question archive Data table Assets Amount Current assets $ 33,000 101,200 Property and equipment, net $ 134,200 Total assets Liabilities and Equity Liabilities $ 37,700 Stockholders' equity: 2,000 $0
Data table Assets Amount Current assets $ 33,000 101,200 Property and equipment, net $ 134,200 Total assets Liabilities and Equity Liabilities $ 37,700 Stockholders' equity: 2,000 $0
Subject:BusinessPrice: Bought3
Data table Assets Amount Current assets $ 33,000 101,200 Property and equipment, net $ 134,200 Total assets Liabilities and Equity Liabilities $ 37,700 Stockholders' equity: 2,000 $0.60 cumulative preferred stock, $10 par, 200 shares issued Common stock, $8 par, 5,800 shares issued Paid-in capital in excess of par—common 46,400 18,100 30,000 Retained earnings $ 134,200 Total liabilities and equity Print Done ? More info Feb 13 Issued 5,000 shares of common stock for $11 per share. Declared the regular cash dividend on the preferred stock. Jun 7 24 Paid the cash dividend. Aug 9 Declared and distributed a 10% stock dividend on the common stock. Oct Nov Market price of the common stock was $16 per share. 26 Reacquired 200 shares of common stock as treasury stock, paying $17 per share. 20 Sold 100 shares of the treasury stock for $20 per share. Declared a cash dividend of $0.30 per share on the outstanding common stock; dividends will be paid in January, 2020. Dec 31 a Print Done Requirement 1. Journalize Venice Jewelry's transactions. Explanations are not required. (Record debits first, Feb 13: Issued 5,000 shares of common stock for $11 per share. Journal Entry Accounts Date Debit Credit Feb 13 Cash 55,000 Common Stock 40,000 Paid-in Capital in Excess of Par—Common 15,000 Jun 7: Declared the regular cash dividend on the preferred stock. Journal Entry Accounts Date Debit Credit Jun 7 Retained Earnings 120 Dividends Payable 120 Jun 24: Paid the cash dividend. Journal Entry Accounts Date Debit Credit Jun 24 Dividends Payable 120 Cash 120 Aug 9: Declared and distributed a 10% stock dividend on the common stock. Market price of the common stock was $16 per share. Journal Entry Accounts Date Debit Credit Aug 9 Retained Earnings 17,280 Common Stock 8,640 Paid-in Capital in Excess of Par—Common 8,640 Oct 26: Reacquired 200 shares of common stock as treasury stock, paying $17 per share. Date Journal Entry Accounts Treasury Stock-Common Debit Credit Oct 26 3,400 Cash 3,400 Nov 20: Sold 100 shares of the treasury stock for $20 per share. Journal Entry Accounts Date Debit Credit Nov 20 Cash 2,000 1,700 Treasury Stock-Common Paid-in Capital from Treasury Stock Transactions 300 Paid-in Capital from Treasury Stock Transactions 300 Dec 31: Declared a cash dividend of S0.30 per share on the outstanding common stock; dividends will be paid in January, 2020. (Round your answer to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit Dec 31 Retained Earnings 3,534 Dividends Payable 3,534 Requirement 2. Report the company's stockholders' equity at December 31, 2019. Net income for 2019 was $27,000. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Venice Jewelry Company Balance Sheet (partial) ) December 31, 2019 200 shares 3000 $ 10 par $ 8 par issued and outstanding issued 11880 shares 95040 Stockholders' Equity $ 0.60 currulative preferred stock, Common stock, 11780 shares outstanding Paid-in capital in excess of par--common Paid-in capital from treasury slock transactions Total paid-in capital Retained earnings Less: Treasury stock, common, , 41740 100 139880 36066 100 shares (1700) at cost 174246 Total stackholders' equity
