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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, $775,000.31. Closed the two dividends accounts to retained earnings.ENTER INTO ACCOUNTS.It grades as I go and everything I enter into it is wrong. Im so lost any help is greatly appreciated!
The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31, 2013 ($ in 000s): sales revenue, $
Most firms build and keep inventories in the course of doing business. Manufacturing firms hold raw material, finished goods and spares and work in process in inventories. Financia
1. An organization owes £300,000 tax at 1.7.X4 and £450,000 at 30.6.X5. Its income statement for the year to 30.6.X5 includes a tax charge of £400,000. How much tax was actually pa
#question.how a contra might arise.
what are the effects of failure to adjust entries
Define Accruals or accrued charges What are Accruals or accrued charges - Expenses that are done for the current accounting period which have not yet been paid. These are someti
Part I: Wal-Mart Stores Inc.'s income statement and balance sheet are attached. Gather relevant information from the financial statements to calculate the financial ratios, and co
Group retained profits Retained profits ideally should be the amounts that can be distributed as dividends. Therefore, in arriving at group retained profits, careful attention s
Grants are not necessarily recognized as revenue when they are awarded. Columbus City was awarded a state reimbursement grant of $150,000 to assist its adult literacy program. The
XYZ Company is a large manufacturer of auto parts for the auto manufacturers and parts distributors. XYZ has plants throughout the world, but most are located in North America. XYZ
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