The stockholders equity section of Siri Stores Inc s

balance sheet #3189

The stockholders’ equity section of Siri Stores, Inc.’s balance sheet at December 31, 2015
follows:Stockholders’ Equity Common Stock: no par, $ 3 stated value, 80,000 shares
authorized, 50,000 shares issued, and 40,500 shares outstanding ……………………………………………
150,000 Additional Paid- in Capital in Excess of Stated Value – Common……… 300,000 Retained
Earnings……………………………………………………….. 940,000 Less: Cost of Treasury Stock (9,500 s
……………………………. ( 199,500) Total Stockholders’ Equity $ 1,190,500During 2016, Siri completed
following transactions: • November 9, 2016: Purchased 3,000 shares of its own stock to be held
in the treasury. The cost per share was $ 21. • November 17, 2016: Declared and paid a cash
dividend of $ 6 per share. • November 30, 2016: Sold 1,800 treasury shares for $ 15 per
share.• December 31, 2016: Declared and paid a cash dividend of $ 6 per share. • December
31, 2016: Wrote down an available- for- sale investment by $ 23,500. • December 31, 2016:
Reported $ 50,000 net income for the year and closed net income, other comprehensive income
and dividend accounts. Requireda. Prepare the journal entries required to reflect the events
listed above. b. Based on the information provided, prepare the stockholders’ equity section for
Siri at December 31, 2016 as well as the relevant t- accounts.View Solution:
The stockholders equity section of Siri Stores Inc s balance sheet

ANSWER
http://paperinstant.com/downloads/the-stockholders-equity-section-of-siri-stores-inc-s-balance-
sheet/

1/1
Powered by TCPDF (www.tcpdf.org)