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down below need help in answering all a 7

down below need help in answering all b

Question: Anne Cleves Company reported the following amounts…

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Anne Cleves Company reported the following amounts in the stockholders’ equity section of its December 31, 2013, balance sheet.

Preferred stock, 10%, $100 par (10,000 shares authorized, 2,410 shares issued)

$241,000

Common stock, $5 par (111,350 shares authorized, 22,270 shares issued)

111,350

Additional paid-in capital

132,600

Retained earnings

479,200

   Total

$964,150

During 2014, Cleves took part in the following transactions concerning stockholders’ equity.

1.

Paid the annual 2013 $10 per share dividend on preferred stock and a $3 per share dividend on common stock. These dividends had been declared on December 31, 2013.

2.

Purchased 1,600 shares of its own outstanding common stock for $40 per share. Cleves uses the cost method.

3.

Reissued 670 treasury shares for land valued at $31,400.

4.

Issued 560 shares of preferred stock at $106 per share.

5.

Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $46 per share.

6.

Issued the stock dividend.

7.

Declared the annual 2014 $10 per share dividend on preferred stock and the $3 per share dividend on common stock. These dividends are payable in 2015.

(a) Prepare journal entries to record the transactions described above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts.)

No.

Account Titles and Explanation

Debit

Credit

1.

Dividends Payable-Common StockRetained EarningsPaid-in Capital in Excess of Par-Preferred StockDividends Payable-Preferred StockLandPaid-in Capital From Treasury StockPreferred StockCommon Stock Dividend DistributablePaid-in Capital in Excess of Par-Common StockTreasury StockCashCommon Stock

Dividends Payable-Preferred StockCommon StockDividends Payable-Common StockPreferred StockLandPaid-in Capital in Excess of Par-Preferred StockPaid-in Capital in Excess of Par-Common StockRetained EarningsCashPaid-in Capital From Treasury StockTreasury StockCommon Stock Dividend Distributable

Retained EarningsCommon StockDividends Payable-Preferred StockTreasury StockPaid-in Capital in Excess of Par-Common StockCommon Stock Dividend DistributableCashDividends Payable-Common StockLandPaid-in Capital From Treasury StockPreferred StockPaid-in Capital in Excess of Par-Preferred Stock

2.

Dividends Payable-Preferred StockDividends Payable-Common StockLandCashPaid-in Capital in Excess of Par-Preferred StockPaid-in Capital From Treasury StockPreferred StockRetained EarningsPaid-in Capital in Excess of Par-Common StockTreasury StockCommon StockCommon Stock Dividend Distributable

Treasury StockLandPreferred StockPaid-in Capital From Treasury StockCommon StockRetained EarningsCashDividends Payable-Preferred StockCommon Stock Dividend DistributableDividends Payable-Common StockPaid-in Capital in Excess of Par-Preferred StockPaid-in Capital in Excess of Par-Common Stock

3.

Common StockLandRetained EarningsPaid-in Capital From Treasury StockPreferred StockTreasury StockDividends Payable-Common StockPaid-in Capital in Excess of Par-Preferred StockCommon Stock Dividend DistributablePaid-in Capital in Excess of Par-Common StockCashDividends Payable-Preferred Stock

Paid-in Capital From Treasury StockPaid-in Capital in Excess of Par-Preferred StockLandPreferred StockPaid-in Capital in Excess of Par-Common StockRetained EarningsTreasury StockDividends Payable-Common StockCashCommon StockCommon Stock Dividend DistributableDividends Payable-Preferred Stock

Common StockCommon Stock Dividend DistributablePaid-in Capital From Treasury StockCashRetained EarningsDividends Payable-Preferred StockDividends Payable-Common StockPreferred StockTreasury StockLandPaid-in Capital in Excess of Par-Preferred StockPaid-in Capital in Excess of Par-Common Stock

4.

