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I just need help with the last part of the question!! Metlock Company reported the following amounts in the stockholders' equity section of its December
I just need help with the last part of the question!!
Metlock Company reported the following amounts in the stockholders' equity section of its December balance sheet.
Preferred stock, $ par shares authorized, shares issued $
During Metlock took part in the following transactions concerning stockholders' equity.
Paid the annual $ per share dividend on preferred stock and a $ per share dividend on common stock. These
dividends had been declared on December
Purchased shares of its own outstanding common stock for $ per share. Metlock uses the cost method.
Reissued treasury shares for land valued at $
Issued shares of preferred stock at $ per share.
Declared a stock dividend on the outstanding common stock when the stock is selling for $ per share.
Issued the stock dividend.
Declared the annual $ per share dividend on preferred stock and the $ per share dividend on common stock. These
dividends are payable in V Your answer is correct.
Prepare journal entries to record the transactions described above. List all debit entries before credit entries. Credit account titles are
automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles
and enter for the amounts.
No Account Titles and Explanation
Credit
Dluldends Fayable Preferred Stock
PaldIn Capltal from Treasury Stock
PaldIn Capital In Excess of Par Preferred Stock
Common Stock Dlvidend Distrlbutable
FaldIn Capltal In Excess of Par Common Stock
Common Stock
Retalned Earnings
Dluldends Payable Preferred Stock
Your answer is partially correct.
Prepare the December stockholders' equity section. Assume net income was $Enter account name only
Do not provide any descriptive information.
METLOCK COMPANY
Stockholders' Equity
December
Capital Stock
Preferred Stock
Common Stock
Total Capital Stock
Additional Paidin Capital
Retained Earnings
Total Paidin Capital and Retained Earnings
Total Stockholders' Equity
$ Prepare the December stockholders' equity section. Assume net income was $Enter account name only
Do not provide any descriptive information.
METLOCK COMPANY
Stockholders' Equity
December
$
al Paidin Capital
$Prepare the December stockholders' equity section. Assume net income was $Enter account name only
Do not provide any descriptive information.
METLOCK COMPANY
Stockholders' Equity
December
$
al Paidin Capital
$
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