Question 1 -
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2015 Dividend Schedule
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As of December 31, 2014
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1st Q
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10% stock dividend
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Retained Earnings
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500,000
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2nd Q
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15% Stock dividend
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Common Stock. $5 Par
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50,000
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3rd Q
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none
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Paid in Capital excess of par
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150,000
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4th Q
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$1 Cash Dividend
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Total Stockholder's Equity
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700,000
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What is the year end stockholder's equity at the end of 2015?
How many shares are outstanding at the end of 2015?
Question 2 - Check for error.
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Sales
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$554,400
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Cost of goods sold
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$360,360
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|
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Depreciation expense
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46,200
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|
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Other operating expenses
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138,050
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-544,610
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Other gains (losses):
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|
|
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Gain on sale of equipment
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7,920
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Income before taxes
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$17,710
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Income tax expense
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-5,280
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Net income
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$12,430
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Assets
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2012
|
2011
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Cash
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$71,115
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$61,380
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Accounts receivable
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23,100
|
31,900
|
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Inventory
|
63,800
|
57,310
|
|
Equipment
|
264,000
|
244,200
|
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Accumulated depreciation
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-116,600
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-105,600
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Total assets
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$305,415
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$289,190
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|
|
|
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Liabilities:
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Accounts payable
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$31,240
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$26,070
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Income taxes payable
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1,155
|
1,320
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Total liabilities
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$32,395
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$27,390
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Equity:
|
|
|
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Common stock
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$116,600
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$116,600
|
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Paid-in Capital in excess of par value
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19,800
|
19,800
|
|
Retained earnings
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136,620
|
125,400
|
|
Total equity
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$273,020
|
$261,800
|
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Total liabilities and equity
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$305,415
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$289,190
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