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Included in the December 31, 2012, Jacobi Company balance sheet was the following shareholders' equity section:

632_p_16-15-1_q.png

The company engaged in the following stock transactions during 2013:

2421_p_16-15-2_q.png

Prepare the following:

Jan 4

Dividends; Preferred ______________
Dividends;Common ______________
Cash ________________

Jan 5

Cash _______________
Preferred Stock;$100 Par ______________
Additional Paid in Cap;Pref ______________

Jan 22

Cash _______________
Common Stock;$5 Par ________________
Additional Paid in Cap;Common ________________

April 2

Cash _____________
Treasury Stock ______________
Additional Paid in Cap;Treasury Stock ______________

May 14

REtained Earnings _____________
Common Stock to Dist _______________
Additional Paid in Cap;Stock Dividend _______________

June 4

Retained Earnings ______________
Dividends Payable: Preffered ________________

June 29

Common Stock to Dist _______________
Common Stock;$5 Par ________________

July 5

Dividends Payable;Preferred _______________
Cash _________________

July 20

Memo Entry ______________
Memo Entry __________________

August 3

Declare Dividend
Loss on Disposible Invest _______________
Unreal.decrease in Value Avail for sale Sec ________________
Allow. for change in value of invest. ________________
Dividend Payable (Aug 3)
Retained Earnings __________________
Property Dividend Payable _________________

Sept 14

Property Dividend Payable _________________
Allow for change in value of invest _________________
Investment in Drot Co. Stocks _______________

Dec 3

Retained Earnings __________________
Dividends Payable;Preferred _________________
Dividends Payable;Common __________________

PART II

2. Prepare the December 31, 2013, shareholders' equity section (assume that 2013 net income was $270,000).
Contributed Capital

Preferred Stock (6%,$100 Par) $_________________
Additional Paid in Capital on Pref Stock _________________ $________________
Common Stock ($2.50 Par) $________________
Additional Paid in Cap. on Common Stock _________________ $________________
Additional Paid in Cap on Treasury Stock ________________
Additional Paid in Cap from Stock Dividend ________________
TOTAL CONTRIBUTED CAPITAL $_______________
REtained Earnings _______________
Accumulated other comprehensive income (loss)
Unrealized Decrease in value of avail for sale securities ________________
Total Contrib. Capital,retained earnings, and accum other compreh. income $_______________
(less) Treasury Stock _______________
Total Shareholder's Equity $______________ 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M91730066

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