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I am trying to find retained earnings for this intermediate accounting III problem. Here is a screenshot of the information provided. Chapter 16, Problem 14P
I am trying to find retained earnings for this intermediate accounting III problem.
Here is a screenshot of the information provided.
Chapter 16, Problem 14P Show all steps ON Bookmark Contributed Capital Preferred stock, 8%, $100 par Common stock, $10 par Additional paid-in capital on preferred stock Additional paid-in capital on common stock Total contributed capital $120,000 180,000 21,600 90,000 $411,600 230,000 Retained eamings Accumulated other comprehensive income: Unrealized increase in value of available-for-sale securities Total contributed capital, retained earnings, and accumulated other comprehensive income Less: Treasury stock (2,000 shares of common at $21 per share, acquired on March 3, 2012 6,000 $647,600 (42,000) $605,600 Total Shareholders' Equity The following stock transactions occurred during 2013 Jan. 4 30 Paid the annual 2012 per share dividend on preferred stock and the $2-per-share dividend on Issued 3,000 shares of common stock at $25 per share common stock. These dividends had been declared on December 31, 2012. Mar. May June July Issued 400 shares of preferred stock at $125 per share Reissued 600 shares of treasury stock at $24 per share 7 15 2 Split the common stock two for one, reducing the par value to $5 per share Declared a 5% stock dividend on the outstanding common stock, to be issued on August 3.The stock is selling for $14 per share Aug. 3 Issued the stock dividend. Oct. 1 Declared a property dividend payable to common shareholders on November 1. The dividencd consists of 2,000 shares of an investment in Lamb Company available-for-sale common stock, which had been acquired at a cost of $12 per share and which have a carrying value of $15 per share. The stock is currently selling for $16 per share Issued the property dividend to common shareholders. Declared the annual per share dividend on the outstanding preferred stock and a $1-per-share dividend on the outstanding common stock, to be paid on January 30, 2014. Nov. Dec. 1 31 Required 1. Prepare journal entries to record the preceding transactionsStep by Step Solution
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