Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

------------------------------------------------------------------------------ during 20XX transaction: Jan 2. $10 per share for a 1000 shares of com. stock were issued. -- Feb 16. $8 per share for

image text in transcribed

------------------------------------------------------------------------------

during 20XX transaction:

Jan 2. $10 per share for a 1000 shares of com. stock were issued. -- Feb 16. $8 per share for a 2000 share com.stock issued. -- Mar. 1 a $0.20 per share cash dividened declared, dated to be paid on Mar. 30. date record is Mar. 16. -- Mar. 30 paid cash div -- Nov 2. Company annocunced 1% dividend on every com.stock outstanding. Current market val was $8 per share on this date. Date or record Nov.15 -- Dec.2 Company bought back 5000 shares of thier own at $12 per share. --Dec. 21. The company sold treasury stock 300 shares at $14 per share.

record entries.

Balance sheet for company for 12/31/20XX shows the following: Com. Stock; $1 par value;11000000 shares authorized,8000000 shares issued outstanding $8,000,000 Paid-in excess par value 200,000 Retain earns 800,000,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing SAP S 4HANA

Authors: Steve Biskie

1st Edition

1493222643, 978-1493222643

More Books

Students also viewed these Accounting questions

Question

Write a letter asking them to refund your $1,500 down payment.

Answered: 1 week ago