Accounting – The Stockholders’ Equity Section Of Benton Corporation’S

The stockholders’ equity section of Benton Corporation’s balance sheet as of December 31, 2014 is as follows:.09px,=”” 12px=””>Stockholders’ EquityCommon stock, $5 par value, authorized, 1,700,000 shares, issued, 340,000 shares$1,700,000Paid-in capital in excess of par842,000Retained earnings2,950,000$5,492,000The following events occurred during 2015:.09px,=”” 12px=””>1.Jan. 529,000 shares of authorized and unissued common stock were sold for $7 per share.2.Jan. 16Declared a cash dividend of 20 cents per share, payable February 15 to stock-holders of record on February 5.3.Feb. 1040,000 shares of authorized and unissued common stock were sold for $11 per share.4.March 1A 30% stock dividend was declared and issued. Fair value per share is currently $16.5.April 1A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Fair value on March 31 was $18 per share.6.July 1A 15% stock dividend was declared and issued. Fair value is currently $10 per share.7.Aug. 1A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of record on August 21.Enter the above events into the following work sheet showing how each event affects the column. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any answer field b

Originally posted 2018-07-17 03:55:17. Republished by Blog Post Promoter

Accounting – The stockholders’ equity section of Benton Corporation’s

Question
The stockholders’ equity section of Benton Corporation’s balance sheet as of December 31, 2014 is as follows:

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Stockholders’ Equity
Common stock, $5 par value; authorized, 1,700,000 shares; issued, 340,000 shares $1,700,000
Paid-in capital in excess of par 842,000
Retained earnings 2,950,000
$5,492,000

The following events occurred during 2015:

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1. Jan. 5 29,000 shares of authorized and unissued common stock were sold for $7 per share.
2. Jan. 16 Declared a cash dividend of 20 cents per share, payable February 15 to stock-holders of record on February 5.
3. Feb. 10 40,000 shares of authorized and unissued common stock were sold for $11 per share.
4. March 1 A 30% stock dividend was declared and issued. Fair value per share is currently $16.
5. April 1 A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Fair value on March 31 was $18 per share.
6. July 1 A 15% stock dividend was declared and issued. Fair value is currently $10 per share.
7. Aug. 1 A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of record on August 21.

Enter the above events into the following work sheet showing how each event affects the column. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any answer field b