Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. global marine obtained a charter from the state in

Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of...

80.2K

Verified Solution

Question

Accounting

image
image
Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $370,000 of net income and declared no dividends; the following selected transactions occurred in the order given: a. Issued 110,000 shares of the common stock at $52 cash per share. b. Reacquired 22,000 shares at $47 cash per share. c. Reissued 8,500 shares from treasury for $48 per share. d. Reissued 8,500 shares from treasury for $46 per share. 3. Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The length of a rectangle is two more than the width. If the widthcrepresented by...

Algebra
Q

8) Joe Taxpayer has AGI of $100,000 in 2018 for the following a. He has doctor costs...

Finance
Q

Do you believe managers should focus directly on the stock's actual market price or its intrinsic...

Finance
Q

Choose any instinctive behavior you wish and describe that behavior using terms from classic ethology: fixed...

Biology
Q

Q3: When a mild steel rod was tested under tension, it was observed that a load...

Civil Engineering
Q

3. Describe step-by-step brittle fracture of some metals and ceramics with poor ductility and toughness. In...

Mechanical Engineering
Q

3 In what way is cultural competency important in person centered planning O It aligns...

Biology
Q

Kinase enzymes always inhibit target molecule activity add phosphate groups O bind tightly by wrapping...

Biology
Q

Find f 30 6 mi miles 60 4 Write your answer in simplest radical form

Geometry
Q

Solve for t, 0 < t < 2?.27 sin(t) cos(t) = -9 cos(t)I

Basic Math
Q

just need these posted to adjust trial balance, only infomation given is in pictures...

Accounting
Q

El rango de actividad para el cual las estimaciones y predicciones probablemente sean precisas es...

Accounting