Sycamore Inc., Wells Fargo & Company, Pepp Company
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Instructions
Prepare the stockholders' equity section at December 31, assuming $100,000 of retained earnings is restricted for plant expansion.
The following accounts appear in the ledger of Sycamore Inc. after the books are closed at December 31, 2007.
Common Stock (no-par, $1 stated value, 400,000 shares authorized, 200,000 shares issued) $ 200,000
Paid-in Capital in Excess of Stated Value?Common Stock 1,200,000
Preferred Stock ($50 par value, 8%, 40,000 shares authorized, 12,000 shares issued) 600,000
Retained Earnings 900,000
Treasury Stock (10,000 common shares) 64,000
Paid-in Capital in Excess of Par Value?Preferred Stock 24,000
Instructions
Prepare the stockholders' equity section of the balance sheet for Wells Fargo as of December 31, 2004.
Wells Fargo & Company, headquartered in San Francisco, is one of the nation's largest financial institutions. It reported the following selected accounts (in millions) as of December 31, 2004.
Retained earnings $27,143
Preferred stock 270
Common stock par value, authorized 6,000,000,000 shares; issued 1,736,381,025 shares 2,894
Treasury stock?41,789,388 shares (2,247)
Additional paid-in capital?common stock 9,806
A. Prepare a stockholders' equity
On December 31, 2006, Pepp Company had 1,300,000 shares of $5 par common stock issued and outstanding. The stockholders' equity accounts at December 31, 2006, had the balances listed here.
Common Stock $6,500,000
Additional Paid-in Capital 1,800,000
Retained Earnings 1,200,000
Transactions during 2007 and other information related to stockholders' equity accounts were as follows.
1. On January 10, 2007, issued at $109 per share 100,000 shares of $100 par value, 8% cumulative preferred stock.
2. On February 8, 2007, reacquired 15,000 shares of its common stock for $11 per share.
3. On June 8, 2007, declared a cash dividend of $1.20 per share on the common stock outstanding, payable on July 10, 2007, to stockholders of record on July 1, 2007.
4. On December 9, 2007, declared the yearly cash dividend on preferred stock, payable January 10, 2008, to stockholders of record on December 15, 2007.
5. Net income for the year was $3,600,000.
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Instructions
Prepare the stockholders' equity section at December 31, assuming $100,000 of retained earnings is restricted for plant expansion.
The following accounts appear in the ledger of Sycamore Inc. after the books are closed at December 31, 2007.
Common Stock (no-par, $1 stated value, 400,000 shares authorized, 200,000 shares issued) $ 200,000
Paid-in Capital in Excess of Stated Value?Common Stock 1,200,000
Preferred Stock ($50 par value, 8%, 40,000 shares authorized, 12,000 shares issued) 600,000
Retained Earnings 900,000
Treasury Stock (10,000 common shares) 64,000
Paid-in Capital in Excess of Par Value?Preferred Stock 24,000
Common stock (no-par, $1 stated value, 400,000 shares authorized, 200,000
200,000 issued
Preferred Stock ($50 par value, 8%, 40,000 shares authorized, 600,000
12,000 shares issued
Paid-in Capital in Excess of Stated Value:
Common Stock 1,200,000
Preferred Stock 24,000
Total Contributed Capital 2,024,000
Retained Earnings:
Restricted for Plant ...
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