Question
I did most of the work, but i don't know a few, and i can't get how to get them. Can you help me fill
I did most of the work, but i don't know a few, and i can't get how to get them. Can you help me fill in the ones with question marks next to it. Don't copy and paste another question from yahoo, because they aren't identical. Just please help!!!
The stockholders equity accounts of Miley Corporation on January 1, 2014, were as follows.
Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized) = $300,000
Common Stock ($4 stated value, 300,000 shares authorized) =1,000,000
Paid-in Capital in Excess of Par ValuePreferred Stock) =15,000
Paid-in Capital in Excess of Stated ValueCommon Stock = 480,000
Retained Earnings =688,000
Treasury Stock(5,000 common shares) = 40,000
During 2014, the corporation had the following transactions and events pertaining to its stockholders equity.
Feb. 1 Issued 5,000 shares of common stock for $30,000.
Mar. 20 Purchased 1,000 additional shares of common treasury stock at $7 per share.
Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1.
Nov. 1 Paid the dividend declared on October 1.
Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2014.
Dec. 31 Determined that net income for the year was $280,000. Paid the dividend declared on December 1.
Feb 1
Cash 30,000
Common Stock 20,000
Pain in-capital in excess 10,000
Mar 20
Treasury stock 7,000
Cash 7,000
Oct 1
Cash dividends 21,000
Dividends payable 21,000
Nov 1
Dividends payable ?
Cash ?
Dec 1
Cash dividends ?
Dividends payable ?
Dec 31
Income summery 280,000
Retained earnings 280,000
Dec 31
Retained earnings ?
Cash dividends ?
Dec 31
Dividends payable ?
Cash ?
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