Dividends Payable-Preferred StockTreasury StockPaid-in Capital From Treasury StockDividends Payable-Common StockCashLandPaid-in Capital in Excess of Par-Preferred StockPreferred StockCommon Stock Dividend DistributablePaid-in Capital in Excess of Par-Common StockRetained EarningsCommon Stock

Common StockTreasury StockPaid-in Capital in Excess of Par-Common StockDividends Payable-Preferred StockDividends Payable-Common StockCashLandCommon Stock Dividend DistributablePaid-in Capital From Treasury StockPaid-in Capital in Excess of Par-Preferred StockPreferred StockRetained Earnings

Retained EarningsTreasury StockPaid-in Capital in Excess of Par-Common StockLandPaid-in Capital From Treasury StockCommon StockCommon Stock Dividend DistributableCashPaid-in Capital in Excess of Par-Preferred StockDividends Payable-Preferred StockDividends Payable-Common StockPreferred Stock

5.

Dividends Payable-Common StockPaid-in Capital in Excess of Par-Preferred StockDividends Payable-Preferred StockCommon StockRetained EarningsCommon Stock Dividend DistributableLandCashPaid-in Capital From Treasury StockPreferred StockPaid-in Capital in Excess of Par-Common StockTreasury Stock

Dividends Payable-Preferred StockCashRetained EarningsTreasury StockPaid-in Capital in Excess of Par-Preferred StockCommon StockCommon Stock Dividend DistributableDividends Payable-Common StockLandPaid-in Capital From Treasury StockPreferred StockPaid-in Capital in Excess of Par-Common Stock

LandCommon StockPaid-in Capital From Treasury StockPreferred StockRetained EarningsPaid-in Capital in Excess of Par-Preferred StockPaid-in Capital in Excess of Par-Common StockDividends Payable-Preferred StockTreasury StockCashDividends Payable-Common StockCommon Stock Dividend Distributable

6.

LandCommon StockPreferred StockCommon Stock Dividend DistributablePaid-in Capital in Excess of Par-Common StockDividends Payable-Common StockDividends Payable-Preferred StockPaid-in Capital in Excess of Par-Preferred StockRetained EarningsTreasury StockPaid-in Capital From Treasury StockCash

Paid-in Capital in Excess of Par-Preferred StockLandPaid-in Capital From Treasury StockCashPaid-in Capital in Excess of Par-Common StockPreferred StockRetained EarningsTreasury StockCommon StockCommon Stock Dividend DistributableDividends Payable-Preferred StockDividends Payable-Common Stock

Need Help in Answering questions as follows:

7.

Paid-in Capital From Treasury StockRetained EarningsTreasury StockPreferred StockDividends Payable-Common StockDividends Payable-Preferred StockLandPaid-in Capital in Excess of Par-Common StockPaid-in Capital in Excess of Par-Preferred StockCashCommon StockCommon Stock Dividend Distributable

Paid-in Capital From Treasury StockPreferred StockDividends Payable-Common StockCashPaid-in Capital in Excess of Par-Common StockPaid-in Capital in Excess of Par-Preferred StockRetained EarningsCommon Stock Dividend DistributableDividends Payable-Preferred StockLandTreasury StockCommon Stock

Dividends Payable-Common StockPaid-in Capital From Treasury StockPreferred StockPaid-in Capital in Excess of Par-Preferred StockLandPaid-in Capital in Excess of Par-Common StockRetained EarningsTreasury StockCommon StockCashCommon Stock Dividend DistributableDividends Payable-Preferred Stock

Need Help in Answering questions as follows:

(b) Prepare the December 31, 2014, stockholders’ equity section. Assume 2014 net income was $344,600.(Enter account name only .Do not provide any descriptive information.)

ANNE CLEVES COMPANY

Stockholders’ Equity

December 31, 2014

Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity

$

Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity

Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity

Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity

Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity

AddLess

:

Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity

$

Preferred stock, 10%, $100 par (10,000 shares authorized, 2,410 shares issued)

 

$241,000

Common stock, $5 par (111,350 shares authorized, 22,270 shares issued)

 

111,350

Additional paid-in capital

 

132,600

Retained earnings

 

479,200

   Total

 

$964,150

 

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