COMPONENTS OF CAPITAL

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1 ILLUSTRATION 15-1 COMPONENTS OF CAPITAL COMPONENTS OF CAPITAL Stockholders' Equity (Total) LESS Treasury Stock (Cost Method) Contributed Capital Retained Earnings Preferred Stock Common Stock LESS Unappropriated Retained Earnings Appropriated Retained Earnings Par Value (or Stated Value) Capital Contributed in Excess of Par (or Stated) Value Par Value (or Stated Value) Capital Contributed in Excess of Par (or Stated) Value Treasury Stock (Par Value Method) 107

2 ILLUSTRATION 15-2 SOURCES OF CHANGES IN STOCKHOLDERS' EQUITY Sources of Changes in Equity All Transactions and Events that Cause Changes in Equity Changes in Equity That Affect Assets and Liabilities Changes in Equity That Do Not Affect Assets and Liabilities Net Income Other Comprehensive Income Investments By and Distribution to Owners Revenues Expenses Gains Losses Examples are: Unrealized Gain or Loss on Available for Sale Securities Foreign currency translation adjustments Minimum pension liability adjustment Examples are: Issuance and Repurchase of Stock Cash and Scrip Dividends Examples are: Stock Splits Stock Dividends Conversion of Preferred Stock to Common Stock 108

3 ILLUSTRATION 15-3 ACCOUNTING FOR THE ISSUANCE OF STOCK EXAMPLE 1: Issued 100 shares of common stock for $30 per share. Premium Stock Has Par Value of $10 Per Share Stock Has No-Par Value JOURNAL Cash 3,000 Cash 3,000 ENTRY Common Stock 1,000 Common Stock Additional Paid-in No-Par Value 3,000 Capital (Premium on Common Stock) 2,000 EXAMPLE 2: Issued 100 shares of common stock for $9 per share. Discount Stock Has Par Value of $10 Per Share Stock Has No-Par Value JOURNAL Cash 900 Cash 900 ENTRY Additional Paid-in Common Stock Capital (Discount No-Par Value 900 on Common Stock) 100 Common Stock 1,

4 ILLUSTRATION 15-4 TREASURY STOCK TRANSACTIONS COST METHOD JOURNAL ENTRIES FOR TREASURY STOCK TRANSACTIONS In-Need-of-Cash, Inc., re-acquired and then re-issued some of its own $10-Par common stock, issued originally at $25. Treasury Stock Accounted by the Cost Method Assume in-need-of-cash re-acquired 1,000 shares on April 1 Re-acquisition Price, $22 per share: Treasury Stock 22,000 Cash 22,000 Re-acquisition Price, $28 per share: Treasury Stock 28,000 Cash 28,000 Assume In-Need-of-Cash sold 500 shares of its Treasury Stock for $30 on June 1 Treasury Stock 11,000 Paid-in Capital, Treasury Stock 4,000 Treasury Stock 14,000 Paid-in Capital, Treasury Stock 1,

5 ILLUSTRATION 15-4 (continued) JOURNAL ENTRIES FOR TREASURY STOCK TRANSACTIONS (continued) Treasury Stock Accounted by the Cost Method Assume in-need-of-cash sold an additional 300 shares of its Treasury Stock for $9 per share on Oct. 15 Cash 2,700 Paid-in Capital, Treasury Stock 3,900 Treasury Stock 6,600 Cash 2,700 Paid-in Capital, Treasury Stock 1,000 *Retained Earnings 4,700 Treasury Stock 8,400 Assume In-Need-of-Cash sold a further $100 shares of its Treasury Stock for $11 per share on Oct. 30 Paid-in Capital, Treasury Stock 100 *Retained Earnings 1,000 Treasury Stock 2,200 Cash 1,100 Retained Earnings 1,700 Treasury Stock 2,800 * Note: These transactions assume that In-Need-of-Cash, Inc., had no Treasury Stock transactions prior to April

6 ILLUSTRATION 15-4 (concluded) JOURNAL ENTRIES FOR TREASURY STOCK TRANSACTIONS (concluded) Treasury Stock Accounted by the Cost Method Assume in-need-of-cash retired the remaining 200 shares of Treasury Stock on November 10 Common Stock 2,000 Additional Paid-in Capital 3,000 Treasury Stock 4,400 Paid-in Capital, Common Retirement 600 Common Stock 2,000 Additional Paid-in Capital 3,000 *Retained Earnings 600 Treasury Stock 5,600 Assume, instead, that all 1,000 shares of Treasury Stock once acquired were retired on April 2 Common Stock 10,000 Additional Paid-in Capital 15,000 Treasury Stock 22,000 Paid-in Capital, Common Retirement 3,000 Common Stock 10,000 Additional Paid-in Capital 15,000 *Retained Earnings 3,000 Treasury Stock 28,000 * Note: These transactions assume that In-Need-of-Cash, Inc., had no Treasury Stock transactions prior to April

7 ILLUSTRATION 15-5 TREASURY STOCK TRANSACTIONS PAR VALUE METHOD JOURNAL ENTRIES FOR TREASURY STOCK TRANSACTIONS In-Need-of-Cash, Inc., re-acquired and then re-issued some of its own $10-Par common stock, issued originally at $25. Treasury Stock Accounted by the Par-Value Method Assume in-need-of-cash re-acquired 1,000 shares on April 1 Re-acquisition Price, $22 per share: Treasury Stock 10,000 Additional Paid-in Capital 15,000 Cash 22,000 Paid-in Capital, Treasury Stock 3,000 Re-acquisition Price, $28 per share: Treasury Stock 10,000 Additional Paid-in Capital 15,000 Retained Earnings 3,000 Cash 28,000 Assume In-Need-of-Cash sold 500 shares of its Treasury Stock for $30 on June 1 Treasury Stock 5,000 Additional Paid-in Capital 10,000 Treasury Stock 5,000 Additional Paid-in Capital 10,

8 ILLUSTRATION 15-5 (continued) JOURNAL ENTRIES FOR TREASURY STOCK TRANSACTIONS (continued) Treasury Stock Accounted by the Par-Value Method Assume in-need-of-cash sold an additional 300 shares of its Treasury Stock for $9 per share on Oct. 15 Cash 2,700 Paid-in Capital, Treasury Stock 300 Treasury Stock 3,000 Cash 2,700 *Additional Paid-in Capital 300 Treasury Stock 3,000 Assume In-Need-of-Cash sold a further $100 shares of its Treasury Stock for $11 per share on Oct. 30 Cash 1,100 Additional Paid-in Capital 100 Treasury Stock 1,000 Cash 1,100 Additional Paid-in Capital 100 Treasury Stock 1,000 * Note: These transactions assume that In-Need-of-Cash, Inc., had no Treasury Stock transactions prior to April

9 ILLUSTRATION 15-5 (concluded) JOURNAL ENTRIES FOR TREASURY STOCK TRANSACTIONS (concluded) Treasury Stock Accounted by the Par-Value Method Assume in-need-of-cash retired the remaining 200 shares of Treasury Stock on November 10 Common Stock 2,000 Treasury Stock 2,000 Common Stock 2,000 Treasury Stock 2,000 Assume, instead, that all 1,000 shares of Treasury Stock once acquired were retired on April 2 Common Stock 10,000 Treasury Stock 10,000 Common Stock 10,000 Treasury Stock 10,000 * Note: These transactions assume that In-Need-of-Cash, Inc., had no Treasury Stock transactions prior to April

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