The stockholders’ equity section of Benton Corporation’s

The stockholders’ equity section of Benton Corporation’s balance sheet as of December 31, 2018 is as follows:

Stockholders’ Equity

         Common stock, $5 par value; authorized, 2,000,000 shares;

              issued, 400,000 shares                                                                            $2,000,000

         Paid-in capital in excess of par                                                                         850,000

         Retained earnings                                                                                           3,000,000

                                                                                                                              $5,850,000

The following events occurred from January to August during 2019:

1.   Jan.  5        10,000 shares of authorized and unissued common stock were sold for $8 per share.

2.   Jan. 16       Purchase back 1,000 treasury shares at $10 per share.

3.   Feb. 10      Reissue all the treasury shares for $14 per share.

4.   March 1     A 30% stock dividend was declared and issued. Market value per share is currently $15.

5.   April 1       A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Market value on March 31 was $18 per share.

6.   July 1        A 15% stock dividend was declared and issued. Market value is currently $10 per share.

7.   Aug. 15     A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of record on August 21.

Requirements: 

What is the balance of common stock at the end of August for 2019?

What is the balance of retained earnings at the end of August for 2019?

What is the number of shares outstanding at the end of August for 2019?

How Our Website Works

1. FILL IN OUR SIMPLE ORDER FORM

It has never been easier to place your order. Fill in the initial requirements in the small order form located on the home page and press “continue” button to proceed to the main order form or press “order” button in the header menu. Starting from there let our system intuitively guide you through all steps of ordering process.

2. PROCEED WITH THE PAYMENT

All your payments are processed securely through PayPal. This enables us to guarantee a 100% security of your funds and process payments swiftly.

3. WRITER ASSIGNMENT

Next, we match up your order details with the most qualified freelance writer in your field.

4. WRITING PROCESS

Once we have found the most suitable writer for your assignment, they start working on a masterpiece just for you!

5. DELIVERY

Once finished, your final paper will be available for download through your personal dashboard. You will also receive an email notification with a copy of your paper attached to it. Sometimes, the writer may leave a note for you about the order in case there is any additional information that they need to give you.

Leave a Reply

Your email address will not be published.