Enter into accounts, Financial Accounting

Assignment Help:

Common stock $5 stated value (900,000 shares authorized, 620,000 shares issued)................. $3,100,000
Paid-in capital in excess o stated value-common stock ....1,240,000
Retained Earnings ....$4,875,000
Treasury Stock (48,000 shares at cost) .... 288,000
The 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 $34320
Mar.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 14
Oct 30. Purchased 50,000 shares of treasury stock for $6 per share.
Dec 30 Declared a $0.08 per share dividend on common stock
31 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!


Related Discussions:- Enter into accounts

What is bequest, Q. What is Bequest? Bequest - A gift by will of person...

Q. What is Bequest? Bequest - A gift by will of personal property. If bequest is money to the extent it's paid out ofincome from property it is taxable to the recipient. Normal

Define country in rigorous recession reflect on devaluation, Define why cou...

Define why country in rigorous recession reflect on devaluation? Countries can deal with the both internal problems with external solutions. Why might a country in rigorous rec

#Fair Value is like throwing gasoline on a fire, Ask question #what are the...

Ask question #what are the additional budens to the investor reuling from the mixed attribute model?

Estimate the montly sales budget, Your friend Peter is planning to set up a...

Your friend Peter is planning to set up a new business which will manufacture and sell wooden tables. The parts that make up the table consist of a wooden table top measuring 1m by

Illustrate the new rules of sec, New Rules SEC i) Effective for years a...

New Rules SEC i) Effective for years after December 15, 2006 ii) New Disclosures mandated (1) Fair value of options on grant date (2) Value of grant per 123R (3) Cl

Case law & study, Bakers Bagels LLC produces and sells 20 types of bagels b...

Bakers Bagels LLC produces and sells 20 types of bagels by the dozen. Bagels are priced at $6.00 per dozen (or $0.50 each) and cost $.020 per unit to produce. The company is consid

Financial information, The enhancing qualitative characteristic of understa...

The enhancing qualitative characteristic of understand ability means that information should be understood by a those who are experts int eh interpretation of financial information

Accounts, the salaries paid in 2004 is rs. 500000 salaries outstanding is r...

the salaries paid in 2004 is rs. 500000 salaries outstanding is rs.20000 salaries paid in advance for 2004 is rs 30000 what is the actual salary expenditure for 2004?

Illustration of double entry-branches, Illustration of double entry The ba...

Illustration of double entry The balances on the current accounts of a head office and branch were Ksh 698,000, before the transactions listed below: Normal 0

Write Your Message!

Captcha
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