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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!
According to the FASB, the usefulness of accounting is judged by which of the following two qualitative characteristics of accounting information? Comparability and neutrality Unde
My company agreed to clean a store for $1,375 per month. A check for $700 was received from the store as a deposit. What do I need to debit and credit in a general ledger?
what is closing entry
Wendy is evaluating a capital budgeting project that should last for 4 years. The project requires $ 800,000 of equipment. She is unsure what depreciation method to use in her anal
COMMITTEE OF INSPECTION Appointment : A committee of inspection may be appointed by the creditors at their first or any subsequent meeting to supervise the trustee.
Exceptions to the rule of lapse There is no lapse in either of the following cases: 1. Where the gift or disposition is made in discharge of a moral obligation recognised by t
Q. Evaluate Price Earnings Ratio? The P/E ratio is in general regarded as an important ratio for equity investors. The P/E for a company may be utilizing as a basis for compari
conduct a-what-if-analysis
You have recently been promoted to assistant audit manager in SHAUNA & Co, a firm of Chartered Certified Accountants. Your first assignment in this new role is to supervise the aud
A) A portfolio's daily changes have a standard deviation of $15 million. Suppose the daily changes in the portfolio's value have a first order serial correlation of 0.25. Calculat
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