Carlyon company listed the following equity items

Assignment Help Accounting Basics
Reference no: EM131014594

Carlyon Company listed the following equity items on December 31, 2012:During 2013, the following transactions occurred

1881_wjia01h-e16-1-q-2-.jpg

How would the Oct 15, Dec 3, Dec 28th journal entries be entered in as and to what amounts?

I believe Oct 15 would be a debit to retained earnings and a credit to Common stock to be distributed and also additional paid in capital from stock dividend but do not know how to calculate the amounts that should be entered.

Dec 3 I believe should be Common Stock to be distributed (debit) and common stock ($10 Par) but again what amounts

Dec 28 retained earnings (debit), dividends payable;preferred and dividends payable;common as a credit, but am having trouble with the amounts.

Please help with the amounts that should be entered for these three dates. 

Reference no: EM131014594

Questions Cloud

What is the significance of the supreme court decision : As you examine a defendant's rights and stages of proceedings, you will likely ask yourself several questions. What is the significance of the Supreme Court's decision in Brady v. U.S.
List the eight phases of development of a canal system : List the eight phases of development of a canal system. Discuss the possible costs incurred by the canal owner, the canal users (shippers), and the surrounding community at each phase of developing this engineering system.
Kinds of ethical dilemmas : Think about an organization where you've worked. What kinds of ethical dilemmas are unique to that organization? To that industry? What might be the best way to prepare employees to deal with those dilemmas?
Find the point where the line through the given points : Find the point where the line through the points P(1, 0, 1) and Q(0, 3, 2) meets the plane 2x - y + 3z = 6. Find the angle between the line and the normal to the above given plane.
Carlyon company listed the following equity items : Dec 28 retained earnings (debit), dividends payable;preferred and dividends payable;common as a credit, but am having trouble with the amounts.
Identify two elements plaintiffs : Identify two elements plaintiffs in 1983 actions against state and local law enforcement officers have to prove.  Identify and describe two limits the U.S. Supreme Court placed on 1983 actions against state and local officers
How fast is the spotlight moving along the wall : How fast is the spotlight moving along the wall containing the gate (in feet per minute) when it hits Bob if Bob is 1200 feet from the gate along the side of the rectangle containing the only gate?
Problem regarding the government encouragement : Think about the impact of the U.S. Sentencing Guidelines. Would organizations have tried to drive ethical behavior among employees without government encouragement?
Address ethical issues in a formal-systematic way : 1. Does your organization address ethical issues in a formal, systematic way? How has the organization customized an ethical culture to match its unique needs?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Total dividends paid to shareholders

In its most recent financial statements, Newhouse Inc. reported $50 million of net income and $810 million of retained earnings. The previous year, its balance sheet showed $780 million of retained earnings. What were the total dividends paid to s..

  Razar sharp company purchased equipment on july 1 2010 for

razar sharp company purchased equipment on july 1 2010 for 22140. the equipment was expected to have a useful life of

  Management regarding tax implications of contribution

Based on 2008 tax laws, if Salem's taxable income before charitable contributions is $11,500,000 in 2009, calculate the charitable contribution allowance for 2009. Provide a recommendation to Salem management regarding tax implications of this con..

  Pacific products inc completed and transferred 55000

pacific products inc. completed and transferred 55000 particle board units of production from the pressing department.

  The ending balance of accounts receivable

The ending balance of Accounts Receivable was $2,400. During the period, Panoramic recognized $40,000 of revenue on account.

  Initial cash flow for expansion project

The company currently owns some unused equipment valued at $60,000. This equipment could be used for producing awnings if $5,000 is spent for equipment modifications. Other equipment costing $780,000 will also be required. What is the amount of th..

  All revenue from the contract and all expenses

golden flights inc. is considering buying some specialized machinery that would enable the company to obtain a six-year

  Describe production characteristics of three products

Describe the characteristics of products which would suggest it would be better to use ABC as an indirect cost allocation method over a traditional method such as direct labor hours.

  Compute the amount of phantom profit

Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO

  You have just won the lottery and will receive 650000 in

you have just won the lottery and will receive 650000 in one year. you will receive payments for 30 years which will

  Rose wilson is entering her senior year as an accounting

rose wilson is entering her senior year as an accounting major and has a number of options for her summer break. her

  How should the deferred tax amounts be classified

How should the deferred tax amounts be classified in a classified balance sheet?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd