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Chapter 08 - Accounting for and Presentation of Stockholders’ Equity
CHAPTER
Accounting for and Presentation
8 of Stockholders’ Equity
CHAPTER OUTLINE:
I. Paid-in Capital
A. Common Stock
1. Rights and obligations of common stockholders
2. Par value/no par value
3. Shares authorized, issued, and outstanding
B. Preferred Stock
1. Differences from common stock
2. Illustrations of dividend calculations
3. Differences from bonds
C. Additional paid-in capital
II. Retained Earnings

A. Items that cause retained earnings to change
B. Cash dividends
1. Recording transactions
2. Dividend dates
C. Stock dividends and stock splits
1. Reasons for stock dividends and stock splits
2. No impact on total market value of company's stock
III. Accumulated Other Comprehensive Income (Loss)

A. Why included in stockholders’ equity
B. Cumulative Foreign Currency Translation Adjustment
IV. Noncontrolling (Minority) Interest
V. Reporting Changes in Stockholders' Equity Accounts
VI. Owners’ Equity for Other Types of Entities

A. Proprietorships and Partnerships
B. Not-for-Profit and Governmental organizations
VII. Appendix—Personal Investing
8-1
© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any
manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
TEACHING/LEARNING OBJECTIVES:
Principal:
1. To have the student understand the major differences between common and preferred stock.
2. To reinforce the student's understanding of retained earnings, and the transactions that affect
this account.
3. To have the student understand the nature and characteristics of a cash dividend, a stock
dividend, and a stock split.
Supporting:
4. To expand the student's understanding of the components of paid-in capital, and to introduce
preferred stock.
5. To have the student understand the rights and obligations of common and preferred
stockholders.
6. To have the student understand the detailed components of a corporation's paid-in capital.
7. To expand the student's understanding of cash dividends.
8. To have the student understand the effect of stock dividends and stock splits on stockholders'
equity.
9. To have the student understand that treasury stock transactions affect only stockholders'
equity accounts.
10. To have the student be able to understand the statement of changes in stockholders' equity in
a corporate annual report, including those with Accumulated Other Comprehensive Income
and Noncontrolling (Minority) Interest captions.
TEACHING OBSERVATIONS:
1. To create added incentive for learning, it is appropriate to put the material in this chapter in
the context of investment activities in which the student will probably become involved.
2. The discussion of preferred stock can be used to clarify the characteristics of both common
stock and bonds.
3. If the instructor is so inclined, a brief discussion of the determinants of a firm's dividend

policy can help students get a better grasp of dividends (e.g., why many firms continue to pay
dividends even during loss years, or why a company like Apple, Inc. pays no dividends
despite its extraordinary profitability). Current news items about dividend rate changes,
stock dividends, and stock splits can aid understanding of these topics.
8-2
4. The impact of stock dividends and stock splits on per share data is discussed in Chapter 10.
5. Real-world examples of the statement of changes in stockholders' equity should be presented

to illustrate the topics discussed in this chapter.
ASSIGNMENT OVERVIEW:
LEARNING DIFFICULTY & OTHER

NO. OBJECTIVES TIME ESTIMATE COMMENTS
M8.1. 1, 3 Easy, 3-5 min. Basic calculations and entries.
M8.2. 2 Easy, 3-5 min. Basic preferred dividends calculations.
M8.3. 4 Easy, 3-5 min. Basic stock split calculations.
M8.4. 6 Easy, 3-5 min. Basic treasury stock transactions.
E8.5. Review Easy, 3-5 min. Straight-forward review question.
E8.6. Review Easy, 3-5 min. Good in-class demonstration exercise.
E8.7. Review Easy, 3-5 min. Review the Statement of Retained Earnings.
E8.8. Review Easy, 3-5 min. See E8.7.
E8.9. 1 Easy, 3-5 min. Use to clarify terminology: authorized, issued, outstanding.
E8.10. 1 Easy, 3-5 min. Good homework assignment.
E8.11. 2 Easy, 5-8 min. Straight-forward dividend calculations.
E8.12. 2 Easy, 5-8 min. See E8.11. Good in-class demonstration exercise.
E8.13. 2 Easy, 3-5 min. See E8.11.
E8.14. 2 Easy, 3-5 min. See E8.11.
E8.15. 3 Easy, 3-5 min. See Business in Practice—Dividend Dates.
E8.16. 3 Med., 10-15 min. Group learning problem—an opportunity to have students
use The Wall Street Journal to learn how to read stock
quotations.
E8.17. 3 Easy, 3-5 min. Good discussion starter for “dividend policy” issues.
E8.18. 3 Med., 7-10 min. See E8.17.
E8.19. 4 Easy, 5-8 min. See E8.17. Emphasize that stock dividend transactions do not
involve a third party (i.e., the transaction is between the
company and its stockholders—who, collectively, own the
company).
E8.20. 4 Med., 7-10 min. See E8.19. Good in-class demonstration or homework
exercise.
E8.21. 4 Easy, 3-5 min. Straight-forward.
E8.22. 4 Easy, 3-5 min. See E8.21.
P8.23. 1, 2 Med., 7-10 min. Straight-forward dividend calculations and entries.
P8.24. 1, 2 Med., 7-10 min. Good homework assignment.
P8.25. 6 Med., 7-10 min. Straight-forward treasury stock problem.
P8.26. 6 Med., 10-12 min. See P8.25.
P8.27. 1, 2, 4, 6 Med., 10-12 min. Potpourri—straight-forward journal entries problem.
P8.28. 1, 2, 4, 6 Med., 10-12 min. See P8.27. Good homework assignment.
P8.29. 1, 2, 4, 6 Med., 10-12 min. Excellent problem for self-study / review.
P8.30. 1, 2, 4, 6 Med., 10-12 min. See P8.29. Good homework assignment.
P8.31. 1, 2, 3, 6, 7 Hard, 25-35 min. Emphasize terminology and the structure of the stockholders’
equity section of the balance sheet.
P8.32. 1, 2, 3, 4, 6, 7 Hard, 25-35 min. Excel problem. See P8.31. Group learning problem.
C8.33. 1, 2, 5, 6, 8 Easy, 5-10 min. Focus company—basic review of note disclosures.
C8.34. 1, 2, 6, 7 Hard, 15-20 min. Excellent problem for self-study / review.
8-3
LEARNING DIFFICULTY & OTHER

NO. OBJECTIVES TIME ESTIMATE COMMENTS
C8.35. 1, 2, 4, 6, 8 Hard, 10-15 min. See C8.34. Group learning case.
C8.36. 1, 2, 4, 6, 9 Med-Hard, 30 min. or Capstone analytical review, Chapters 7-8. Capital lease,
more. preferred stock and bonds payable issues.
SOLUTIONS:
Matching I Matching II
1. i 6. p 1. j 6. g
2. j 7. r 2. b 7. l
3. h 8. b 3. f 8. p
4. f 9. q 4. d 9. e
5. m 10. c 5. h 10. i
Multiple Choice
1. d 6. d
2. e 7. c
3. c 8. b
4. c 9. b
5. c 10. b
Multiple Choice Annotations:
5. Beginning retained earnings $23,000

