- Tot Prepare The December 31 2020 Stockholders Equity Section Assume 2020 Net Income Was 327 000 Enter Acco Do No 1 (32.91 KiB) Viewed 4 times
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←HW1-Chapter 15 Question 2 of 19 Tamarisk Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1,800 shares issued) Common stock, $5 par (96,000 shares authorized, 19.200 shares issued) Additional paid-in capital Retained earnings Total 1. 2. 3. 4. 5. 6. $180,000 During 2020, Tamarisk took part in the following transactions concerning stockholders' equity. Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 7. 96,000 113,000 12.5/25 E 449,000 $838,000 Purchased 1,800 shares of its own outstanding common stock for $42 per share. Tamarisk uses the cost method. Reissued 800 trury shares for land valued at $34,500. Issued 460 shares of preferred stock at $104 per share. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $49 per share. Issued the stock dividend. Declared the annual 2020 $9 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021.