The stockholders' equity of Pagach Company at December 31, 2008, appears below. During 2009 , the following

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The stockholders' equity of Pagach Company at December 31, 2008, appears below.

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During 2009 , the following transactions occurred:
May 12 Declared and issued a $7 \%$ stock dividend; the common stock market value was $\$ 18$ per share Dec. 31 Declared and paid a cash dividend of 75 cents per share.

a. Use the financial statement effects template to indicate the effects of these transactions.

b. Reconcile retained earnings for 2009 assuming that the company reports 2009 net income of $\$ 283,000$

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Financial Accounting For MBAs

ISBN: 9781934319345

4th Edition

Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally

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The stockholders' equity of Pagach Company at December 31, 2008, appears below. During 2009 , the following

Question:

Common stock, $10 par value, 200,000 shares authorized; 80,000 shares issued and outstanding.... $800,000 Paid-in capital in excess of par value.. 480,000 Retained earnings... 305,000

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Financial Accounting For MBAs

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