Excel Assignment #6
Stockholders’ Equity Excel
ACCT 20100 Fall 2014
Cavanaugh Company began year 2013 with the following balances in its stockholders’ equity accounts.
Common Stock -- $10 par, 500,000 shares authorized, 300,000
shares issued and outstanding
Preferred Stock – 8%, $100 par, 30,000 shares authorized,
-0- shares issued
Capital in Excess of Par
Treasury Stock
Retained Earnings
Total Stockholders' Equity
$ 3,000,000
$
-0$ 1,500,000
$
-0$ 2,000,000
$ 6,500,000
The company had the following transactions which impact their stockholders’ equity accounts during
2013.
Date
Transaction Description
January 10, 2013
Issued 1,000 shares of 8% $100 par value cumulative Preferred Stock at an
issue price of $125.
February 15, 2013
Declared and paid a 10% stock dividend. The market value of the stock is
$18 per share.
May 1, 2013
Purchased 40,000 shares of treasury stock at $20 per share.
September 1, 2013
Sold 10,000 shares of treasury stock at $26 per share.
September 30, 2013
Sold 10,000 shares of treasury stock at $15 per share to corporate officers.
November 15, 2013
The company had a 2 for 1 stock split on its common stock.
December 31, 2013
The Board of Directors declared and paid a dividend totaling $150,000.
December 31, 2013
Net Income for the year ending December 31, 2010 is $350,000.
REQUIRED:
1.
Prepare a journal entry for each transaction. After each transaction determine the following
balances of each of the following items:
a. Common Stock shares outstanding
b. Capital in Excess of Par
c. Treasury Stock
d. Retained Earnings
2. Determine how much (in total, NOT per share) of the December 31 dividends preferred
shareholders will receive and how much the common shareholders will receive.
3. Determine the ending balances of the Stockholders’ Equity accounts for the company.
Excel Rules:
1. You must use the Excel Templates provided on the ACCT 20100 website
(www.acct20100.com). Note that each template is individualized for each
student with an ID code for each student. It will be assumed an Honor
Code VIOLATION if you use a template with someone else’s ID Code.
2. You must use Microsoft EXCEL and not any other spreadsheet program.
Failure to use MS Excel will result in a zero grade. Completed templates
need to be saved as xls or xlsx files. Files that were not uploaded in MS
Excel and saved in the appropriate format will receive a zero grade.
3. You must work individually on this assignment. Working with another
student is a violation of the Notre Dame Honor code and will be enforced
when discovered.
4. You must use links and formulas where ever possible. Failure to exploit
Excel will result in a zero grade.
5. You must sign your name to the honor code statement (the first sheet of
the Excel template). Failure to sign your name (by typing your name) will
result in a zero grade.
6. You must name your Excel file as: last name first name Excel 6. Failure to
name your file in this exact syntax will result in a zero grade.
7.
Completed templates will need to be uploaded to the ACCT 20100 dropbox
BEFORE the date and time due.