Determined that net income for the year was $ 277,500. Paid the dividend declared on December 1.
Journalize the transactions.
Enter the beginning balances in the accounts and post the journal entries to the stockholders’ equity accounts.
Prepare the stockholders’ equity section of the balance sheet at December 31, 2014.
Calculate the payout ratio, earnings per share, and return on common stockholders’ equity.
Problem 11-7A
Your answer is incorrect.
Cepeda Company manufactures backpacks. During 2014, Cepeda issued bonds at 11 % interest and used the cash proceeds to purchase treasury stock. The following financial information is available for Cepeda Company for the years 2014 and 2013.
2014