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need help on the acount balances. it would be very helpful if someone put the equations on how you got the total. thank you so
need help on the acount balances. it would be very helpful if someone put the equations on how you got the total. thank you so much!
UN 2 4 6 8 10 11 12 13 Exer 2 - Record the following in the general journal: 3/1. Your Co. issued 800 shares of preferred stock ($1 per share par value ) and received a total of $6400. 5/8- Your Co, issued 4000 shares of common stock ($2 per share par value) and received a total of $100000. 7/5. Your Co. declared a dividend of $0.5 per share on its $2 per share par value common stock. It issued 40000 shares, authorized 120000,& 20000 shares are outstanding. 9/8- Your Co. purchased back 600 shares of its own common stock (par value of $2 per share) paying a total of $18000. 12/1 - Your Co. paid $7200 in dividends declared last year. General Journal Date Account/Explanation PR Debit Credit 3717202X Cash 6,400 Preferred Stock 800 Paid in Capital Excess Par-Preferred 5,600 (issue 800 shares preferred stock) 14 100,000 5787202X Cash Common Stock Paid in Capital Excess Par-Common (Issue 4000 shares common stock) 8,000 92,000 7/5/202X Retained Earnings Dividends Payable X X 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 (Declare $0.50 per share dividend) 978/202X Treasury Stock Cash XX (Purchase back Your Co stock) 12/1/202X Dividends Payable Cash X X (Pay dividends) 36 37 Step by Step Solution
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