Soal TM 2 Pertemuan 11
Soal-soal
Corporations: Organization and Capital
Stock Transactions
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Petunjuk Pengerjaan Tugas Mandiri
Soal Tugas Mandiri (TM) dikerjakan secara berkelompok,
di tulis tangan pada kertas double folio dengan
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Dikumpulkan pada awal kuliah minggu/pertemuan
berikutnya.
Jawaban Soal TM yang sama, oleh mahasiswa secara
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diskusi di binusmaya (LMS), pada kolom tugas. Up load
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Bila anda mengerjakan salah satunya saja atau tidak
keduanya maka anda dianggap tidak mengumpulkan TM
pada pertemuan yang dimaksudkan.
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SOAL TUGAS MANDIRI 11
E 14-8
The stockholders’ equity section of Lumley Corporation at December 31 is as follows.
LUMLEY CORPORATION
Balance Sheet (partial)
Paid-in capital
Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares
issued and outstanding
Common stock, no par, 75,000 share authorized, 600,000 shares issued
Total paid-in capital
Retained earnings
Total paid-in capital and retained earnings
Less: Treasury stock (12,000 common shares)
Total stockholders’ equity
$
600,000
1,200,000
1,800,000
1,858,888
3,658,000
(64,000)
$ 3,594,000
Instructions
a. How many shares of common stock are outstanding?
b. Assuming there is a state value, what is the state value of the common stock?
c. What is the par value of the preferred stock?
d. If the annual dividend an preferred stock is $30,000, what is the dividend rate on preferred
stock?
e. Id dividends of $60,000 were in arrears on preferred stock, what would be the balance in
Retained Earnings?
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SOAL TUGAS MANDIRI 11
P 14-2A
Greeve Corporation had the following stockholders’ equity accounts on January 1, 2005:
Common Stock ($1 par) $400,000, Paid-in Capital in Excess of Par Value $500,000, and Retained
Earnings $100,000. In 2005, the company had the following treasury stock transactions.
Mar.
June
Sep.
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1
1
Purchased 5,000 shares at $7 per share.
Sold 1,000 shares at $10 per share.
Sold 2,000 shares at $9 per share.
Dec.
1
Sold 1,000 shares at $5 per share.
Greeve Corporation uses the cost method of accounting for treasury stock. In 2005, the company
reported net income of $60,000
Instructions
a. Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2005,
for net income,
b. Open accounts for (1) Paid-in Capital from Treasury Stock, (2) Treasury Stock, and (3) Retained
Earnings. Post to these accounts using J12 as the posting reference.
c. Prepare the stockholders’ equity section for Greeve Corporation at December 31, 2005.
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SOAL TUGAS MANDIRI 11
P14-5A The following stockholders’ equity accounts arranged alphabetically
are in the ledger of McGrath Corporation at December 31, 2005.
Common stock ($10 stated value)
Paid in Capital from Treasury Stock
Paid in Capital in Excess of Stated Value – Common Stock
Paid in Capital in Excess of Par Value – Preferred Stock
Preferred Stock (8%, $100 par, noncumulative)
Retained Earnings
Treasury Stock – Common (8,000 shares)
$1,500,000
6,000
690,000
288,000
400,000
776,000
88,000
Instructions
Prepare a stockholders’ equity section at December 31,2005
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