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The following selected information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10 par value Paid-in capital in excess of par
The following selected information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10 par value Paid-in capital in excess of par Retained earnings 2018 $ 146, 000 603, 000 349, 500 2017 $ 136, 000 360, 000 323, 500 The company's net income for the year ended December 31, 2018, was $66,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2018. 2. Complete the T-account to calculate the cash paid for dividends during 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the T-accounts to calculate the cash received from the sale of its common stock during 2018. Common Stock, $10 Par 136,000 Beg. bal. Issuance of common stock End. bal. 136,000 Paid-in Capital in Excess of Par Beg. bal. End, bal, Cash received The following selected information is from Princeton Company's comparative balance sheets. 2017 At December 31 2018 $ 146, 000 Common stock, $10 par value Paid-in capital in excess of par Retained earnings $ 136, 000 603, 000 349, 500 360, 000 323, 500 The company's net income for the year ended December 31, 2018, was $66,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2018. 2. Complete the T-account to calculate the cash paid for dividends during 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the T-account to calculate the cash paid for dividends during 2018. Retained Earnings Beg. bal. End, bal.
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