On January 1, 2014, the Stockholders' Equity Section of Gibbons

question 63

Essay

On January 1, 2014, the stockholders' equity section of Gibbons Corporation's balance sheet reported the following: $$\begin{array}{l}\text { Common stock, par } \$ 10 \text {, authorized } 100,000 \text { shares, }\\\text { issued 10,000 shares } & \$ 100,000 \\\text { Capital in excess of par } & 50,000 \\\text { Retained earnings } & 160,000\end{array}$$ During 2014, the following selected transactions occurred (assume they occurred in the order given): April 1 $\quad$ Issued a $10 \%$ stock dividend when the market price was $\$ 12$ .
May 1 $\quad$ 200 shares of treasury stock were purchased at $\$ 11$ per share.
Sept. 1 $\quad$ Declared and paid a cash dividend of $\$ 19,800$ .
Dec. 31 $\quad$ Net income was $\$ 30,000$ . Required:
Prepare the stockholders' equity section of the balance sheet as of December 31, 2014.

Recognize the role of licensing and market restrictions on prices.

Understand the concept of implicit attitudes and their assessment.

Comprehend the causes and effects of cognitive biases and attribution errors.

Identify and differentiate between stereotypes, self-fulfilling prophecies, and out-group homogeneity.

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Definitions:

Motivating Factors

Elements or drivers that influence individuals' behavior and can increase their enthusiasm and commitment towards achieving personal or organizational goals.

Recognition

The process of formally acknowledging a particular status, achievement, or compliance with standards, often used in professional contexts.

Working Conditions

The environment in which an employee works, including aspects such as safety, hours, and physical demands.

Extrinsic Reward

Rewards or incentives given for performing a task that come from an external source, such as money, prizes, or recognition.