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Edit View History Bookmarks Profiles Tab Window Help ZOOM C Netflix gail Oforiwaa - help with F X iConnect - Home Content X M Question 9 - Chapter 12 & 13 X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducati... 12 & 13 Assignment Saved Alex Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$25 par value, 50,000 shares authorized, 34,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Book $ 850,000 68,000 354,000 $ 1,272,000 Hint Print ferences During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 3,400 shares of its own stock at $25 cash per share. January 7 February 28 July 9 August 27 September 9 October 22 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of. record. Paid the dividend declared on January 7. Sold 1,360 of its treasury shares at $30 cash per share.. Sold 1,700 of its treasury shares at $21 cash per share. Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. Paid the dividend declared on September 9. December 31 Closed the $56,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Mc Graw Hill C? 12.428 JUL 11 < Prev 9 of 9 Next tv ← --> C G Search or type URL ☆ A☹

Edit View History Bookmarks Profiles Tab Window Help ZOOM C Netflix gail Oforiwaa - help with F X iConnect - Home Content X M Question 9 - Chapter 12 & 13 X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducati... 12 & 13 Assignment Saved Alex Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$25 par value, 50,000 shares authorized, 34,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Book $ 850,000 68,000 354,000 $ 1,272,000 Hint Print ferences During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 3,400 shares of its own stock at $25 cash per share. January 7 February 28 July 9 August 27 September 9 October 22 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of. record. Paid the dividend declared on January 7. Sold 1,360 of its treasury shares at $30 cash per share.. Sold 1,700 of its treasury shares at $21 cash per share. Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. Paid the dividend declared on September 9. December 31 Closed the $56,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Mc Graw Hill C? 12.428 JUL 11 < Prev 9 of 9 Next tv ← --> C G Search or type URL ☆ A☹

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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Edit View History Bookmarks Profiles Tab Window Help ZOOM C Netflix gail Oforiwaa - help with F X iConnect - Home Content X M Question 9 - Chapter 12 & 13 X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducati... 12 & 13 Assignment Saved Alex Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$25 par value, 50,000 shares authorized, 34,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Book $ 850,000 68,000 354,000 $ 1,272,000 Hint Print ferences During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 3,400 shares of its own stock at $25 cash per share. January 7 February 28 July 9 August 27 September 9 October 22 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of. record. Paid the dividend declared on January 7. Sold 1,360 of its treasury shares at $30 cash per share.. Sold 1,700 of its treasury shares at $21 cash per share. Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. Paid the dividend declared on September 9. December 31 Closed the $56,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Mc Graw Hill C? 12.428 JUL 11 < Prev 9 of 9 Next tv ← --> C G Search or type URL ☆ A☹
Transcribed Image Text:Edit View History Bookmarks Profiles Tab Window Help ZOOM C Netflix gail Oforiwaa - help with F X iConnect - Home Content X M Question 9 - Chapter 12 & 13 X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducati... 12 & 13 Assignment Saved Alex Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$25 par value, 50,000 shares authorized, 34,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Book $ 850,000 68,000 354,000 $ 1,272,000 Hint Print ferences During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 3,400 shares of its own stock at $25 cash per share. January 7 February 28 July 9 August 27 September 9 October 22 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of. record. Paid the dividend declared on January 7. Sold 1,360 of its treasury shares at $30 cash per share.. Sold 1,700 of its treasury shares at $21 cash per share. Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. Paid the dividend declared on September 9. December 31 Closed the $56,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Mc Graw Hill C? 12.428 JUL 11 < Prev 9 of 9 Next tv ← --> C G Search or type URL ☆ A☹
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