Andrew Company was incorporated on January 1, 2017, under a corporate charter that authorized the…

Andrew Company was incorporated on January 1, 2017, under a corporate charter that authorized the issuance of 50,000 shares of $5 par common stock and 20,000 shares of $100 par, 8% preferred stock. The following events occurred during 2017. Andrew wants to record the events and develop financial statements on December 31, 2017. a. Issued for cash 10,000 shares of common stock at $25 per share and 1,000 shares of preferred stock at $110 per share on January 15, 2017. b. Acquired a patent on April 1 in exchange for 2,000 shares of common stock. At the time of the exchange, the common stock was selling on the local stock exchange for $30 per share. c. Repurchased 500 shares of common stock on May 1 at $20 per share. The corporation is holding the stock to be used for an employee bonus plan. d. Declared a cash dividend of $1 per share to common stockholders and an 8% dividend to preferred stockholders on July 1. The preferred stock is noncumulative, nonparticipating. The dividend will be distributed on August 1. e. Distributed the cash dividend on August 1. f. Declared and distributed to preferred stockholders a 10% stock dividend on September 1. At the time of the dividend declaration, preferred stock was valued at $130 per share. g. On December 31, calculated the annual net income for the year to be $200,000.

Required 1. Identify and analyze the effect of items (a) through (f). 2. Develop the Stockholders’ Equity section of Andrew Company’s balance sheet at December 31, 2017. You do not need to consider the notes that accompany the balance sheet. 3. Determine the book value per share of the common stock. Assume that the preferred stock can be redeemed at par.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
error: Content is protected !!