Problem 13-4A

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13-4a_25e_problem.xls
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Pr. 13-4A

Problem 13-4A
Name: 14
Section: # N-box Incorrects due to blanks COUNTIF(B15:AT24," ")
27
Score: 38% # N-box +B-box corrects COUNTIF(B15:AT24," ")
25
Key Code: [Key code here] Total SUM(AD13:AD15)
Instructions 66
Answers are entered in the cells with gray backgrounds. Percentage =(AD16-AD13-AD14)/AD16
Cells with non-gray backgrounds are protected and cannot be edited. 38%
An asterisk (*) will appear to the right of an incorrect entry. In T accounts, only final balances will be graded. Notes:
Enter a zero for the final balance if appropriate. If number-entry box is blank (this would be an incorrect answer for N-boxes), error check returns two spaces, " "
If number-entry or blank-entry box is incorrect, returns "*"
1., 2. If number-entry or blank-entry box is correct, returns single space, " "
Common Stock Treasury Stock Use data verification to set data entry to whole number >= 0, and use drop-downs for lables and names, so that students can't enter a space in a box and have it counted as correct.
Jan. 1 Bal. Jan. 1 Bal. June 06 0 Conditional formatting might be used but wasn't here, to hide some of the error check return symbols. If A1 = "~*", then font = red, if something else, then font = background color.
Apr. 10 Nov 23
Aug 15 Dec. 31 Bal.
Dec. 31 Bal.
Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Stated Value June 06
Jan. 1 Bal. Dec. 31 Bal.
Apr. 10
July 05 Stock Dividends Distributable
Dec. 31 Bal. Aug 15 July 05
Dec. 31 Bal. 0
Retained Earnings Stock Dividends
Dec 31 493,800 Jan. 1 Bal. July 05 Dec 31
Dec 31 Dec. 31 Bal. 0
Dec. 31 Bal.
Cash Dividends
Dec 28 Dec 31 0
Dec. 31 Bal. 0
2.
Jan. 22 Cash Dividends Payable Cash
Cash 0 * Cash Dividends
Cash Dividends Payable
Apr. 10 Cash Common Stock
Common Stock Income Summary
Paid-In Capital in Excess of Stated Value Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Stated Value
June 6 Cash Retained Earnings
Treasury Stock Stock Dividends
Paid-In Capital from Sale of Treasury Stock Stock Dividends Distributable
Treasury Stock
July 5 Stock Dividends
Stock Dividends Distributable
Paid-In Capital in Excess of Stated Value 0 *
Aug. 15 Stock Dividends Distributable
Common Stock
Nov. 23 Treasury Stock
Cash
Dec. 28 Cash Dividends
Cash Dividends Payable 0 *
31 Income Summary
Retained Earnings 0 *
31 Retained Earnings 0 *
Stock Dividends 0 *
Cash Dividends 0 *
3. MORROW ENTERPRISES INC.
Retained Earnings Statement
For the Period Ended December 31, 2014
Retained earnings (January 1, 2014)
Net income
Less: Cash dividends
Stock dividends
Increase in retained earnings - *
Retained earnings (December 31, 2014) $ - *
4. MORROW ENTERPRISES INC.
Balance Sheet
December 31, 2014
Stockholders' Equity
Paid-in capital:
Common stock, $20 stated value 0
(500,000 shares authorized, 468,000 shares issued)
Excess of issue price over stated value - *
From sale of treasury stock - *
Total paid-in capital $ - *
Retained earnings - *
Total $ - *
Deduct treasury stock (30,000 shares at cost)
Total stockholders' equity
Place the larger of the two credits on this line.
Place the larger of the two credits on this line.
Place the larger of the two credits on this line.
Place the larger of the two credits on this line.

Sol

Problem 13-4A
Name: Solution
Section:
Score: ON
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry. In T accounts, only final balances will be graded.
Enter a zero for the final balance if appropriate.
1., 2.
Common Stock Treasury Stock
Jan. 1 Bal. 7,500,000 Jan. 1 Bal. 450,000 June 6 450,000
Apr. 10 1,500,000 Nov. 23 570,000
Aug. 15 360,000 Dec. 31 Bal. 570,000
Dec. 31 Bal. 9,360,000
Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Stated Value June 6 200,000
Jan. 1 Bal. 825,000 Dec. 31 Bal. 200,000
Apr. 10 300,000
July 5 90,000 Stock Dividends Distributable
Dec. 31 Bal. 1,215,000 Aug. 15 360,000 July 5 360,000
Dec. 31 Bal. 0
Retained Earnings Stock Dividends
Dec. 31 493,800 Jan. 1 Bal. 33,600,000 July 5 450,000 Dec. 31 450,000
Dec. 31 1,125,000 Dec. 31 Bal. 0
Dec. 31 Bal. 34,231,200
Cash Dividends
Dec. 28 43,800 Dec. 31 43,800
Dec. 31 Bal. 0
2.
Jan. 22 Cash Dividends Payable 28,000 Cash
Cash 46,800 Cash Dividends
Cash Dividends Payable
Apr. 10 Cash 1,800,000 Common Stock
Common Stock 1,500,000 Income Summary
Paid-In Capital in Excess of Stated Value 300,000 Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Stated Value
June 6 Cash 650,000 Retained Earnings
Treasury Stock 450,000 Stock Dividends
Paid-In Capital from Sale of Treasury Stock 200,000 Stock Dividends Distributable
Treasury Stock
July 5 Stock Dividends 450,000
Stock Dividends Distributable 360,000
Paid-In Capital in Excess of Stated Value 90,000
Aug. 15 Stock Dividends Distributable 360,000
Common Stock 360,000
Nov. 23 Treasury Stock 570,000
Cash 570,000
Dec. 28 Cash Dividends 43,800
Cash Dividends Payable 43,800
31 Income Summary 1,125,000
Retained Earnings 1,125,000
31 Retained Earnings 493,800
Stock Dividends 450,000
Cash Dividends 43,800
3. MORROW ENTERPRISES INC.
Retained Earnings Statement
For the Period Ended December 31, 2014
Retained earnings (January 1, 2014) $ 33,600,000
Net income $ 1,125,000
Less: Cash dividends (43,800)
Stock dividends (450,000)
Increase in retained earnings 631,200
Retained earnings (December 31, 2014) $ 34,231,200
4. MORROW ENTERPRISES INC.
Balance Sheet
December 31, 2014
Stockholders' Equity
Paid-in capital:
Common stock, $20 stated value 0
(500,000 shares authorized, 468,000 shares issued) $ 9,360,000 0
Excess of issue price over stated value 1,215,000 0
From sale of treasury stock 200,000 0
Total paid-in capital $ 10,775,000 0
Retained earnings 34,231,200 0
Total $ 45,006,200 0
Deduct treasury stock (30,000 shares at cost) 570,000 0
Total stockholders' equity $ 44,436,200 0
Place the larger of the two credits on this line.
Place the larger of the two credits on this line.
Place the larger of the two credits on this line.
Place the larger of the two credits on this line.