1 answer

Grouper Company had the following stockholders’ equity as of January 1, 2020. Common stock, $5 par...

Question:

Grouper Company had the following stockholders’ equity as of January 1, 2020.

Common stock, $5 par value, 18,700 shares issued $93,500
Paid-in capital in excess of par—common stock 301,000
Retained earnings 323,000
   Total stockholders’ equity $717,500

During 2020, the following transactions occurred.

Feb. 1 Grouper repurchased 1,830 shares of treasury stock at a price of $19 per share.
Mar. 1 740 shares of treasury stock repurchased above were reissued at $17 per share.
Mar. 18 490 shares of treasury stock repurchased above were reissued at $14 per share.
Apr. 22 530 shares of treasury stock repurchased above were reissued at $21 per share.

Prepare the stockholders’ equity section as of April 30, 2020. Net income for the first 4 months of 2020 was $139,600. (Enter account name only and do not provide descriptive information.)

GROUPER COMPANY
Stockholders’ Equity
                                                                      April 30, 2020For the Year Ended April 30, 2020For the Quarter Ended April 30, 2020

$

                                                                      Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity

                                                                      AddLess:

                                                                      Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity

$


Answers

stockholders equity
common stock 93500
paid in capital in excess of par common stock 301000
paid in capital from treasury stock 1060
Total paid in capital 395560
Retained earning 458670
less: treasury stock -1330
Total stockholders equity 457340
working
paid in capital from treasury stock (530*2) 1060
retained earning 323000+139600-(740*2)-(490*5) 458670
treasury stock (70*19) 1330

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