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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!
State the term Reliability- Accounting Information Accounting must be free from significant error or bias. It must be capable of being relied upon by managers to represent
Suppose you get a cash bonus of Rs.1, 00,000 that you deposit in a bank that pays 10 % annual interest. How much can you withdraw yearly for a period of 10 years? Solution :
Provisions of the Partnership Act In the event of absence of a partnership agreement/deed or in the event of ambiguity therein, the provisions to the partnership Act will apply
Joe Shareholder owns 100 shares of Peach Company stock which is currently selling for $100 per share. Peach declares a 2-1 stock split. How much are Joe's shares worth after the st
You are the CFO of Diversi?ed Industries. Diversi?ed has suffered through 4 or 5 tough years. This has deteriorated its ? financial condition to the point that Diversi?ed is in dan
how to do it in samply form?
Q. What is Leveraged Lease? Leveraged Lease - Transaction under which LESSOR borrows funds to acquire property which is leased to a third party. Property and lease rentals are
Extent of Tests of Control -Every year AUDITOR should obtain sufficient evidence about whether company's internal control over financial reporting, including controls for all inter
Show that if an investment of P dollars declines by 4% during a year , the balance at the end of the year is P(1-.04) that is P(.96) ?
Q. Theoretical value of shareholding? (i) Theoretical value of shareholding Theoretical ex-rights value = ((No. shares in issue×Market value) + (No. rights shares× righ
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