Overton Company Had the Following Transactions in 2013, Its First

question 36

Essay

Overton Company had the following transactions in 2013, its first year of operations.
• Issued 5,000 shares of common stock. Stock has par value of $0.01 per share and was issued at $30.00
per share.
• Earned net income of $200,000.
• Paid dividends of $5.00 per share.
The company charter authorizes 1,000,000 shares of common stock and 100,000 shares of preferred stock.
Please provide the stockholders' equity section of the balance sheet at December 31, 2013. Include information on par values, and the number of shares authorized and issued, where necessary. No subtotals are needed for total paid-in capital, but please show total stockholders' equity on the bottom line.
$$\begin{array} { | l | l | l | l | l | } \hline \text { Account } & \text { Par value info } & \text { Shares authorized } & \text { Shares issued } & \text { Balance } \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline\end{array}$$

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Definitions:

16 PF Test

A psychological assessment tool that measures 16 personality factors or traits to understand human behavior.

Personal Orientation Inventory

A psychological assessment tool designed to measure personal self-actualization and intrapersonal values.

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The process of realizing and expressing one's own capabilities and creativity, fulfilling potential and achieving personal goals at the highest level of Maslow's hierarchy of needs.