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Problem 4A (5 points) Corporation began 2015 with the following account balances. Common stock, $20 par, 100,000 shares authorized, 75,000 outstanding $1,500,000 Paid-in capital in
Problem 4A (5 points) Corporation began 2015 with the following account balances. Common stock, $20 par, 100,000 shares authorized, 75,000 outstanding $1,500,000 Paid-in capital in excess of par - common 500,000 Retained earnings 750,000 Alamo completed the following transactions in January, 2015. Prepare journal entries for these transactions. Jan. 10 Reacquired 5,000 shares of its stock for $30 per share. Jan. 20 Sold 2,000 shares of treasury stock for $33 per share. Jan. 30 Sold the remaining shares of treasury stock for $25 per share. | Problem 4B (5 points) Prepare entries for the following transactions. The corporation declared the required cash dividend for $750,000 of $100 par, 6% cumulative preferred stock, 7,500 shares issued. Dec. 5 The corporation declared a $.40 dividend on 130,000 shares of common stock. Dec. 20 The corporation paid the dividends declared on December 5. Dec. 31 The corporation sold 5,000 shares of $10 par value common stock for $20 per share
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