Tamarisk Company reported the following amounts in the stockholders' equity section of its December 31, 2024, balance sheet: Preferred stock, 11%, $100 par (100,000 shares authorized, 23,000 shares issued) Common stock, $1 par (1,000,000 shares authorized, 302,000 shares issued) Additional paid-in capital-common Retained earnings Total During 2025, Tamarisk took part in the following transactions concerning stockholders' equity: Paid the annual 2024 dividend on preferred stock and a $0.50 per share dividend on common stock. These dividends had been declared on December 31, 2024. Purchased 1,100 shares of its own outstanding common stock for $9 per share. Tamarisk uses the cost method. Reissued 1,100 treasury shares for land with an appraised value of $9,300. Tamarisk's common shares were trading for $9.50 per share. 1 2 3. 4. 5. $2,300,000 302,000 895,000 1,245,000 $4,742,000 6. Issued 48,000 shares of common stock at $10 per share. Declared and recorded a 2:1 stock split on the outstanding common stock when the stock is selling for $11 per share. Declared the annual 2025 dividend on preferred stock and the $0.50 per share dividend on common stock. These dividends are payable in 2026.
Tamarisk Company reported the following amounts in the stockholders' equity section of its December 31, 2024, balance sheet: Preferred stock, 11%, $100 par (100,000 shares authorized, 23,000 shares issued) Common stock, $1 par (1,000,000 shares authorized, 302,000 shares issued) Additional paid-in capital-common Retained earnings Total During 2025, Tamarisk took part in the following transactions concerning stockholders' equity: Paid the annual 2024 dividend on preferred stock and a $0.50 per share dividend on common stock. These dividends had been declared on December 31, 2024. Purchased 1,100 shares of its own outstanding common stock for $9 per share. Tamarisk uses the cost method. Reissued 1,100 treasury shares for land with an appraised value of $9,300. Tamarisk's common shares were trading for $9.50 per share. 1 2 3. 4. 5. $2,300,000 302,000 895,000 1,245,000 $4,742,000 6. Issued 48,000 shares of common stock at $10 per share. Declared and recorded a 2:1 stock split on the outstanding common stock when the stock is selling for $11 per share. Declared the annual 2025 dividend on preferred stock and the $0.50 per share dividend on common stock. These dividends are payable in 2026.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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