Please help. No one seems to be able to get this information right, including my
ID: 2447082 • Letter: P
Question
Please help. No one seems to be able to get this information right, including myself. Please help me. Thank you.
Problem 11-2A The stockholders' equty accounts of Miley Corporation on January 1, 2014, were follows Preferred Stock (7%, $100 par noncumulative, 4,700 5hresauthorized Common Stock (83 stated velue, 328,000 shares suthorized authortzed) 282,00o 57,200 I In Excess of I In Excess of n Copital in E 262,400 659,700 37,600 Reto ned Earnings Tresaury Stock-(4,700 common shares) During 2014, the corporation hed the folowing tronsact ons and events pertaining to ts stockholders' equity Feb. 1 ssued 4,600 shares of common stock for $27,600 Mor. 20 Purchased 1,470 additional shares of common treasury stock at $8 per share Oct 1 Dedared 7% cash dividend on preferred stock, payable November 1. Peid the dividend deciared on Cctober1 Dec. 1 Decared $0.70 per shere cash dividend to common stockholders of record on December 15, payable December 31, 2014. Dec. 31 Determ ned that net income for the year os $281,000. Pald the dividend dedared on December 1. Your ansmer is partialy correct. Try again Journalze the tronsactions, (Recard entries ia the order displayed in the probien statement. Credir account tirles ave automstically indented when amount is entered. Do not indeat manualy Account Titles and E Cepltal inE Mar. 20 Treasury Stock 1 1TCash Dividends Dividends Payabla Cash Dividends Dividends Payable Lncome Summary Retained Eamings (To record net income) Retaired Earning 20246 (To dose cash dvidends) (To record payment of cash dividends payable) Your ansmer is partialy correct. Try again Enter the beginning balances in the accounts and post the jounel entries to the stockholders equlty accounts, (Post entries in the order of journd entries posted in the previous part 1/1 Bal 6200 12/31 Bal. 974012/31 Treasury Stock Your ansmer is partialy correct. Try again Prepare the stockholders' equty sect ion of the bolance sheet at December 31, 2014 December 31, 2014 Pa d-in Capital Total Capital Stock I in Exces I in Exces Total Additional Paid-in 276200 Retained Earnings Treasury Stock Equity Your answer is incorrect. Try again Caiculate the payout ratio, earnings per share, and retum on common stockholars equity. (Round earning per share to 2 decimal places,e.g $2.66 and aW other answers to 1 decimal place. 17.5%.) Earnings per share Retun on common stockholders' equity question Attempts: Unlimited SAVE FOR LATER Co0yrignt © 2000-2015 by John ley & Sons, Inc. or reeted comoenies Ali rights reserved.Explanation / Answer
= ($719,326.70, $1,004,085.8)