On January 1. 2(Hih. Galactica Corporation had the following stockholders' equitv accounts. During the vear. the following
Question:
On January 1. 2(Hih. Galactica Corporation had the following stockholders' equitv accounts.
During the vear. the following transactions occurred.
Instructions
(a) Journalize the transactions and closing entries.
(b) Enter the beginning balances and post the entries to the stockholders' equity accounts.
(Note: Open additional stockholders' equity accounts as needed.)
(c) Prepare a stockholders' equity section at December 31.
Transcribed Image Text:
Common Stock ($20 par value. 60.000 shares issued and outstanding) $1.200,000 Paid-in Capital in Excess of Par Value 200.000 Retained Earnings 500,000
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Related Book For
Financial Accounting Text Only
ISBN: 9780006575405
5th Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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