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Required Information Required Informatlon [ The following information applies to the questions displayed below. ] Refer to the following transactions. a . Sold 4 ,
Required Information Required Informatlon
The following information applies to the questions displayed below.
Refer to the following transactions.
a Sold previously unissued shares of $ par value common stock for $ per share.
b Issued shares of previously unissued cumulative preferred stock, $ par value, in exchange for land and a
building appraised at $
c Declared and paid the annual cash dividend on the preferred stock issued in transaction b
d Purchased shares of common stock for the treasury at a total cost of $
e Declared a cash dividend of $ per share on the common stock outstanding.
f Sold shares of the treasury stock purchased in transaction d at a price of $ per share.
g Declared and issued a stock dividend on the common stock issued when the market value per share of common
stock was $
h Split the common stock for
Prepare the journal entries to record each of the above transactions. You should assume that the transactions occurred in this
chronological sequence and that shares of previously issued common stock remain outstanding. Hint: Remember to consider
appropriate effects of previous transactions.If no entry ls requlred for a transactlonevent select No journal entry requlred" In the
first account fleld.
Journal entry worksheet
Record the sale of previously unissued shares of $ par value common
stock for $ per share.
Note: Enter debits before credits.
The following information applies to the questions displayed below.
Refer to the following transactions.
a Sold previously unissued shares of $ par value common stock for $ per share.
b Issued shares of previously unissued cumulative preferred stock, $ par value, in exchange for land and a
building appraised at $
c Declared and paid the annual cash dividend on the preferred stock issued in transaction b
d Purchased shares of common stock for the treasury at a total cost of $
e Declared a cash dividend of $ per share on the common stock outstanding.
f Sold shares of the treasury stock purchased in transaction d at a price of $ per share.
g Declared and issued a stock dividend on the common stock issued when the market value per share of common
stock was $
h Split the common stock for
Required:
Show the effect if any of each of the above transactions on each financial statement category by selecting a plus or minus and
the amount in the appropriate column. Do not show items that affect net income in the retained earnings column. You should assume
that the transactions occurred in this chronological sequence and that shares of previously issued common stock remain
outstanding. Hint: Remember to consider appropriate effects of previous transactions.
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