+ Net income ?
- Dividends (3,000)
Ending retained earnings $31,000
Solving for the missing amount, net income = $11,000
6. Stock dividends result in the capitalization of retained earnings, but no entry is recorded for a
stock split.
7. Interest is a tax deductible expense because it represents a necessary payment to others for the
use of their money—thus, it is a “cost” of doing business. Dividends are a distribution of
profits to the owners/stockholders of the firm, and represent a partial liquidation of the firm.
Dividends are not tax deductible because they are not a “cost” of doing business.
9. $150 * .08 = $12.00. Preferred stock dividends are based on the par value per share multiplied
by the dividend rate specified in the preferred stock agreement--without respect to how much
the shares were issued for.
8-4
M8.1.
Balance Sheet Income Statement .
Assets = Liabilities + Stockholders’ Equity  Net income = Revenues - Expenses
a. January 1, 2013 to record stock issuance:
Cash Common Stock
+ 3,150,000 + 210,000
Additional
Paid-In Capital
+ 2,940,000
b. December 31, 2013 to record the declaration of dividends:

Dividends Retained
Payable Earnings
+ 840,000 - 840,000
c. February 7, 2014 to record the payment of dividends:

Cash Dividends
- 840,000 Payable
- 840,000
a. January 1, 2013:
Dr. Cash (210,000 shares @ $15) .... ........... ........... ........... ........... 3,150,000
Cr. Common Stock (210,000 shares @ $1 per share) ... ........... 210,000
Cr. Additional Paid-In Capital (210,000 @ $14)........... ........... 2,940,000
To record stock issuance.
b. December 31, 2013:

Dr. Retained Earnings .......... ........... ........... ........... ........... ........... 840,000
Cr. Dividends Payable ... ........... ........... ........... ........... ........... 840,000
To record the declaration of dividends.
c. February 7, 2014:
Dr. Dividends Payable ......... ........... ........... ........... ........... ........... 840,000
Cr. Cash . ........... ........... ........... ........... ........... ........... ........... 840,000
To record the payment of dividends.
M8.2.
Preferred dividends for 2012, 2013, and 2014 would have to be paid before a dividend on
the common stock could be paid.
Annual dividend = 7.5% * $100 per share * 125,000 shares = $937,500
Dividends for 3 years = 3 * $937,500 = $2,812,500
8-5
M8.3.
a. A 5-for-1 split means that for every share now owned, the stockholder will own 5 shares.
Thus, I will own 1,200 shares * 5 = 6,000 shares.
b. Because there are now 5 times as many shares of stock outstanding, and the financial
condition of the company hasn't changed, the market price per share should be one-fifth
(1/5) of what it was, or $70 / 5 = $14 per share. The total market value of my
investment will not have changed.
c. The par value per share is also likely to be divided by 5 (i.e., from $10 to $2), but this
does not happen automatically—any changes in par value per share require action by the
board of directors.
M8.4.
a. Balance Sheet Income Statement .
April 10, 2013 to record the purchase of 500 shares of treasury stock @ $24 per share:
Cash Treasury Stock
- 12,000 - 12,000
b. September 28, 2013 to record the sale of 300 shares of treasury stock @ $27 per share:
Cash Treasury Stock
+ 8,100 + 7,200
Additional
Paid-in Capital
+ 900
a. April 10, 2013:

Dr. Treasury Stock ... ........... ........... ........... ........... ........... ........... 12,000
Cr. Cash . ........... ........... ........... ........... ........... ........... ........... 12,000
To record the purchase of 500 shares of treasury stock @ $24 per share.
b. September 28, 2013:

Dr. Cash (300 shares @ $27) ........... ........... ........... ........... ........... 8,100
Cr. Treasury Stock (300 shares @ $24) . ........... ........... ........... 7,200
Cr. Additional Paid-In Capital (300 shares @ $3)......... ........... 900
To record the sale of 300 shares of treasury stock @ $27 per share.
8-6
E8.5.
A = L + PIC + RE
Beginning……..$ (4) $ (3) (1) (2) $520,000 SE
Changes……….+260,000 +21,000 +40,000 + (7) Net income
-55,000 Dividends
Ending………... (5) = $234,000 + $175,000 + (6) .
Steps: Short-cut approach:

1. $175,000 - $40,000 = $135,000 $260,000 = + $21,000 + $40,000
2. $520,000 - $135,000 = $385,000 + Net income - $55,000
3. $234,000 - $21,000 = $213,000
4. $213,000 + $520,000 = $733,000 Net income = $254,000
5. $733,000 + $260,000 = $993,000
6. $993,000 - $234,000 - $175,000 = $584,000
7. $385,000 + Net income - $55,000 = $584,000
Net income = $254,000
E8.6.
A = L + PIC +RE
Beginning …… $ (5) $438,000 (4) (6)
Changes……… +154,000 -72,000 +20,000 + (7) Net income
-124,000 Dividends
Ending………. (3) = (2) + $380,000 + (1) $379,000 SE
Steps: Short-cut approach:

1. $758,000 - $380,000 = $378,000 154,000 = - $72,000 + $20,000
2. $438,000 - $72,000 = $366,000 + Net income - $124,000
3. $366,000 + $758,000 = $1,124,000
4. $380,000 - $20,000 = $360,000 Net income = $330,000
5. $1,124,000 - $154,000 = $970,000
6. $970,000 - $438,000 - $360,000 = $172,000
7. $172,000 + Net income - $124,000 = $378,000
Net income = $330,000
E8.7.
Retained earnings, December 31, 2013 ......... ........... ........... ........... ........... $346,400
Add: Net income for the year ........... ........... ........... ........... ........... ........... 56,900
Less: Dividends for the year .. ........... ........... ........... ........... ........... ........... (32,500)
Retained earnings, December 31, 2014 ......... ........... ........... ........... ........... $370,800
8-7
E8.8.
Prepare the retained earnings portion of a statement of changes in stockholders’ equity for
the year ended December 31, 2013:
Retained earnings, December 31, 2013 ......... ........... ........... ........... $ ?

Less: Net loss for the year..... ........... ........... ........... ........... ........... (23,000)
Less: Dividends for the year .. ........... ........... ........... ........... ........... (33,600)
Retained earnings, December 31, 2014 ......... ........... ........... ........... $245,200
Solving for the unknown amount, retained earnings at December 31, 2013 was $301,800.
E8.9.
a. Balance sheet amount equals number of shares issued * par value.
1,400,000 shares * $5 = $7,000,000
b. Cash dividends are paid on shares outstanding.

