- The Stockholders Equity Accounts Of Concord Corporation On January 1 2022 Were As Follows 420 000 1 400 000 21 000 1 (39.22 KiB) Viewed 147 times
The stockholders' equity accounts of Concord Corporation on January 1, 2022, were as follows. $420,000 1,400,000 21,000 Preferred Stock (7%, $100 par noncumulative, 7,000 shares authorized) Common Stock ($4 stated value, 420,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (7,000 common shares) 672,000 963,200 56,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 7,000 shares of common stock for $42,000. Mar. 20 Oct. 1 Purchased 1,400 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Nov. 1 Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2 Determined that net income for the year was $392,000. Paid the dividend declared on December 1. Dec. 31
Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Preferred Stock Common Stock MI Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Ini
Cash Dividends []] || Treasury Stock
Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round answers to 2 decimal places, e.g. 15.25.) Payout ratio % Earnings per share $ DOO Return on common stockholders' equity %