at the end of 2013 Hayley corporation had the following corporation had the foll

Question

at the end of 2013 Hayley corporation had the following corporation had the following equity accounts and balances: Common stock , $10 par $800.00 Additional paid-in capital -common stock 200,000 retained earnings 279,000 During 2014, Haley engaged in the following tansactions involving its equity accounts: A. Sold 5,000 shares of common stock for $19 per share. b. sold 1,200 shares of 12%. $50 par preferred stock at $75 per share. c. Declared and paid cash dividends of $22,000 D Repurchased 1,000 shares of treasury stock(common) for $24 per share. E. Sold 300 of the treasury shares fro $26 per share. Required: 1. Prepare the journal entries for Transactions a-e 2. assume the 2014 net income was $123,700. Prepare a statement of stockholders equity at December 31, 2014.

I just need to statement of stockholders equity done .....

Explanation / Answer

statement of stockholders equity as on 2014 Original Share issue Net Income dividend payment Treasury Stock Total Common stock , $10 par, 5080 shares $          800 $      50,000 $    50,800 Additional paid-in capital -common stock $ 200,000 $      45,000 $                   600 $ 245,600 Preferred Stock, 12%, $50 par, 1200 shares $      60,000 $    60,000 Additional paid-in capital -preferred stock $      30,000 $    30,000 retained earnings $ 279,000 $     123,700 $                   (22,000) $ 380,700 Note- repurchase does not affect equity statement and if treasury stock issued at higher amount than repurchase cost difference is added to additional paid in capital account treasury stock 24000 cash 24000 cash 7800 additional paid in capital 600 treasury stock 7200

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