Question
The following information is from Princeton Companys comparative balance sheets. At December 31 Current Year Prior Year Common stock, $10 par value $ 143,000 $
The following information is from Princeton Companys comparative balance sheets.
| At December 31 | Current Year | Prior Year | ||
| Common stock, $10 par value | $ | 143,000 | $ | 134,000 |
| Paid-in capital in excess of par | 601,000 | 359,000 | ||
| Retained earnings | 347,500 | 321,500 | ||
The companys net income for the current year ended December 31 was $65,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. 2. Complete the T-account to calculate the cash paid for dividends during the current year..
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Leading The Digital Workforce Internal Audit And IT Audit
Authors: Jeffrey W. Brown
1st Edition
1032323736, 978-1032323732
