Enter the transactions in the journalsprepare the

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Reference no: EM13581454

On January 1, 2013 Company had the following account balances.

Common stock, $1.00 par value, 100,000 shares issued & outstanding $100,000

Capital paid in excess of par $900,000

Retained earnings $600,000

During the year:

On March 1, Company issued 20,000 new shares at $12 per share.
On June 30, company paid $1.00 cash dividend on all outstanding shares
On Nov 1, company purchased 10,000 treasury stock for $90,000
The net income for the year = $220,000

REQUIRED:

Enter the transactions in the journals.
Prepare the Stockholders' Equity section of the balance sheet as of 12/31/2013.

Reference no: EM13581454

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