1,250,000 shares * $0.15 = $187,500
c. Treasury stock accounts for the difference between shares issued and shares outstanding.
E8.10.
a. Average price at which shares issued = Balance sheet amount / Number of shares issued
= $2,600,000 / 200,000 = $13 per share
b. Common stock at stated value of $1.00 per share;

1,000,000 shares authorized, 200,000 issued and
180,000 shares outstanding . ........... ........... ........... ........... ........... $ 200,000
Additional paid-in capital ... ........... ........... ........... ........... ........... 2,400,000
Total paid-in capital ........... ........... ........... ........... ........... ........... $2,600,000
c. Total dividend = Rate per share * Number of shares outstanding

= $0.60 * 180,000 = $108,000
d. Treasury stock accounts for the difference between shares issued and shares outstanding.
E8.11.
a. Number of shares issued ....... ........... ........... ........... ........... ........... 161,522
Less: Number of shares in treasury.... ........... ........... ........... ........... (43,373)
Number of shares outstanding ........... ........... ........... ........... ........... 118,149
Dividend requirement per share ......... ........... ........... ........... ........... * $3.75
Total annual dividends required to be paid .... ........... ........... ........... $443,058.75
8-8
E8.11. (continued)
b. Dividend per share (6% * $40 par value) ...... ........... ........... ........... $2.40
Total annual dividends required to be paid .... ........... ........... ........... $176,690.40
c. Dividend per share (11.4% * $100 stated value) ....... ........... ........... $11.40
Total annual dividends required to be paid .... ........... ........... ........... $428,640
E8.12.
a. Annual dividend = Dividend rate * par value * number of shares outstanding
= 7% * $50 * 40,000 = $140,000
Semi-annual dividend = annual dividend / 2 = $140,000 / 2 = $70,000
b. Annual dividend = Dividend rate * number of shares outstanding

= $4.20 * 137,400 = $577,080
Arrears of $577,080 are owed for last year as well, so the total dividends owed would be:
$577,080 * 2 years = $1,154,160
c. Annual dividend = Dividend rate * stated value * number of shares outstanding

= 9.5% * $100 * 108,000 = $1,026,000
Quarterly dividend = annual dividend / 4 = $1,026,000 /4 = $256,500
E8.13.
Preferred dividends for 2012, 2013, and 2014 would have to be paid before a dividend on
the common stock could be paid. Annual dividend = $6.50 * 22,000 shares = $143,000
Dividends for 3 years = 3 * $143,000 = $429,000
E8.14.
a. Annual dividend per share = Dividend rate * par value = 7.5% * $50 = $3.75
b. Preferred dividends for 2012 and 2013 must be paid first because the preferred stock is
cumulative. The 2014 preferred dividend must also be paid before dividends can be paid
on common stock.
Preferred dividends = $3.75 * 3 years * 700 shares = $7,875
Common dividends = $0.40 * 8,000 shares = $3,200
Total dividends received = $7,875 + $3,200 = $11,075
8-9
E8.15.
a. February 21 is the declaration date. Because this is a regular dividend of the same
amount as prior dividends, the stock price would not be significantly affected.
b. March 13 is the ex-dividend date. On this date the market price of the stock is likely to
fall by the amount of the dividend because purchasers will not receive the dividend.
c. March 15 is the record date. The market price of the stock should not be affected because
for a publicly traded stock it is the ex-dividend date that affects who receives the
dividend.
d. March 30 is the payment date. The market price of the stock should not be affected
because the corporation is merely paying a liability (dividends payable).
E8.16.
All other things being equal, one would expect the market price of the stock to fall by the
amount of the dividend on the ex-dividend date. This is because the seller will be the
owner of record and will receive the dividend from the company.
E8.17.
To declare a dividend, the firm must have retained earnings and enough cash to pay the
dividend. Of course, the board of directors must approve a dividend.
E8.18.
a. Quarterly. See the quarterly financial information on page 72 in Campbell’s 2011 annual
report.
b. Dividends declared and paid increased rather consistently over the 5-year period from
$0.80 per share in 2007 to $1.145 in 2011.
Basic earnings per share (EPS) based on net earnings attributable to Campbell Soup
Company have not shown a consistent trend over the 5-year period (from $2.18 in 2007
up to $3.06 in 2008, then down to $2.06 in 2009 and up to $2.44 in both 2010 and 2011).
Dividends per share (DPS) have become more significant in recent years relative to
earnings per share, and this was particularly true in 2009 when earnings fell significantly
but the company honored its pre-announced dividend plans. DPS of $0.80 in 2007 was
37% of 2007 Basic EPS, while DPS of $1.145 in 2011 was 47% of 2011 Basic EPS.
Campbell’s dividend policy has been to gradually increase DPS in recent years. This
sends a clear message that management and the board of directors feel confident in the
company’s ability to sustain its earnings growth in the foreseeable future. An overly
aggressive dividends policy runs the risk of reducing the availability of funds for the
company’s expansion and capital development needs. Thus, it is likely that Campbell’s
will continue to follow its modest dividend growth rate in the upcoming years.
8-10
E8.18. (continued)
c. 2007 2008 2009 2010 2011
Dividends per share ... ........... ........... $0.80 $0.88 $1.00 $1.075 $1.145
Increase (decrease) from prior year ... 0.08 0.12 0.075 0.07
Percentage increase .... ........... ........... 10% 13.6% 7.5% 6.5%
E8.19.
If the company can reinvest retained earnings at a higher ROI than I could earn on the
money paid to me in dividends, I would prefer that the company not pay a cash dividend
(Apple, Inc. is a perfect example). If I needed current income from my investment, I
would want cash dividends. As a common stock investor, I don't really care whether or
not the company issues a stock dividend, because a stock dividend doesn't change my
equity in the company, the total market value of my investment, or the company's ability
to earn a return on my investment.
E8.20.
a. 4,000 shares * 5% dividend = 200 dividend shares
b. $0.84 / 1.05 = $0.80

Proof: Total dividend on 4,000 shares @ $0.84 = $3,360
Total dividend on 4,200 shares @ $0.80 = $3,360
c. Total dividend on 4,200 shares @ $0.84 = $3,528

Total dividend $3,528 / 4,000 shares = $0.882 per share
d. This dividend policy would result in greater total cash dividends every year without
changing the cash dividend per share.
E8.21.
a. A 2-for-1 split means that for every share now owned, the stockholder will own 2 shares.
Thus, I will own 1,000 shares.
b. Because there are now twice as many shares of stock outstanding, and the financial
condition of the company hasn't changed, the market price per share should be half of
what it was, or $20 per share. The total market value of my investment will not have
changed.
c. The par value per share is also likely to be split in half (i.e., from $10 to $5), but this does
not happen automatically—any changes in par value per share require action by the board
of directors.
8-11
E8.22.
a. 500 shares * 3/2 = 750 shares after the stock split
b. Dividend income before the stock split = $6 * 500 shares = $3,000

