Facebook Alexander Corporation R × \\O De repente nos 30. Os m e Chegg Study Gui

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Facebook Alexander Corporation R × O De repente nos 30. Os m e Chegg Study Guided Sr x / Connect × X x ? ? C Secure https://new connect mheducation.com flow connect.htmPisRegztrue8 returnUr?https%3A%2F%2Fconnect.mheducation.com%2Fpaamweb%2Findex.htm %23%2? ? Ch 11 GL-P 11-2a-Optional See Instructor Help Save & Exit Submit Seved Check my work GL1101 - Based on Problem 11-2A LO C3, P2, P3 Vancouver Company reports the following components of stockholders' equity on December 31, 2016 15 points Common stock-$10 par value, 130,800 shares authorized, 50,800 shares issued and outstanding Paid-in capital in excess of Retained earnings Total stockholders' equity $588,68 eBook par value, common stock 75,080 410,080 $985,080 Ask Print Reterences In year 2017, the following transactions affected its stockholders' equity accounts. Jan 1 Purchased 5,880 shares of its own stock at $23 cash per share an 5 Directors declared a $2 per share cash dividend payable an February 28 to the Fobruary 5 stockholders of record Feb. 28 Paid the dividend declared July 6 Sold 1,900 of its treasury shares at $27 cash per share Aug. 22 Sold 3,100 of its treasury shares at $20 cash per share Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record Oct. 28 Paid the dividend declared on September 5 Dec 31 Closed the $291,880 credit balance (from net income) in the Income Summary account to Retained Earnings on January Mc Prev 1of 1 Next Hill A" ^??1:53 PM 4/29/2018

Explanation / Answer

Dividend paid on Feb. 28 = Shares outstanding on Feb. 5*$2 per share

= (50,000 shares-5,000 shares purchased)*$2 = $90,000

Shares Outstanding on Sept. 25

= Opening Shares - Treasury shares purchased on Jan. 1+Treasury shares sold on July 6 and Aug 22

= 50,000-5,000+1,900+3,100 = 50,000 shares

Total Cash dividend paid on Oct. 28 = Shares Outstanding on Sept. 25*$2 per share

= 50,000 shares*$2 per share = $100,000

Vancouver Corporation

Statement of Retained Earnings   

For Year Ended December 31, 2017 (Amounts in $)

Beginning Balance of Retained Earnings 410,000 Add: Net Income 291,000 Total Balance 701,000 Less: Dividends paid on Feb. 28 (90,000) Less: Dividends paid on Oct. 28 (100,000) Ending Balance of Retained Earnings 511,000

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