Business, 09.07.2019 23:30 colestout2993

On january 1, 2017, kimbel inc. had these stockholders’ equity balances. common stock, $1 par (2,000,000 shares authorized, 600,000 shares issued and outstanding) $600,000 paid-in capital in excess of par value 1,500,000 retained earnings 700,000 accumulated other comprehensive income 60,000 during 2017, the following transactions and events occurred. 1. issued 50,000 shares of $1 par value common stock for $3 per share. 2. issued 60,000 shares of common stock for cash at $4 per share. 3. purchased 20,000 shares of common stock for the treasury at $3.80 per share. 4. declared and paid a cash dividend of $207,000. 5. earned net income of $410,000. 6. had other comprehensive income of $17,000. prepare the stockholders’ equity section of the balance sheet at december 31, 2017.

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On january 1, 2017, kimbel inc. had these stockholders’ equity balances. common stock, $1 par (2,000...

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