Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 2) part 2: rahmig company was incorporated on mar

2) Part 2: Rahmig Company was incorporated on March 1, 20X5. The following equity...

80.2K

Verified Solution

Question

Accounting

2) Part 2: Rahmig Company was incorporated on March 1, 20X5. The following equity related transactions occurred during the remainder of year 20X5. Evaluate these transactions and prepare a statement of shareholders equity for the year ending December 31, 20X5.

Issued 2,000,000 shares of $2.00 par value common stock at $8.00 per share.

Declared and issued a 20% stock dividend (400,000 shares) at a time when the market value was $12.00 per share

Reacquired 30,000 treasury shares at $ 9.00 per share.

Declared and paid cash dividends of $ 331,800

Reported net income for the year of $ 6,890,000

Complete the following.

Rahmig Corporation

Statement of Stockholders Equity

For the Year Ended December 31, 20X5

Balance, March 1

Common Stock, $2 par

Paid in Capital in Excess of Par

Retained Earnings

Treasury Stock

Total Stockholders Equity

Issue additional shares

Purchase treasury stock

Net income

Cash dividends

Stock dividend

Balance December 31, 20X5

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

1 Write a few sentences addressing each of these prompts. In your own words, what is the...

Physics
1.2K views

1. Please answer the following questions. ? What is the origin of electric resistance in material?...

Economics
1.2K views

Given recent events (Covid-19), how would answer the following claim, “Massive increases in fiscal stimulus, record...

Physics
1.2K views

To draw the reverse characteristics of a zener diode and to study its voltage regulation...

Basic Math
1.2K views

Given the equation x 2 y 2 6x 10y z 25 0 express it in...

Algebra
1.2K views

Write two variable linear inequalities to represent relationships between quantities from a graph or a...

Algebra
1.2K views

If you lend 4000 to a friend for 15 months at 10 annual simple interest...

Accounting
1.2K views

Given the following adjusted trial balance: Debit $831 1049 1562 43 150 Credit...

Accounting
1.2K views

Flatnes Lode 1.450 cases of hockey packs per yeat. The cast sell for $139.99. The...

Accounting
1.2K views

2. Explain the following: (a) Budgeting process 12 marks] (b) Cash budget 6 marks]

Finance
1.2K views

Domtar corporation financial statement analysis 2019?

Accounting
1.2K views

A company determined that the budgeted cost of producing a product is $30 per unit....