Problem 152 Prepare the stockholders equity section as of Ap

Problem 15-2

Prepare the stockholders’ equity section as of April 30, 2017. Net income for the first 4 months of 2017 was $137,100. (Enter account name only and do not provide descriptive information.)

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Problem 15-2

Wildhorse Company had the following stockholders’ equity as of January 1, 2017.

Common stock, $5 par value, 20,200 shares issued		$101,000
Paid-in capital in excess of par—common stock		303,000
Retained earnings		319,000
Total stockholders’ equity		$723,000

During 2017, the following transactions occurred.

Feb. 1		Wildhorse repurchased 2,060 shares of treasury stock at a price of $18 per share.
Mar. 1		720 shares of treasury stock repurchased above were reissued at $16 per share.
Mar. 18		490 shares of treasury stock repurchased above were reissued at $15 per share.
Apr. 22		650 shares of treasury stock repurchased above were reissued at $20 per share.

Prepare the stockholders’ equity section as of April 30, 2017. Net income for the first 4 months of 2017 was $137,100. (Enter account name only and do not provide descriptive information.)

WILDHORSE COMPANY Stockholders’ Equity $\"Entry$ April 30, 2017For the Year Ended April 30, 2017For the Quarter Ended April 30, 2017
$\"Entry$			$ $\"Entry$
$\"Entry$			$\"Entry$
$\"Entry$			$\"Entry$
$\"Entry$ Additional Paid-in Capital Capital Stock Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders\' Equity Total Assets Total Capital Stock Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders\' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders\' Equity			$\"Entry$
$\"Entry$			$\"Entry$
			$\"Entry$
$\"Entry$ AddLess : $\"Entry$			$\"Entry$
$\"Entry$ Additional Paid-in Capital Capital Stock Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders\' Equity Total Assets Total Capital Stock Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders\' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders\' Equity			$ $\"Entry$

Solution:

Statement of Retained Earnings
Particulars	Amount
Beginning retained earnings	$319,000.00
Add: Net Income	$137,100.00
Less: Loss from sale of treasury stock (720$2 + 490$3)	$2,910.00

Ending Retained Earnings	$453,190.00

Problem 15-2 Prepare the stockholders’ equity section as of April 30, 2017. Net income for the first 4 months of 2017 was $137,100. (Enter account name only and

Problem 152 Prepare the stockholders equity section as of Ap

Solution

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