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Financial accounting CH 13

1:

Sandy systems stock issuance..

2:

FrontierFrontier Amusements Corporation had the following? stockholders' equity on November

30 LOADING...

?(Click the icon to view the? stockholders' equity.)On December? 30,

FrontierFrontier purchased 150 shares of treasury stock at $13 per share.

Requirements

1.	Journalize the purchase of the treasury stock.
2.	Prepare the? stockholders' equity section of the balance sheet at December? 31, 20162016. Assume the balance in retained earnings is unchanged from NovemberNovember 3030.
3.	How many shares of common stock are outstanding after the purchase of treasury? stock?

Requirement 1. Journalize the purchase of the treasury stock.? (Record debits? first, then credits. Select the explanation on the last line of the journal entry? table.)

Date			Accounts and Explanation	Debit	Credit
Dec. 30

3:

Horizon communication communications has the following? stockholders' equity on December 31?, 2016

LOADING...

?(Click on the icon to view the? stockholders' equity)

Requirements

1.	Assuming the preferred stock is? cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2016 and 2017 if total dividends are $7,680 in 2016 and $49,000 in 2017. Assume no changes in preferred stock and common stock in 2017
2.	Record the journal entries for 2016 assuming that Horizon Communications declared the dividend on December 1 for stockholders of record on December 10. Horizon Communications paid the dividend on December 20.

Requirement 1. Assuming the preferred stock is? cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2016 and 2017 if total dividends are $7,680 in 2016 and $49,000 in 2017.

Assume no changes in preferred stock and common stock in 2017. (Assume all preferred dividends have been paid prior to 2016. Complete all input boxes. Enter a? "0" for zero amounts. For the current year preferred?dividend, be sure to enter the calculated dividend on the? "current year? dividend" line and the paid out dividend on the? "total dividend to preferred? stockholders" line.) Horizon?'s 2016 Dividend would be divided between preferred and common stockholders in this? manner

Total Dividend2016
Dividend to preferred stockholders:
Dividend in arrears
Current year dividend
Total dividend to preferred stockholders
Dividend to common stockholders

4:

Golf Club

PotteryPottery ?Schools, Inc. is authorized to issue? 200,000 shares of ?$2 par common stock. The company issued 76,000 shares at $4 per share. When the market price of common stock was $6 per? share, PotteryPottery declared and distributed a 10% stock dividend.? Later, PotteryPottery declared and paid a $0.10 per share cash dividend. Requirements 1. Journalize the declaration and the distribution of the stock dividend. 2. Journalize the declaration and payment of the cash dividend

5:

Pottery School

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