$3,000 / 750 shares = $4 dividend per share
c. A 50% stock dividend would accomplish the same result.
P8.23.
1. January 1, 2013 to record stock issuances:
Cash Common Stock
+ 10,170,000 + 2,850,000
Preferred Stock
+ 6,000,000
Additional
Paid-In Capital
+ 1,320,000
2. December 28, 2014 to record the declaration of dividends:

Dividends Retained
Payable Earnings
+ 1,800,000 - 1,800,000
3. February 12, 2015 to record the payment of dividends:

Cash Dividends
- 1,800,000 Payable
- 1,800,000
1. January 1, 2013:
Dr. Cash ((150,000 @ $19) + (60,000 @ $122)).... ........... ........... 10,170,000
Cr. Common Stock (150,000 shares @ $19 per share).. ........... 2,850,000
Cr. Preferred Stock (60,000 shares @ $100 per share).. ........... 6,000,000
Cr. Additional Paid-In Capital--Preferred (60,000 @ $22) ..... 1,320,000
To record stock issuances.
2. December 28, 2014:

Dr. Retained Earnings .......... ........... ........... ........... ........... ........... 1,800,000
Cr. Dividends Payable ... ........... ........... ........... ........... ........... 1,800,000
3. February 12, 2015:

Dr. Dividends Payable ......... ........... ........... ........... ........... ........... 1,800,000
Cr. Cash . ........... ........... ........... ........... ........... ........... ........... 1,800,000
8-12
P8.23. (continued)
b. Preferred shareholders are entitled to one year of dividends in arrears (for 2013), as well as
their current year preference (for 2014). 60,000 shares * $100 par per share * 9.5% =
$570,000 per year * 2 years = $1,140,000
P8.24.
1. January 1, 2013 to record stock issuances:
Cash Common Stock
+ 110,950,000 + 43,750,000
Preferred Stock
+ 64,000,000
Additional
Paid-In Capital
+ 3,200,000
2. December 17, 2015 to record the declaration of dividends:

Dividends Retained
Payable Earnings
+ 42,300,000 - 42,300,000
3. February 9, 2016 to record the payment of dividends:

Cash Dividends
- 42,300,000 Payable
- 42,300,000
1. January 1, 2013:
Dr. Cash ((1,250,000 @ $35) + (640,000 @ $105))........... ........... 110,950,000
Cr. Common Stock (1,250,000 shares @ $35 per share)........... 43,750,000
Cr. Preferred Stock (640,000 shares @ $100 per share) ........... 64,000,000
Cr. Additional Paid-In Capital--Preferred (640,000 @ $5) ..... 3,200,000
To record stock issuances.
2. December 17, 2015:

Dr. Retained Earnings .......... ........... ........... ........... ........... ........... 42,300,000
Cr. Dividends Payable ... ........... ........... ........... ........... ........... 42,300,000
3. February 9, 2016:
Dr. Dividends Payable ......... ........... ........... ........... ........... ........... 42,300,000
Cr. Cash . ........... ........... ........... ........... ........... ........... ........... 42,300,000
8-13
P8.24. (continued)
b. Preferred shareholders are entitled to two years of dividends in arrears (for 2013 and 2014),
as well as their current year preference (for 2015).
640,000 shares * $100 par per share * 8.5% = $5,440,000 per year * 3 years = $16,320,000
P8.25.
May 4, 2013 to record the purchase of 800 shares of treasury stock @ $18.25 per share:
Cash Treasury Stock
- 14,600 - 14,600
b. June 15, 2013 to record the declaration and payment of a cash dividend:
Cash Retained
- 12,390 Earnings
- 12,390
c. September 19, 2013 to record the sale of 600 shares of treasury stock @ $19.50 per share:
Cash Treasury Stock
+ 11,700 + 10,950
Additional
Paid-in Capital
+ 750
a. May 4, 2013:
Cr. Cash . ........... ........... ........... ........... ........... ........... ........... 14,600
To record the purchase of 800 shares of treasury stock @ $18.25 per share.
b. June 15, 2013:

Dr. Retained Earnings (36,200 - 800 = 35,400 shares * $0.35) ..... 12,390
Cr. Cash . ........... ........... ........... ........... ........... ........... ........... 12,390
To record the declaration and payment of a cash dividend.
c. September 19, 2013:

Dr. Cash (600 shares @ $19.50) ...... ........... ........... ........... ........... 11,700
Cr. Treasury Stock (600 shares @ $18.25) ........ ........... ........... 10,950
Cr. Additional Paid-In Capital (600 shares @ $1.25) .... ........... 750
To record the sale of 600 shares of treasury stock @ $19.50 per share.
8-14
P8.26.
Cash Treasury Stock
-332,800 -332,800
Cr. Cash ........... ........... ........... ........... ........... ........... ........... 332,800
To record the purchase of 5,200 shares of treasury stock @ $64 per share.
b. Shares outstanding at beginning of year ........ ........... ........... ........... 622,100

Shares purchased for treasury in first quarter ........... ........... ........... (5,200)
Shares outstanding during second quarter ..... ........... ........... ........... 616,900
Cash dividend per share ......... ........... ........... ........... ........... ........... * $2.10
Dividend paid at end of second quarter ......... ........... ........... ........... $1,295,490
c. Balance Sheet Income Statement .

