The following information was extracted from the records of TAC Corporation at the end of the fiscal year after all adjusting entries were completed: Common stock ($20 par value; 100,000 shares authorized, 34,000 shares issued, 32,000 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the beginning of the year Treasury stock at cost (2,000 shares) Net income Current stock price $ 680,000 163,000 16,000 75,000 (25,000) $ 30,000 $ 22.29 Required 1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. Note: Amounts to be deducted should be indicated by a minus sign. Stockholders' equity: Contributed capital TAC CORPORATION Balance Sheet (Partial) At End of This Fiscal Year Total contributed capital Total stockholders' equity EA $ 0 EA 0
The following information was extracted from the records of TAC Corporation at the end of the fiscal year after all adjusting entries were completed: Common stock ($20 par value; 100,000 shares authorized, 34,000 shares issued, 32,000 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the beginning of the year Treasury stock at cost (2,000 shares) Net income Current stock price $ 680,000 163,000 16,000 75,000 (25,000) $ 30,000 $ 22.29 Required 1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. Note: Amounts to be deducted should be indicated by a minus sign. Stockholders' equity: Contributed capital TAC CORPORATION Balance Sheet (Partial) At End of This Fiscal Year Total contributed capital Total stockholders' equity EA $ 0 EA 0
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 12RE: Given the following year-end information, compute Greenwood Corporations basic and diluted earnings...
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