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Current Attempt in Progress On January 1, 2025, Carla Vista Corporation had 93,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Issued 108,000 shares of common stock for $810,000 Declared a cash dividend of $2 per share to stockholders of record on June 15. Paid the $2 cash dividend 1 Purchased 6,000 shares of common stock for the treasury for $18 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31. Mar 1 June 1 June 30 Dec. Net Income for 2025 totaled $1.086,000

Current Attempt in Progress On January 1, 2025, Carla Vista Corporation had 93,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Issued 108,000 shares of common stock for $810,000 Declared a cash dividend of $2 per share to stockholders of record on June 15. Paid the $2 cash dividend 1 Purchased 6,000 shares of common stock for the treasury for $18 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31. Mar 1 June 1 June 30 Dec. Net Income for 2025 totaled $1.086,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Current Attempt in Progress On January 1, 2025, Carla Vista Corporation had 93,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Issued 108,000 shares of common stock for $810,000. Declared a cash dividend of $2 per share to stockholders of record on June 15. Paid the $2 cash dividend. June 30 Dec. 1 Purchased 6,000 shares of common stock for the treasury for $18 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31. Mar. 1 June 1 Net Income for 2025 totaled $1.086,000
Transcribed Image Text:Current Attempt in Progress On January 1, 2025, Carla Vista Corporation had 93,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Issued 108,000 shares of common stock for $810,000. Declared a cash dividend of $2 per share to stockholders of record on June 15. Paid the $2 cash dividend. June 30 Dec. 1 Purchased 6,000 shares of common stock for the treasury for $18 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31. Mar. 1 June 1 Net Income for 2025 totaled $1.086,000
Date Mar. 1 June 11 June 30 Dec. 1 Dec. 15 V Account Titles and Explanation Cash Common Stock Paid-in Capital in Excess of Par-Common Stock Cash Dividends Dividends Payable Dividends Payable Cash Treasury Stock Cash Cash Dividends Dividends Payable Debit Credit
Transcribed Image Text:Date Mar. 1 June 11 June 30 Dec. 1 Dec. 15 V Account Titles and Explanation Cash Common Stock Paid-in Capital in Excess of Par-Common Stock Cash Dividends Dividends Payable Dividends Payable Cash Treasury Stock Cash Cash Dividends Dividends Payable Debit Credit
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