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Common stock $5 stated value (900,000 shares authorized, 620,000 shares issued)................. $3,100,000Paid-in capital in excess o stated value-common stock ....1,240,000Retained Earnings ....$4,875,000Treasury Stock (48,000 shares at cost) .... 288,000The following selected transactions occurred during the year:Jan 15: Paid cash dividends of $0.06 per share on common stock. The dividend had been properly recorded when declared on Dec. 1 of the preceding fiscal year for $34320Mar.15 Sold all the treasury stock for $6.75 per share.Apr 13. Issued 200,000 shares of common stock for $8 per share.June 14. Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock which is $7.50 per share.July 16. Issued the certificates for the dividend declared on June 14Oct 30. Purchased 50,000 shares of treasury stock for $6 per share.Dec 30 Declared a $0.08 per share dividend on common stock31 Closed the credit balance of the income summary account, $775,000.31. Closed the two dividends accounts to retained earnings.ENTER INTO ACCOUNTS.It grades as I go and everything I enter into it is wrong. Im so lost any help is greatly appreciated!
The Wanless Corporation provides Internet consulting services to a wide-range of customers. The company's fiscal year ends on December 31. For the year ended December 31, 2011, the
Adjudication order The court may adjudge the debtor bankrupt on the application of the O.R. or any creditor in the following cases: If the creditors so resolve at their first
EXPLIN THE PROCEDURE FOLLOWED IN GOVERMENT SYSTEM OF ACCOUNTING IN INDIA.
I am working on a bank reconciliation problem. How should I record the following transaction on the company's cash record? (10/31/13 Bank Rec) A two month, 8%, $1350 customer's not
Significant Findings or Issues - Substantive matters which are vital to procedures performed, conclusions reached or evidence obtained and include though aren't limited to: 1.
LIQUIDATION OF COMPANIES (a) Methods of Winding Up: A company may be wound up:By the court, Voluntarily, either as a members' or a creditors' winding up; or Subject to the s
Simon Corporation's bonds have 12 years left over to maturity. Interest is paid yearly, the bonds have a $1,000 par value, and the coupon interest rate is 11.5%. The bonds have a y
Shareholder value maximization framework The four key elements that affect the shareholder value of a company are Profitability Growth Risk Capital Mark
1) A sales discount correctly taken by the charge customer was debited to Sales at the time the entry was recorded. This error will cause. A) the net income for the period to be un
Accounting for Partnerships The owners’ interests in the business are divided into long term and short-term interests. (Long-term interests refer to original capital commitment
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