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XYTECH, INC.

20X0
A.

DB
300,000.00

A&CL
Able, Capital
Baker, Capital
Cabot, Capital

B.

A&CL

100,000.00
Long-term Debt

C.

Able, Capital
Baker, Capital

18,000.00
18,000.00

Cabot, Capital

18,000.00
A&CL

20X1
A.

A&CL

50,000.00
A&CL

B.

Baker, Capital

82,000.00
Able, Capital
Cabot, Capital

C.

A&CL

12,000.00
Able, Capital
Cabot, Capital

20X2
A.

Able, Capital
Cabot, Capital

129,000.00
129,000.00
Common Stock
Additional Paid in Capital
---OR---

A&CL

258,000.00
Common Stock
Additional Paid in Capital

B.

A&CL

5,000.00
Long-term Debt

C.

A&CL

26,000.00
Retained Earnings

20X3

A.

A&CL

43,000.00
Retained Earnings

B.

Able and Cabot each own 50,000 shares after the stock split.

20X4
A.

A&CL

720,000.00
Common Stock
Additional Paid in Capital
---OR---

A&CL
Stock Issue Cost/ Expense

720,000.00
55,000.00
Common Stock
Additional Paid in Capital

B.

A&CL

68,000.00
Retained Earnings

20X5
A.

A&CL

500,000.00
Bonds Payable

B.

Long-term Debt

150,000.00
A&CL

C.

A&CL

85,000.00
Retained Earnings

20X6
A.

A&CL

111,000.00
Retained Earnings

B.

Retained Earnings

30,000.00
A&CL - Dividends Payable

20X7
A.

Treasury Stock

200,000.00
A&CL

B.

A&CL

152,000.00
Retained Earnings

C.

Retained Earnings

36,000.00
A&CL - Dividends Payable

CR
100,000.00
100,000.00
100,000.00

Non Current Liabili


100,000.00

Long-term Debt
Able, Capital
Baker, Capital
Cabot, Capital

54,000.00

CAPITAL

Non Current Liabili


No effect. Loan is a Current Liability
50,000.00

Long-term Debt

41,000.00

Able, Capital

41,000.00

Cabot, Capital
There are only 2 partners left.

CAPITAL

6,000.00
6,000.00

10,000.00
248,000.00

Partnership's action is to become a Corporation


The partnership incorporates itself into a corporation.
Partnership disappears
100 shares @ $100
The partners set up a new corporation.

10,000.00
248,000.00

The partners incorporate the corporation.


The action of the partners.
The company receives the ASSETS and the LIABILITIES

50,000.00
26,000.00

If there are RETAINED EARNINGS in the BS, it is a CORPORATION

43,000.00
New Par Value of the Stock Split
$100/1,000=$0.10
The earnings per share is therefore $0.43
$43,000 / 100,000 shares = $0.43

10,000.00
710,000.00

100k new shares x 0.10 par value


100,000 shares @ $0.10
Bankers made money

10,000.00
765,000.00

68,000.00

500,000.00

150,000.00
85,000.00

EPS = 0.425

Non Current Liability and Owner's Equity


111,000.00
Bonds Payable
30,000.00
Common Stock
Additional Paid in Capital

Retained Earnings
CAPITAL
EPS

Treasury stock is a buy-back


200,000.00
Non Current Liability and Owner's Equity
152,000.00
Bonds Payable
36,000.00

(180,000 x $0.20)
Common Stock
Additional Paid in Capital
Treasury Stock
RE
CAPITAL
EPS

Non Current Liability and Owner's Equity


100,000
82,000
82,000
82,000
246,000
Non Current Liability and Owner's Equity
100,000
129,000
129,000
258,000

Non Current Liability and Owner's Equity


Long-term Debt
Common Stock
Additional Paid in Capital
Retained Earnings
CAPITAL

150,000
10,000
248,000
26,000
284,000

Non Current Liability and Owner's Equity


Long-term Debt

150,000

Common Stock
Additional Paid in Capital
Retained Earnings

10,000
248,000
26,000

CAPITAL

327,000

EPS

$ 0.43

Non Current Liability and Owner's Equity


Long-term Debt

150,000

Common Stock
Additional Paid in Capital
Retained Earnings

20,000
958,000
137,000

CAPITAL

1,115,000

EPS

d Owner's Equity

$ 0.340

No. of Shares

Par Value

500,000
20,000
958,000

200,000

$0.1

303,000
1,281,000
$ 0.555

d Owner's Equity

(111,000) / 200,000

No. of Shares

Par Value

500,000
20,000
958,000
-200,000

180,000
(net of TREASURY STOCK of 20,000)

419,000
1,197,000

Based on WEIGHTED AVERAGE

$ 0.800
Shares of 190,000
$ 0.844 THIS IS THE ACTUAL VALUE
Theoretically, this is more sound. But in Accounting,
the $0.800 is more viable.

No. of Shares

100

Par Value

$100.00

No. of Shares

200,000

Par Value

$0.1