Cash Treasury Stock
+ 144,400 + 121,600
Additional
Paid-In Capital
+ 22,800
Dr. Cash (1,900 shares @ $76) ........ ........... ........... ........... ........... 144,400
Cr. Treasury Stock (1,900 shares @ $64) .......... ........... ........... 121,600
Cr. Additional Paid-In Capital (1,900 shares @ $12) .... ........... 22,800
To record the sale of 1,900 shares of treasury stock @ $76 per share.
d. Shares outstanding during second quarter ..... ........... ........... ........... ........... 616,900
Treasury shares sold during third quarter ...... ........... ........... ........... ........... 1,900
Shares outstanding during fourth quarter....... ........... ........... ........... ........... 618,800
Cash dividend per share ......... ........... ........... ........... ........... ........... ........... * $2.10
Dividend paid at end of fourth quarter........... ........... ........... ........... ........... $1,299,480
e. Stock dividend = (3% * 622,100 shares issued) = 18,663 stock dividend shares
P8.27.
Other Paid-in Retained Treasury Net
Cash Assets
Liabilities Capital Earnings Stock * Income
a. +205,000 +205,000
b. +18,450 -18,450
c. -35,100 +35,100
d. +113,000 +113,000
e. +17,400 +1,200 -16,200
f. No entry is required for a stock split.
8-15
P8.27. (continued)
* Note that an increase in treasury stock (for a purchase transaction such as item c) decreases
total stockholders’ equity, and a decrease in treasury stock (for a sale transaction such as item e)
increases total stockholders’ equity. The effects shown are with respect to the Treasury Stock
account, which is a contra stockholders’ equity account.
a. Dr. Cash ($50 par * 4,100 shares) ... ........... ........... ........... ........... 205,000
Cr. Preferred Stock ....... ........... ........... ........... ........... ........... 205,000
b. Dr. Retained Earnings ($50 par * 9% * 4,100 shares) ......... ........... 18,450
c. Dr. Treasury Stock ($54 per share * 650 shares) ..... ........... ........... 35,100
Cr. Cash . ........... ........... ........... ........... ........... ........... ........... 35,100
d. Dr. Land (market value)....... ........... ........... ........... ........... ........... 113,000
Cr. Common Stock ($1 par * 2,000 shares) ....... ........... ........... 2,000
Cr. Additional Paid-In Capital (excess over par) ........... ........... 111,000
e. Dr. Cash ($58 per share * 300 shares) ......... ........... ........... ........... 17,400
Cr. Treasury Stock ($54 per share * 300 shares) ........... ........... 16,200
Cr. Additional Paid-In Capital ($4 excess * 300 shares) ........... 1,200
f. No entry is required for a stock split.
P8.28.
Cash Assets Liabilities Capital Earnings Stock * Income
a. +89,250 +89,250
b. +38,130 -38,130
c. +135,000 +135,000
d. -39,200 +39,200
e. +14,250 +250 -14,000
f. +50,220 -50,220
* Note that an increase in treasury stock (for a purchase transaction such as item d) decreases
a. Dr. Cash ($52.50 * 1,700 shares)..... ........... ........... ........... ........... 89,250
Cr. Preferred Stock ($50 par * 1,700 shares) ..... ........... ........... 85,000
Cr. Additional Paid-In Capital ($2.50 excess * 1,700 shares) ... 4,250
b. Dr. Retained Earnings ($4.10 per share * 9,300 shares)...... ........... 38,130
8-16
P8.28. (continued)
c. Dr. Building ($54 per share * 2,500 shares) ........... ........... ........... 135,000
Cr. Preferred Stock ($50 per share * 2,500 shares) ....... ........... 125,000
Cr. Additional Paid-In Capital ($4 excess * 2,500 shares) ........ 10,000
d. Dr. Treasury Stock ($56 per share * 700 shares) ..... ........... ........... 39,200
Cr. Cash . ........... ........... ........... ........... ........... ........... ........... 39,200
e. Dr. Cash ($57 per share * 250 shares) ......... ........... ........... ........... 14,250
Cr. Additional Paid-In Capital ($1 excess * 250 shares) ........... 250
f. Dr. Retained Earnings ($36 per share * 9,300 issued * 15%) ......... 50,220
Cr. Common Stock ($1 par * 1,395 dividend shares) .... ........... 1,395
Cr. Additional Paid-In Capital ($35 excess * 1,395 shares) ...... 48,825
P8.29.
Cash Assets
Liabilities Capital Earnings Stock * Income
a. + 90,000 + 90,000
b. + 40,000 + 40,000
c. - 3,200 - 3,200
d. - 4,750 + 4,750
e. + 6,713 - 6,713
f. + 2,600 + 130 - 2,470
g. + 28,350 - 28,350
h. No entry is required for a stock split.
total stockholders’ equity, and a decrease in treasury stock (for a sale transaction such as item f)
a. Dr. Cash ....... ........... ........... ........... ........... ........... ........... ........... 90,000
Cr. Common Stock ($1 per share * 5,000 shares) ......... ........... 5,000
Cr. Additional Paid-In Capital ($17 per share * 5,000 shares) .. 85,000
b. Dr. Land and Building ........ ........... ........... ........... ........... ........... 40,000
Cr. Preferred Stock ($40 per share * 1,000 shares) ....... ........... 40,000
c. Dr. Retained Earnings ($40 per share * 8% * 1,000 shares) ........... 3,200
Cr. Cash . ........... ........... ........... ........... ........... ........... ........... 3,200
8-17
P8.29. (continued)
d. Dr. Treasury Stock ($4,750 / 250 shares = $19 per share) .. ........... 4,750
Cr. Cash . ........... ........... ........... ........... ........... ........... ........... 4,750
e. Dr. Retained Earnings (40,000 + 5,000 - 250 = 44,750 shares) ..... 6,713
Cr. Dividends Payable ($0.15 per share * 44,750 shares outstanding) 6,713
f. Dr. Cash ($20 per share * 130 shares) ......... ........... ........... ........... 2,600
Cr. Additional Paid-In Capital ($1 per share * 130 shares) ....... 130
g. Dr. Retained Earnings (45,000 shares issued * 3% = 1,350) .......... 28,350

Cr. Common Stock ($1 per share * 1,350 dividend shares) ...... 1,350
Cr. Additional Paid-In Capital ($20 per share * 1,350 per share) 27,000
h. No entry is required for stock split.
P8.30.
Cash Assets Liabilities Capital Earnings Stock * Income
a. + 300,000 + 300,000
b. + 612,000 + 612,000
c. + 816,000 + 816,000
d. - 378,000 + 378,000
e. + 261,000 + 18,000 - 243,000
f. + 27,300 - 27,300
g. + 122,400 - 122,400
a. Dr. Cash ....... ........... ........... ........... ........... ........... ........... ........... 300,000
Cr. Preferred Stock ($100 per share * 3,000 shares) ..... ........... 300,000
b. Dr. Land ...... ........... ........... ........... ........... ........... ........... ........... 612,000
Cr. Preferred Stock ($100 per share * 4,800 shares) ..... ........... 480,000
Cr. Additional Paid-In Capital ($27.50 per share * 4,800 shares) 132,000
c. Dr. Cash ($24 per share * 34,000 shares) .... ........... ........... ........... 816,000
Cr. Common Stock ($5 per share * 34,000 shares) ....... ........... 170,000
Cr. Additional Paid-In Capital ($19 per share * 34,000 shares) 646,000
d. Dr. Treasury Stock ($27 per share * 14,000 shares) ........... ........... 378,000
Cr. Cash . ........... ........... ........... ........... ........... ........... ........... 378,000
8-18
P8.30. (continued)
e. Dr. Cash ($29 per share * 9,000 shares) ...... ........... ........... ........... 261,000
Cr. Treasury Stock ($27 per share * 9,000 shares) ........ ........... 243,000
Cr. Additional Paid-In Capital ($2 per share * 9,000 shares) .... 18,000
f. Dr. Retained Earnings (3,000 + 4,800 = 7,800 * $3.50 per share) .. 27,300
g. Dr. Retained Earnings (34,000 shares issued * 12% = 4,080) ........ 122,400
Cr. Common Stock ($5 per share * 4,080 dividend shares) ...... 20,400
Cr. Additional Paid-In Capital ($25 per share * 4,080 shares) .. 102,000
P8.31.
a. Annual dividend per share (12% * $60) ........ ........... ........... ........... $ 7.20
Annual dividend requirement ........... ........... ........... ........... ........... $10,800
b. Balance sheet amount = ($60 par value * 1,500 shares issued) = $90,000
c. Number shares issued = ($240,000 balance sheet amount / $8 par value) = 30,000
Number shares outstanding = (30,000 shares issued - 2,000 treasury shares) = 28,000
d. Additional
Common Stock Paid-in Capital
November 30, 2013.... ........... ........... ........... ........... $240,000 $540,000
January 1, 2013 .......... ........... ........... ........... ........... (210,000) (468,750)
Increase .......... ........... ........... ........... ........... ........... $ 30,000 $ 71,250
Number of shares sold = ($30,000 increase in common stock / $8 par value) = 3,750
Selling price per share = (($30,000 increase in common stock + $71,250 increase in
additional paid-in capital) / 3,750 shares sold) = $27 per share
e. Treasury stock was resold at a price greater than its cost.
f. Retained earnings, January 1, 2013 ... ........... ........... ........... ........... $90,300
Add: Net income ........ ........... ........... ........... ........... ........... ........... 24,000
Less: Preferred stock dividends (see answer to part a) ......... ........... (10,800)
Less: Common stock dividends ......... ........... ........... ........... ........... ? .
Retained earnings, November 30, 2013 ......... ........... ........... ........... $97,000
Solving for the unknown amount, common stock dividends = $6,500
8-19
P8.32.
a. Common stock = ($5 par value * 300,000 shares issued) = $1,500,000
b. Price per share = Increase in paid-in capital / Number of shares issued.

