Essay
Use the following information to prepare the shareholders' equity section of the balance sheet for Parish Incorporated:
A. Common Stock-$0.30 par value: 60,000 shares authorized, 25,000 shares outstanding as of December 31, 2016
B. Retained Earnings, December 31, 2016-$68,000
C. Treasury Stock-Parish repurchased 3,000 shares at $50 per share
D. Total Shareholders' Equity as of December 31, 2016 is $540,000
Correct Answer:
Verified
Calculations:
Common stock = 25,000 out...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
Calculations:Common stock = 25,000 out...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q40: Use the following consolidated statement of stockholders'
Q41: During May, 2016, Backyard Corporation announced a
Q42: In October, 2016, Sirius Corporation distributed profits
Q43: Amusement Corporation reports the following components of
Q44: Following is the stockholder's equity section of
Q46: If a company feels that its shares
Q47: Stone Company reported net income of $2,536
Q48: Stay Fit Company has $1,600 of convertible
Q49: Schulze has 600,000 shares of $2 par
Q50: Earned capital includes the positive or negative