- - - - Statement of Changes of Owners' Equity During the year 2019 the...
80.2K
Verified Solution
Link Copied!
Question
Accounting
- - - - Statement of Changes of Owners' Equity During the year 2019 the following events occurred: 1 80,000 shares of $5.50 Par common Stock was issued for $3,000,000 during the year. 2 40,000 shares of treasury stock for $450,000 was purchased. 3 There was a gain on sale of investments of $210,000. 4 In 2018, Terry forgot to record $325,000 of depreciation (Ignore income taxes). 5 Loss from lawsuit during the year of $80,000. 6 During the year, net income of ($500,000) was recorded. 7 Common stock cash dividends of $140,000 were declared and paid. 8 Preferred stock cash dividends of $310,000 were declared but not yet paid 9 There was an unrealized gain on debt available-for sale securities of $150,000. The tax rate is 15%. 10 2,000 shares of preferred stock were issued at 120 (par = $100) 11 A $500,000 impairment was made for discontinued operations. The tax rate is 15%. Exclude Acumulated Common Additonal Preferred Stock Additional Comprehen. Retained Stock (Par $5.5) PIC-C/S (Par $100) PIC/PS Income Earnings 400,000 1,500,000 300,000 150,000 2,000,000 $10,355,000 Treasury Total Stock ($300,000) $14,405,000 Beginning Balances 600 vu WNA 10 Ending Balances
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!
