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looking for Retained earbings at the end of the year Homework #9: Chapter 10 1. ChwelveCo was incorporated on January 1 of Year 1. Below
looking for Retained earbings at the end of the year
Homework \#9: Chapter 10 1. ChwelveCo was incorporated on January 1 of Year 1. Below are a number of equity-related transactions made by ChwelveCo in Year 1. January 13: Authorized 400,000 shares of common stock with a par value of $1 and 10,000 shares of 3% preferred stock with a par value of $100. February 11: Issued 200,000 shares of common stock at a price of $14/ share February 27: Issued 5,000 shares of preferred stock at a price of $200/ share June 18: Repurchased 10,000 shares of common stock for $8/ share July 7: Declared a cash dividend on all outstanding shares of preferred stock July 8: Declared a $15/ share cash dividend on all outstanding shares of common stock August 17: Resold the 10,000 shares that had previously been repurchased on June 18. The total cash received from this sale of stock was $100,000. September 25: Paid the cash dividend to preferred stockholders Homework \#9: Chapter 10 1. ChwelveCo was incorporated on January 1 of Year 1. Below are a number of equity-related transactions made by ChwelveCo in Year 1. January 13: Authorized 400,000 shares of common stock with a par value of $1 and 10,000 shares of 3% preferred stock with a par value of $100. February 11: Issued 200,000 shares of common stock at a price of $14/ share February 27: Issued 5,000 shares of preferred stock at a price of $200/ share June 18: Repurchased 10,000 shares of common stock for $8/ share July 7: Declared a cash dividend on all outstanding shares of preferred stock July 8: Declared a $15/ share cash dividend on all outstanding shares of common stock August 17: Resold the 10,000 shares that had previously been repurchased on June 18. The total cash received from this sale of stock was $100,000. September 25: Paid the cash dividend to preferred stockholders Step by Step Solution
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