2. Peloton has the following stock outstanding. ■ Common Stock-$50,000 ($1 par, 150,000 shares authorized, 50,000 shares issued and outstanding) ■ Paid-in Capital in Excess of Par, Common Stock-$750,000 Preferred Stock-$60,000 (15%, $30 par, 10,000 shares authorized, 2,000 shares issued and outstanding) ■ Paid-in Capital in Excess of Par, Preferred Stock-$120,000 Given this information, if Peloton pays dividends totaling $50,000 during the year, and if the preferred stock is cumulative and the dividends on the preferred stock were TWO years in arrears as of the beginning of the year (i.e., Peloton did not pay any dividends to preferred stockholders last year or the year before), what is the amount of dividends that common stockholders will receive this year?
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- The balance sheet caption for common stock is the following: Common stock, $2 par value, 2,070,000 shares authorized, 1,310, 000 shares issued, 1,050,000 shares outstanding $? Required: a. Calculate the dollar amount that will be presented opposite this caption. b. Calculate the total amount of a cash dividend of $0.27 per share. c. What accounts for the difference between issued shares and outstanding shares? a. Amount b. Cash dividend c. Difference between issued shares and outstanding sharesThe balance sheet caption for common stock is: Common stock, $10 par value, 7,000,000 shares authorized, 5,700,000 shares issued, and 5,500,000 shares outstanding. a. Calculate the dollar amount that will be presented opposite of this caption. b. Calculate the total amount of a cash dividend of $1.00 per share.c. What accounts for the difference between issued shares and outstanding shares?1.000 shares of common stock with a par value of $5 is sold for $8. Which of the following is correct: A. Cash is debited for $5,000 B. Common Stock is debited for $5,000 C. Paid in Capital in Excess of Par is credited for $3,000 D. Common Stock is credited for $8,000
- 1. Land Common Stock(300,000x$1) Paid in Capital in excess of Par-common stock (to record the issue of share) 1,200,000 300,000 900,000 11. Cash(120,000 shares x$1 par value) Common Stock (to record the issue of Common Stock) 120,000 120,000 111. Cash(25,500.00 shares x$20 per share) Preferred Stock (to record the issue of preferred stock) 510,000 510,000 1V. Income Summary To Retained Earning 764,000 764,000 V. No transaction dividend has already been paid hence no record needed - - V1. No transaction Dividend has already been paid hence no record needed shift this data from these temporary accounts to reflect the retained earnings - -3. Please refer to the equity section of the balance sheet shown as follows: Preferred stock $100 par, 10,000 shares authorized, 1,000 shares issued $100,000 Common stock $1 par, 500,000 shares authorized, ? shares issued 20,000 Paid-in capital in excess of par -common stock 350,000 Retained earnings (74,000)Total stockholders' equity $396,000 The amount shown for Retained earnings would be called a(n):A) net loss.B) earnings shortfall.C) retained earnings deficit.D) loss on sale of stock. 4. Based on the info above, determine the number of common stock issued. 5. Based on the info above determine the issue/market price for the…Which of the following would be included in the entry to record the issuance of 7,000 shares of $4 par value common stock at $27 per share? Cash would be debited for $28,000. Common stock would be debited for $28,000. Common stock would be credited for $189,000. Paid in capital in excess of par-common would be credited for $161,000.
- Please refer to the equity section of the balance sheet shown as follows: Preferred stock $100 par, 10,000 shares authorized, 1,000 shares issued $100,000 Common stock $1 par, 500,000 shares authorized, ? shares issued 20,000 Paid-in capital in excess of par -common stock 350,000 Retained earnings (74,000) Total stockholders' equity $396,000 The amount shown for Retained earnings would be called a(n): net loss. earnings shortfall. retained earnings deficit. loss on sale of stock. 1. Based on the info above, determine the number of common stock issued. 2. Based on the info above determine the issue/market price for the common stock.The stockholders' equity section of Sheffield Corporation consists of common stock ($10 par) $2,000,000 and retained earnings $519,000. A 10% stock dividend (20,000 shares) is declared when the market price per share is $15. Show the before-and-after effects of the dividend on the following. (a) (b) (c) The components of stockholders' equity. Shares outstanding. Par value per share. Stockholders' equity $ Outstanding shares Par value per share LA $ Before Dividend $ LA LA After Dividendion Shown below is information relating to the stockholders' equity of Ozone Corporation at June 30, 2023. $400,000 6% cumulative preferred stock, $100 par, 50,000 shares authorized Common stock, $4.55 par, 40,000 shares authorized; 30,800 shares issued and outstanding Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained earnings What is total paid-in capital? Select one: O a. $2,160,000. O b. $540,000. O c. $2,040,000. O d. $660,000. $140,000 $100,000 $1,400,000 $120,000
- Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. 50,000 shares of common stock authorized, and 1,000 shares have been reacquired. Common Stock, $60 par $2,100,000 Paid-In Capital from Sale of Treasury Stock 126,000 Paid-In Capital in Excess of Par-Common Stock 455,000 Retained Earnings 987,000 Treasury Stock 77,000 Stockholders' Equity Paid-in capital: Total Paid-In Capital Total Stockholders' EquityUsing the following information, prepare the Stockholders’ equity section of the balance sheet. 70,000 shares of common stock are authorized and 7,000 shares have been reacquired. Common Stock, $75 parPaid-In Capital in Excess of ParPaid-In Capital from Sale of Treasury Stock Retained EarningsTreasury Stock $4,725,000 679,000 25,200 2,032,800 600,000Below is some select information from a company's balance sheet. $140,000 Preferred Stock (10,000 shares authorized), $100 par Paid-in Capital in Excess of Par - Preferred Stock Common Stock (100,000 shares authorized), $10 par 35,000 410,000 62,000 Paid-in Capital in Excess of Par - Common Stock Paid-in Capital from Sale of Treasury Stock Treasury Stock (1,500 shares) Retained Earnings 41,500 34,500 63,800 What is the total stockholders' equity based on the information above?