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Category > Accounting Posted 06 Aug 2017 My Price 7.00

Ashley Corporation

The stockholders%u2019 equity accounts of Ashley Corporation on January 1, 2012, were as follows.

Preferred Stock (8%, $49 par, cumulative, 10,300 shares authorized)   $ 377,300
Common Stock ($1 stated value, 2,083,500 shares authorized)   1,345,400
Paid-in Capital in Excess of Par%u2014Preferred Stock   102,600
Paid-in Capital in Excess of Stated Value%u2014Common Stock   1,435,300
Retained Earnings   1,780,500
Treasury Stock (10,800 common shares)   43,200


During 2012, the corporation had the following transactions and events pertaining to its stockholders%u2019 equity.

Feb. 1   Issued 24,600 shares of common stock for $121,900.
Apr. 14   Sold 5,700 shares of treasury stock%u2014common for $32,700.
Sept. 3   Issued 4,700 shares of common stock for a patent valued at $34,400.
Nov. 10   Purchased 1,100 shares of common stock for the treasury at a cost of $5,900.
Dec. 31   Determined that net income for the year was $401,300.

 

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Maurice Tutor
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Status NEW Posted 06 Aug 2017 09:08 AM My Price 7.00

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