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On January 1, 2012, Magnus Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred:
Mar. 1 Issued 25,000 shares of common stock for $550,000.June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15.June 30 Paid the $2.00 cash dividend.Dec. 1 Purchased 5,000 shares of common stock for the treasury for $22 per share.Dec. 15 Declared a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31.
Instructions
Prepare journal entries to record the above transactions.
A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders'
stpes to be taken prepaing for final accounts
Q. Example of Unearned service fees? Unearned service fees On December 7 Micro Train Company received USD 4500 from a customer in payment for future training services. The firm
How To figure the discount using calculator 1. Be sure that decimal selector is on 2 decimal places 2. Key in amount of the sale 3. Multiply by percent (use the percent key)
A company uses 85 circuit boards a day in a manufacturing process. The person who orders the boards follows this rule: Order when the amount on hand drops to 625 boards. Orders are
The list of accounts below and the unadjusted balances of these accounts were taken from the ledger of the Manville Corporation at the end of their accounting period, March 31,
Cost sheet is sheet Where all the cost should be recorded which related to the produc.
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Assume we had given tour advance to party how to treat entry and which head have to given expenditure? Ans) Cash/Bank a/c DR To Party(name)a/c (Advance Paid For Tour)
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