Increase in common stock ($1,500,000 - $1,350,000)........... ........... ........... $ 150,000
Increase in additional paid-in capital .($12,990,000 - $11,610,000) . ........... 1,380,000
Total increase in paid-in capital ......... ........... ........... ........... ........... ........... $1,530,000
/ Number of shares issued in May .... ........... ........... ........... ........... ........... 30,000
= Price per share of shares sold in May ........ ........... ........... ........... ........... $51
c. Increase in cost of treasury stock ($2,202,000 - $2,074,000) ........... ........... $128,000

/ Increase in number of shares of treasury stock (36,000 – 34,000) . ........... 2,000
= Cost per share ........ ........... ........... ........... ........... ........... ........... ........... $64
d. Retained earnings, April 30, 2013 ..... ........... ........... ........... ........... ........... $17,320,000
Add: Net income ....... ........... ........... ........... ........... ........... ........... ........... ?
Less: Preferred stock dividend (1/2 year * 9% * $120 par * 70,000 share) ……… (378,000)
Retained earnings, May 31, 2013 ...... ........... ........... ........... ........... ........... $18,100,000
Solving for the unknown amount, net income = $1,158,000
e. 1. Shares outstanding = (300,000 shares issued - 36,000 treasury shares) = 264,000

Total cash dividend = ($0.30 dividend per share * 264,000 outstanding) = $79,200
2. The June 30, 2013, balance sheet will reflect a reduction in retained earnings and an
increase in dividends payable (a current liability) for the same amount. Dividends declared
have no effect on the income statement.
8-20
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IX
LE ROI SOUDARD
Quand vous entrez en campagne,

Louche orfraie au fatal vol,
On ferait honte à l’Espagne
De vous nommer espagnol.
Sire, on se bat dans les plaines,

Sire, on se bat dans les monts;
Les campagnes semblent pleines
D’archanges et de démons.
On se bat dans les provinces;

Et ce choc de boucliers
Va de vous, les petits princes,
A nous, les grands chevaliers.
Les rocs ont des citadelles

Et les villes ont des tours
Où volent à tire-d’ailes
Les aigles et les vautours.
La guerre est le cri du reître,

Du vaillant et du maraud,
Un jeu d’en bas et peut-être
Un jugement de là-haut;
La guerre, cette aventure

Sur qui plane le corbeau,
Se résout en nourriture
Pour les bêtes du tombeau;
Le chacal se désaltère
A tous ces sanglants hasards;
Et c’est pour les vers de terre
Que travaillent les césars;
Les camps sont de belles choses;

Mais l’homme loyal ne croit
Qu’à la justice des causes
Et qu’à la bonté du droit.
Car la guerre est folle et rude.

Pour la faire honnêtement
Il faut une certitude
Prise dans le firmament.
Je remarque en mes tristesses

Que la gloire aux durs sentiers
Ne connaît pas les altesses
Et s’en passe volontiers.
Un soldat vêtu de serge

Est parfois son favori;
Et l’épée est une vierge
Qui veut choisir son mari.
Roi, les guerres que vous faites

Sont les guerres d’un félon
Qui souffle dans des trompettes
Avec un bruit d’aquilon;
Qui, ne risquant son panache

Qu’à demi dans les brouillards,
S’il voit des hommes se cache,
Et vient s’il voit des vieillards;
Qui se croyant Alexandre

Qui, se croyant Alexandre,
Ne laisse dans les maisons
Que des os dans de la cendre
Et du sang sur des tisons;
Et qui, riant sous les portes,

Vous montre, quand vous entrez,
Sur des tas de femmes mortes
Des tas d’enfants éventrés.
X
LE ROI COUARD
Roi, dans tes courses damnées,

Avec tes soldats nouveaux,
Ne va pas aux Pyrénées,
Ne va pas à Roncevaux.
Ces roches sont des aïeules,

Les mères des océans.
Elles se défendraient seules;
Car ces monts sont des géants.
Une forte race d’hommes,

Pleins de l’âpreté du lieu,
Vit là loin de vos sodomes
Avec les chênes de Dieu.
Y passer est téméraire.

Nul encor n’a deviné
Si le chêne est le grand frère
Ou bien si l’homme est l’aîné.
Ce peuple est là, loin du monde,

Libre hier, libre demain.
Sur ces hommes l’éclair gronde;
Leur chien leur lèche la main.
Hercule y vint. Tout recule

Dans ces monts où fuit l’isard.
Roi, César après Hercule,
Charlemagne après César,
Ont crié miséricorde
Devant ces pâtres jaloux
Chaussés de souliers de corde
Et vêtus de peaux de loups.
Dieu, caché sous leur feuillage,

Prit ce noir pays vaillant
Pour faire naître Pélage,
Pour faire mourir Roland.
Si jamais, dans ces repaires,

Risquant tes hautains défis,
Tu venais voir si les pères
Vivent encor dans les fils,
Eusses-tu vingt mille piques,

Eusses-tu, roi fanfaron,
Tes bannières, tes musiques,
Tout ton bruit de moucheron,
Pour que tu t’en ailles vite,

Fussent-ils un contre cent,
Et pour qu’on te voie en fuite;
De mont en mont bondissant,
Comme on voit des rocs descendre

Les torrents en février,
Il te suffirait d’entendre
La trompe d’un chevrier.
XI
LE ROI MOQUEUR
Quand, barbe grise, je parle

Du saint pays montagnard
Et du grand empereur Charle
Et du grand bâtard Bernard,
Et d’Hercule et de Pélage,
Roi Sanche, tu me crois fou;
Tu prends ces fiertés de l’âge
Pour la rouille d’un vieux clou.
Mais ton vain rire farouche,

