUS CORPORATION
Part B
Part A
Stock reacquired, 6/30/2016
Treasury stock cost per share
Treasury stock reissued, 7/31/2016
Student Name:
Class:
Debit Credit
105
240
240 «- Correct!
20$
Correct!
240$
Problem 18-13
McGraw-Hill/Irwin
Instructor
Requirement 1:
To eliminate remainder of deficit
Retained Earnings
Account
To revalue assets:
($ in 000s)
General Journal
CHAMPION CHEMICAL CORPORATION
against common stock:
Common stock
Retained earnings
Requirement 2:
ASSETS
($ in millions)
At January 1, 2017
Balance Sheet
CHAMPION CHEMICAL CORPORATION
Current Assets:
Cash
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Stockholders' Equity:
$20
Given Data P18-13:
($ in millions)
At December 31, 2016
Balance Sheet
CHAMPION CHEMICAL CORPORATION
($ in millions)
CHAMPION CHEMICAL CORPORATION
Cash
