Problem 15-2 (Part Level Submission) Bramble Company had the following stockhold
ID: 2339581 • Letter: P
Question
Problem 15-2 (Part Level Submission)
Bramble Company had the following stockholders’ equity as of January 1, 2017.
During 2017, the following transactions occurred.
580 shares of treasury stock repurchased above were reissued at $19 per share.
Common stock, $5 par value, 18,200 shares issued $91,000 Paid-in capital in excess of par—common stock 299,000 Retained earnings 320,000 Total stockholders’ equity $710,000 (b) Prepare the stockholders' equity section as of April 30, 2017. Net income for the first 4 months of 2017 was $126,200. ( BRAMBLE COMPANY Stockholders' EquityExplanation / Answer
b)
BRAMBLE COMPANY Stockholder's equity April 30,2017 Common Stock 91000 Paid-in capital in excess of par—common stock 299000 Paid in capital from sale of treasury stock 1160 Total paid in capital 391160 Retained earnings 443440 Total capital and retained earnings 834600 Less: Treasury stock (30*17) -510 Total Stockholder's equity 834090