Roi, n’est pas une raison
Qui puisse fermer la bouche
A quelqu’un dans ma maison;
C’est pourquoi je continue,

Te saluant du drapeau,
Et te parlant tête nue
Quand tu gardes ton chapeau.
XII
LE ROI MÉCHANT
J’ai, dans Albe et dans Girone,

Vu l’honnête homme flétri,
Et des gens dignes d’un trône
Qu’on liait au pilori;
J’ai vu, c’est mon amertume,

Tes bourreaux abattre, ô roi,
Des fronts qu’on avait coutume
De saluer plus que toi.
Rois, Dieu fait croître où nous sommes,

Dans ce monde de péchés,
Une herbe de têtes d’hommes,
Et c’est vous qui la fauchez.
Ah! nos maîtres, quand vous n’êtes,

Avec vos vils compagnons,
Occupés que de sornettes,
Nous pleurons et nous saignons.
Roi, cela fendrait des pierres

Et toucherait des voleurs
Que de si fermes paupières
Versent de si sombres pleurs!
Sous toi l’Espagne est mal sûre

Et tremble, et finit par voir,
Roi, que ta main lui mesure
Trop d’aunes de crêpe noir.
J’ai reconnu, car vous êtes
Le sinistre et l’inhumain,
Des amis dans des squelettes
Qui pendaient sur le chemin.
J’ai, dans les forêts prochaines,

Vu le travail des bourreaux,
Et la tristesse des chênes
Pliant au poids des héros.
J’ai vu râler sous des porches

De vieux corps désespérés.
Roi, de lances et de torches
Ces pays sont effarés.
J’ai vu des ducs et des comtes

S’agenouiller au billot.
Tu ne nous dois pas de comptes,
Cœur trop bas et front trop haut!
Roi, le sang qu’un roi pygmée

Verse à flots par ses valets
Fait une sombre fumée
Sur les dalles des palais.
O roi des noires sentences,

Un vol de corbeaux te suit,
Tant les chaînes des potences
Dans ton règne font de bruit!
Vous avez fouetté des femmes

Dans Vich et dans Alcala,
Ce sont des choses infâmes
Que vous avez faites là!
Tu n’es qu’un méchant en somme

Tu n es qu un méchant, en somme.
Mais je te sers, c’est la loi;
La difformité de l’homme
N’étant pas comptée au roi.
XIII
LE CID FIDÈLE
Princes, on voit souvent croître

Des gueux entre les pavés
Qui font de vous dans un cloître
Des moines aux yeux crevés.
Je ne suis pas de ces traîtres;

Je suis muré dans ma foi,
Les grands spectres des ancêtres
Sont toujours autour de moi,
Comme on a, dans les campagnes

Où rit la verte saison,
Une chaîne de montagnes
Qui ferme l’âpre horizon.
Il n’est pas de cœurs obliques

Voués aux vils intérêts
Dans nos vieilles républiques
De torrents et de forêts.
Le traître est pire qu’un more;

De son souffle il craint le bruit;
Il met un masque d’aurore
Sur un visage de nuit;
Rouge aujourd’hui comme braise,

Noir hier comme charbon.
Roi, moi je respire à l’aise;
Et quand je parle, c’est bon.
Roi, je suis un homme probe
De l’antique probité.
Chimène recoud ma robe,
Mais non pas ma loyauté.
Je sonne à l’ancienne mode

La cloche de mon beffroi.
Je trouve même incommode
D’avoir des fourbes chez moi.
Sous cette fange, avarice,

Vol, débauche, trahison,
Je ne veux pas qu’on pourrisse
Le plancher de ma maison.
Reconnais à mes paroles

Le Cid aimé des meilleurs,
A qui les pâtres d’Éroles
Donnent des chapeaux de fleurs.
XIV
LE CID HONNÊTE
Donc, sois tranquille, roi Sanche.

Tu n’as rien à craindre ici.
La vieille âme est toute blanche
Dans le vieux soldat noirci.
Grondant, je te sers encore.

Dieu, m’a donné pour emploi,
Sire, de courber le more
Et de redresser le roi.
Étant durs pour vous, nous sommes

Doux pour le peuple aux abois,
Nous autres les gentilshommes
Des bruyères et des bois.
Personne sur nous ne marche.

Il suffit de oui, de non,
Pour rompre à nos ponts une arche,
A notre chaîne un chaînon.
Loin de vos palais infâmes

Pleins de gens aux vils discours,
La fierté pousse en nos âmes
Comme l’herbe dans nos cours.
Les vieillards ont des licences,

Seigneur, et ce sont nos mœurs
De rudoyer les puissances
Dans nos mauvaises humeurs.
Le Cid est, suivant l’usage,
Droit, sévère et raisonneur
Peut-être n’est-ce point sage,
Mais c’est honnête, seigneur.
Pour avoir ce qu’il désire

Le flatteur baise ton pied.
Nous disons ce qu’il faut, sire,
Et nous faisons ce qui sied.
Nous vivons aux solitudes

Où tout croît dans les sentiers,
Excepté les habitudes
Des valets et des portiers.
Nous fauchons nos foins, nos seigles,

Et nos blés aux flancs des monts;
Nous entendons des cris d’aigles
Et nous nous y conformons.
Nous savons ce que vous faites,

Sire, et, loin de son lever,
De ses gibets, de ses fêtes,
Le prince nous sent rêver.
Nous avons l’absence fière,

Et sommes peu courtisans,
Ayant sur nous la poussière
Des batailles et des ans.
Et c’est pourquoi je te parle

Comme parlait, grave et seul,
A ton aïeul Boson d’Arle
Gil de Bivar mon aïeul.
D’où naît ton inquiétude?

D où naît ton inquiétude?
D’où vient que ton œil me suit
Épiant mon attitude
Comme un nuage de nuit?
Craindrais-tu que je te prisse

Un matin dans mon manteau?
Et que j’eusse le caprice
D’une ville ou d’un château?
Roi, la chose qui m’importe

C’est de vivre exempt de fiel;
Non de glisser sous ma porte
Ma main jusqu’à Peñafiel.
Roi, le Cid que l’âge gagne

S’aime mieux, en vérité,
Montagnard dans sa montagne
Que roi dans ta royauté.
Roi, le Cid qu’on amadoue,

Mais que nul n’intimida,
Ne t’a pas donné Cordoue
Pour te prendre Lérida.
Qu’ai-je besoin de Tortose,

De tes tours d’Alcacébé,
Et de ta chambre mieux close
Que la chambre d’un abbé,
Et des filles de la reine,

Et des plis de brocart d’or
De ta robe souveraine
Que porte un corrégidor,
Et de tes palais de marbre?

p
Moi qui n’ai qu’à me pencher
Pour prendre une mûre à l’arbre
Et de l’eau dans le rocher!
XV
LE ROI EST LE ROI
Roi, vous vous croyez moins prince

