eezt.mheducation.com/hmtpx Saa & E 10. 100 poits Exercise 10-12 Prepare a statem
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eezt.mheducation.com/hmtpx Saa & E 10. 100 poits Exercise 10-12 Prepare a statement of stockholders' equity (L010-7) Power Drve Corporaion desgre and produces a Ine of gelf ecuipment ane gof apparel Power Drive has 100,00 shares ef comemon slock oulstanding a ofthe beginning of 2018. Power Dvea the folowing taneactone afecting stockholders equity in 2010 May 10 Ropurchases 5,300 shares of treasury stock for $53 per sharc Juy 1 Parys the cash clvidend ceclared on June 1 ctober 21 Reissues 2b aes al leasury slack purchhased arn May 10 ar 953 per state Pcraer 'rre Carparabon has theolkwing begnnng alances in ts sinckalders' equity accrunts on January 1, 218 Ccrmon Slck, $10o Asanal Pand-in Capral $4 H00 Prepaire the stateme of stocknoiders equity for Power Dive Corporation for the yeer ended December 31, 2018. (Amounts to be deducted should be indicted by a minus sign.) and Reared Eatringes 52 341 000 Net incme far the year eert December 31, 2019, 1s5531000 Statement of Stockhclders' Equity For the Year Encded Decomber 11, 2D18 Retained Common Stok Additional Paid.in Capitaltcktck 00.000 4800000 2300.000S 07 200,000 szued ccmmon sto:k Furchase treaaury stock Sale of tressury stock Nct incomc 00.000 4,800,000 2,300,000 07200,000 Hints References eBcok & Resources OAsk me anything ?@???? Js 0.33 PM | 20MaExplanation / Answer
POWER DRIVE CORPORATION BALANCE SHEET (Stockholders’ Equity Section) 31-Dec-18 Stockholders’ Equity Amount in $ Common Stock, $1 par value, shares issued-150,000 $150,000 Additional Paid-in capital $7,513,250 Retained Earnings $2,682,500 Treasury Stock -$261,450 Total Shareholders’ Equity $10,084,300 Break-up of each item: Particulars Amount in $ Common Stock Balance at beginning of the year $100,000 Stock issued during the year $50,000 Balance at end of the year $150,000 Additional Paid-in capital Balance at beginning of the year $4,800,000 Stock issued during the year (50000*$54) $2,700,000 Reissue of treasury stock in excess of cost ($68-$63)2650 $13,250 Balance at end of the year $7,513,250 Retained Earnings Balance at beginning of the year $2,300,000 Net Income during the year $630,000 Dividends(per share - $1.65) (150000*1.65) -$247,500 Balance at end of the year $2,682,500 Treasury Stock Balance at beginning of the year NIL Repurchases (6300*$68) -$428,400 Reissue (2650*$63) $166,950 Balance at end of the year -$261,450
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