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Statement of Stockholders Equity At the end of 2013 Jeffco Inc had the following equity accounts and balances Common

Statement of Stockholders' Equity

At the end of 2013, Jeffco Inc. had the following equity accounts and balances:

Common Stock, $30 par                                               $1,400,000

Additional paid-in capital Ac€?o common stock              526,400

Retained earnings                                                          310,000

During 2014, Jeffco engaged in the following transactions involving its equity accounts:

Ac€?oa) Sold 8,000 shares of common stock for $35 per share.

      Ac€?ob) Sold 1,000 shares of 9%, $120 par preferred stock at $125 per share.

      Ac€?oc) Declared and paid cash dividends of $17,000.

      Ac€?od) Repurchased 900 shares of treasury stock (common) for $52 per share.

      Ac€?oe) Sold 100 of the treasury shares for $58 per share.

2. Assume that 2014 net income was $92,000. Prepare a statement of stockholders' equity at December 31, 2014.

Jeffco, Inc. partial balance sheet Dec 31, 2014

Stockholders equity:

Preferred stock, 9%, $120 par                                                  ?

Common stock $30 par                                                           ?

Additional paid-in capital:

Preferred                                      ?

Common                                      ?

Treasury                                       ?                                       ?

Total capital stock                                                                  ?

Retained earnings                                                                   ?


Treasury stock, at cost                                                            ?

Total stockholders equity                                                         ?

May 12 2020 View more View Less

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