Question
at the end of 2013, haley corp. had the following equipty accounts and balances common stock, $10 par $800,000 Additional paid in capital-common stock $200,000
at the end of 2013, haley corp. had the following equipty accounts and balances
common stock, $10 par $800,000
Additional paid in capital-common stock $200,000
retained earnings $279,000
During 2014, Haley engaged in the following transactions involving its equity accounts:
a.Sold 5,000 shares of common stock for $19 per share.
b.Sold 1,200 shares of 12%, $50 par preferred stock at $75 per share.
c.Declared and paid cash dividends of $22,000.
d.Repurchased 1,000 shares of treasury stock (common) for $24 per share.
e.Sold 300 of the treasury shares for $26 per share.
Required:
1. Prepare the journal entries for Transactions a through e. For a compound transaction
2. Assume that 2014 net income was $123,700. Prepare a statement of stockholders' equity at December 31, 2014.
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