Morrow Enterprises Inc. manufactures bathroom fixtures. Morrow Enterprises’ stockholders’ equity accounts, with balances on January 1, 20Y6, are as follows:
Common stock, $20 stated value (500,000 shares authorized, 353,000 shares issued) $7,060,000
Paid-In Capital in Excess of Stated Value—Common Stock 811,900
Retained Earnings 33,598,000
Treasury Stock (25,500 shares, at cost) 484,500
The following selected transactions occurred during the year:
Jan. 22 Paid cash dividends of $0.10 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $32,750.
Apr. 10 Issued 72,000 shares of common stock for $24 per share.
Jun. 6 Sold all of the treasury stock for $25 per share.
Jul. 5 Declared a 4% Stock dividend on common stock, to be capitalized at the market price of the stock, which is $26 per share.
Aug. 15 Issued the certificates for the dividend declared on July 5.
Nov. 23 Purchased 25,000 shares of treasury stock for $19 per share.
Dec. 28 Declared a $0.09-per-share dividend on common stock.
31 Closed the two dividends accounts to Retained Earnings.
Required:
1. Enter the January 1 balances in T accounts for the stockholders’ equity accounts listed. If required, round your answers to the nearest dollar.
2. Journalize the entries to record the transactions, and post to the eight selected accounts. Assume that the closing entry for revenues and expenses has been made and post net income of $1,149,500 to the retained earnings account. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar.
3. Prepare a statement of stockholders’ equity for the year ended December 31, 20Y6. Assume that net income was $1,149,500 for the year ended December 31, 20Y6. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If there is an amount is zero, enter "0".*
4. Prepare the “Stockholders’ Equity” section of the December 31, 20Y6, balance sheet. For those boxes in which you must enter subtracted or negative numbers use a minus sign.*

This problem has been solved! see the answerchapter 19 problem #8. quality and financial control (connect, perform)part one: geometrica designs and builds domes and space frames for large buildings. while the company had developed quality standards over time to respond to different client problems and training needs, it lacked a unified quality system, and its global client base wanted assurance that geometrica met an established international standard for quality. which of the following was an appropriate step for this company to take? a) reform its accounting and financial reporting systems to comply with sarbanes-oxleyb) establish and document a quality management system to comply with iso 9000management at workyou are the new fleet manager at xpressship, a package delivery company. as your first project, your boss has asked that you to look into implementing an electronic monitoring system for the fleet of 2,000 trucks your company owns. a recent internal audit on maintenance and repair costs on the company’s vehicles revealed while maintenance was performed regularly on the trucks, mileage or use had not been taken into account. this resulted in approximately $20,000 of unneeded repairs. you know that telematics have been used by other companies with fleets of cars or trucks and it will allow your company to not only track mileage and use, but also part replacement needs, vehicle oil pressure, and drivers’ speed and real time location. tracking these items can reduce maintenance costs while improving efficiency. you find that a simple computer can be installed in each vehicle. when the drivers return at the end of the day, the telematics information from each vehicle will be uploaded to a master computer where a software program will generate a report with results on the variables you have selected.early one morning as you are getting a cup of coffee, a few drivers that have been with the company for many years approach you with some concerns. eldon, the most senior driver says, “i heard you’re installing some type of computer to track our driving. my buddy works over at parcel and post package delivery and he said they’ve got these computers, too. he said managers are writing people up and firing drivers for speeding or not wearing seat belts. are you going to do that to us, too? ”part two: as a manager, which of the following statements would be effective in maintaining a positive relationship with company drivers? check all that apply.a) at this time, xpressship will be using telematics to monitor maintenance and repair needs, not drivers’ motoring habitsb) although the company isn’t doing so now, when xpressship begins to monitor driver motoring habits, the company will encourage them to keep a separate daily log where they can document any unusual circumstancesc) while xpressship could monitor things like speed, location, and idle time, the company trusts their drivers and will not be using that data in disciplinary decisionsd) xpressship executives are happy with their technology and believe that implementation is ideal for your organization

United continental holdings, inc., (ual), operates passenger service throughout the world. the following data (in millions) were adapted from a recent financial statement of united. sales (revenue) $38,901 average property, plant, and equipment 17,219 average intangible assets 8,883 1. compute the asset turnover. round your answer to two decimal places.

Precision aviation had a profit margin of 6.25%, a total assets turnover of 1.5, and an equity multiplier of 1.8. what was the firm's roe? a. 15.23%b. 16.03%c. 16.88%d. 17.72%e. 18.60%