Et vous jurez par l’enfer
Dans cette montagne où grince
Ma vieille herse de fer;
D’effroi votre âme est frappée;

Vous vous défiez, trompeur;
Traître et poltron, mon épée
Vous fait honte et vous fait peur.
Vous me faites garder, sire;

Vous me faites épier
Par tous vos barons de cire
Dans leurs donjons de papier:
Derrière vos capitaines

Vous tremblez en m’approchant;
Comme l’eau sort des fontaines,
Le soupçon sort du méchant;
Votre altesse scélérate

N’aurait pas d’autre façon
Quand je serais un pirate,
Le spectre de l’horizon!
Vous consultez des sorcières

Pour que je meure bientôt;
Vous cherchez dans mes poussières
De quoi faire un échafaud;
Vous rêvez quelque équipée;
Vous dites bas au bourreau
Que, lorsqu’un homme est épée,
Le sépulcre est le fourreau;
Votre habileté subtile

Me guette à tous les instants;
Eh bien! c’est peine inutile
Et vous perdez votre temps
Vos précautions sont vaines;

Pourquoi? je le dis à tous:
C’est que le sang de mes veines
N’est pas à moi, mais à vous.
Quoique vous soyez un prince

Vil, on ne peut le nier,
Le premier de la province,
De la vertu le dernier;
Quoique à ta vue on se sauve,

Seigneur; quoique vous ayez
Des allures de loup fauve
Dans des chemins non frayés;
Quoiqu’on ait pour récompense

La haine de vos bandits;
Et malgré ce que je pense,
Et malgré ce que je dis,
Roi, devant vous je me courbe,

Raillé par votre bouffon;
Le loyal devant le fourbe,
L’acier devant le chiffon;
Devant vous fuyard s’efface

Devant vous, fuyard, s efface
Le Cid, l’homme sans effroi.
Que voulez-vous que j’y fasse
Puisque vous êtes le roi!
XVI
LE CID EST LE CID
Don Sanche, une source coule

A l’ombre de mes donjons;
Comme le Cid dans la foule
Elle est pure dans les joncs.
Je n’ai pas d’autre vignoble;

Buvez-y; je vous absous.
Autant que vous je suis noble
Et chevalier plus que vous.
Les savants, ces prêcheurs mornes,

Sire, ont souvent pour refrains
Qu’un trône même a des bornes
Et qu’un roi même a des freins;
De quelque nom qu’il se nomme,

Nul n’est roi sous le ciel bleu
Plus qu’il n’est permis à l’homme
Et qu’il ne convient à Dieu.
Mais, pour marquer la limite,

Il faudrait étudier;
Il faudrait être un ermite
Ou bien un contrebandier.
Moi, ce n’est pas mon affaire;

Je ne veux rien vous ôter;
Étant le Cid, je préfère
Obéir à disputer.
Accablez nos sombres têtes
De désespoir et d’ennuis,
Roi, restez ce que vous êtes;
Je reste ce que je suis.
J’ai toujours, seul dans ma sphère,

Souffert qu’on me dénigrât.
Je n’ai pas de compte à faire
Avec le roi, mon ingrat.
Je t’ai, depuis que j’existe,

Donné Jaen, Balbastro,
Et Valence, et la mer triste
Qui fait le bruit d’un taureau,
Et Zamora, rude tâche,

Huesca, Jaca, Teruel,
Et Murcie où tu fus lâche,
Et Vich où tu fus cruel,
Et Lerme et ses sycomores,

Et Tarragone et ses tours,
Et tous les ans des rois mores,
Et le grand Cid tous les jours!
Nos deux noms iront ensemble

Jusqu’à nos derniers neveux.
Souviens-t’en, si bon te semble;
N’y songe plus, si tu veux.
Je baisse mes yeux, j’en ôte

Tout regard audacieux;
Entrez sans peur, roi mon hôte;
Car il n’est qu’un astre aux cieux;
Cet astre de la nuit noire

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Accounting What the Numbers Mean

10th Edition Marshall Solutions Manual

Accounting What the Numbers Mean 10th Edition Marshall

Accounting What the Numbers Mean 9th Edition Marshall

Accounting What the Numbers Mean 11th Edition Marshall

Accounting What the Numbers Mean 11th Edition Marshall

Horngrens Accounting The Financial Chapters 10th

Horngrens Accounting The Managerial Chapters 10th

Financial Accounting The Impact on Decision Makers 10th

Accounting 10th Edition Hoggett Solutions Manual

II. Retained Earnings

III. Accumulated Other Comprehensive Income (Loss)

IV. Noncontrolling (Minority) Interest

V. Reporting Changes in Stockholders' Equity Accounts

VI. Owners’ Equity for Other Types of Entities

VII. Appendix—Personal Investing

7. To expand the student's understanding of cash dividends.

3. If the instructor is so inclined, a brief discussion of the determinants of a firm's dividend

5. Real-world examples of the statement of changes in stockholders' equity should be presented

LEARNING DIFFICULTY & OTHER

LEARNING DIFFICULTY & OTHER

Multiple Choice Annotations:

5. Beginning retained earnings $23,000

Solving for the missing amount, net income = $11,000

b. December 31, 2013 to record the declaration of dividends:

c. February 7, 2014 to record the payment of dividends:

b. December 31, 2013:

Annual dividend = 7.5% * $100 per share * 125,000 shares = $937,500

Dividends for 3 years = 3 * $937,500 = $2,812,500

a. April 10, 2013:

b. September 28, 2013:

Steps: Short-cut approach:

Steps: Short-cut approach:

Retained earnings, December 31, 2013 ......... ........... ........... ........... $ ?

b. Cash dividends are paid on shares outstanding.

b. Common stock at stated value of $1.00 per share;

c. Total dividend = Rate per share * Number of shares outstanding

Semi-annual dividend = annual dividend / 2 = $140,000 / 2 = $70,000

b. Annual dividend = Dividend rate * number of shares outstanding

c. Annual dividend = Dividend rate * stated value * number of shares outstanding

Quarterly dividend = annual dividend / 4 = $1,026,000 /4 = $256,500

Preferred dividends = $3.75 * 3 years * 700 shares = $7,875

Common dividends = $0.40 * 8,000 shares = $3,200

Total dividends received = $7,875 + $3,200 = $11,075

b. $0.84 / 1.05 = $0.80

c. Total dividend on 4,200 shares @ $0.84 = $3,528

b. Dividend income before the stock split = $6 * 500 shares = $3,000

c. A 50% stock dividend would accomplish the same result.

2. December 28, 2014 to record the declaration of dividends:

3. February 12, 2015 to record the payment of dividends:

2. December 28, 2014:

3. February 12, 2015:

2. December 17, 2015 to record the declaration of dividends:

3. February 9, 2016 to record the payment of dividends:

2. December 17, 2015:

b. June 15, 2013:

c. September 19, 2013:

b. Shares outstanding at beginning of year ........ ........... ........... ........... 622,100

c. Balance Sheet Income Statement .