please no handwritten thanks esa. Sold 78,900 shares of common stock at $32 cash per share.b. Sold 20,800 shares of preferred stock at $67 cash per share.c. Bought 5,000 shares of common stock from a current stockholder for $21 cash per share.Required:Net income for the year was $91,400; cash dividends declared and paid at year-end were $30,400.Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to bededucted should be indicated with a minus sign.)Stockholders' equity:Contributed capital:QUICK FIX-IT CORPORATIONBalance Sheet (Partial)At December 31, This yearTotal contributed capitalTotal contributed capital and retained earningsTotal stockholders' equity Quick Fix-It Corporation was organized at the beginning of this year to operate several car repairbusinesses in a large metropolitan area. The charter issued by the state authorized the following stock:Common stock, $16 par value, 99,900 shares authorizedPreferred stock, $47 par value, 8 percent, 60,200 shares authorizedDuring January and February of this year, the following stock transactions were completed:a. Sold 78,900 shares of common stock at $32 cash per share.b. Sold 20,800 shares of preferred stock at $67 cash per share.c. Bought 5,000 shares of common stock from a current stockholder for $21 cash per share.Required:Net income for the year was $91,400; cash dividends declared and paid at year-end were $30,400.Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to bededucted should be indicated with a minus sign.)Stockholders' equity:Contributed capital:QUICK FIX-IT CORPORATIONBalance Sheet (Partial)At December 31, This year

The shareholders' equity section is the part of balance sheet of the business. The stockholders'…

a. Sold 78,900 shares of common stock at $32 cash per share. b. Sold 20,800 shares of preferred stock at $67 cash per share. c. Bought 5,000 shares of common stock from a current stockholder for $21 cash per share. Required: Net income for the year was $91,400; cash dividends declared and paid at year-end were $30,400. Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to be deducted should be indicated with a minus sign.) QUICK FIX-IT CORPORATION Balance Sheet (Partial)

a. Sold 78,900 shares of common stock at $32 cash per share. b. Sold 20,800 shares of preferred stock at $67 cash per share. c. Bought 5,000 shares of common stock from a current stockholder for $21 cash per share. Required: Net income for the year was $91,400; cash dividends declared and paid at year-end were $30,400. Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to be deducted should be indicated with a minus sign.) QUICK FIX-IT CORPORATION Balance Sheet (Partial)

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 3PA: The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the...

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Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, par value $17 per share, 13,400 shares authorized. During e year, the following selected transactions were completed: Sold and Issued 6,800 shares of common stock for cash at $34 per share. b. Sold and Issued 1700 shares of common stock for cash at $39 per share 12. Required information Required: 1. Prepare the journal entries required to record the sale of common stock in (a) and (b). (If no entry ls required for a transaction/event, select "No Journal entry required In the first account field.) view transaction list view general journal Journal Entry Worksheet 0 2 sold 6,800 shares of common stock for cash at $34 per share Debit Credit Transaction General Jouma
Quick Fix-It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area. The charter issued by the state authorized the following stock: Common stock, $19 par value, 98,300 shares authorized Preferred stock, $45 par value, 8 percent, 60,400 shares authorized During January and February of this year, the following stock transactions were completed: Sold 78,800 shares of common stock at $38 cash per share. Sold 20,100 shares of preferred stock at $75 cash per share. Repurchased 4,000 shares of common stock for $20 cash per share. Required: Net income for the year was $90,600; cash dividends declared and paid at year-end were $30,200. Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated with a minus sign. QUICK FIX-IT CORPORATION Balance Sheet (Partial) At December 31 Stockholders’ equity: Contributed capital:…
Quick Fix-It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area. The charter issued by the state authorized the following stock: Common stock, $20 par value, 98,100 shares authorized Preferred stock, $47 par value, 8 percent, 60,500 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 78,700 shares of common stock at $40 cash per share. b. Sold 20,000 shares of preferred stock at $77 cash per share. c. Repurchased 4,900 shares of common stock for $24 cash per share. Required: Net income for the year was $90,600; cash dividends declared and paid at year-end were $30,900. Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated with a minus sign. Stockholders' equity: Contributed capital: QUICK FIX-IT CORPORATION Balance Sheet (Partial) At December 31
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