4 of 10 (4 complete) Hw Score: 71.51%, 27.89 of 39 p S10-21 (similar to II (Cick

Question

4 of 10 (4 complete) Hw Score: 71.51%, 27.89 of 39 p S10-21 (similar to II (Cick the icon to view the statement of stockholders equity) 1. How much cash did the issuance of common stock bring in during 2018? 2 What was the effect of the slock dvidends on Goss's retained eamings? On total paid-in captal? On total slockholders equity? On total 4 Goss What was the cost of the treasury stock that Goss purchased during 20167 What was the cost of the treasury slock that Goss sold during the year? For how much did Goss seil the treasury slock during 20187

Explanation / Answer

Solution 1:

Total cash received in 2016 on issue of common stock = $64,000 + $520,000 = $584,000

Solution 2:

Due to stock dividend, Goss's retained earnings were reduced by $44,000, Total paid in capital increased by $44,000. Further there is no change in total stockholder's equity and total assets of the company due to stock dividends.

Solution 3:

Cost of treasury stock purchased by Goss in 2016 = $9,000

Cost of treasury stock sold by Goss during the year = $3,000

Amount at which Goss sold the treasury stock = $9,000 + $3,000 = $12,000

Solution 4:

Comprehensive income for 2016 = Addition of net income to retained earnings = $93,000

Addition to Goss's Accumulated other comprehensive income = $7,000

Accumulated other comprehensive income will not be included in Goss's net income.

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