in January 1st 2003, Pisces issue ceres 10000 share for $400000 In cash meaning there are 120000 shares outstanding. Some additional information is on November 1st, 2023, (1)Pisces declares a total cash of $180000 (2) Pisces reports $225000 net income for 2023. it’s stock price on December 31, 2023 is $38 (3) On November 1, 2024, Pisces announces a total divend of $270000 to be paid on January 2, 2025 (4) Pisces reports $360000 net income for 2024. Its stock price on December 31, 2024 is $44. (Q1)Prepare the journal entries in ceres book for the 2023 calendar year. (Q2) prepare journal entries for 2024 and 2025 calendar year
in January 1st 2003, Pisces issue ceres 10000 share for $400000 In cash meaning there are 120000 shares outstanding. Some additional information is on November 1st, 2023, (1)Pisces declares a total cash of $180000 (2) Pisces reports $225000 net income for 2023. it’s stock price on December 31, 2023 is $38 (3) On November 1, 2024, Pisces announces a total divend of $270000 to be paid on January 2, 2025 (4) Pisces reports $360000 net income for 2024. Its stock price on December 31, 2024 is $44. (Q1)Prepare the journal entries in ceres book for the 2023 calendar year. (Q2) prepare journal entries for 2024 and 2025 calendar year
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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in January 1st 2003, Pisces issue ceres 10000 share for $400000 In cash meaning there are 120000 shares outstanding. Some additional information is on November 1st, 2023, (1)Pisces declares a total cash of $180000 (2) Pisces reports $225000 net income for 2023. it’s stock price on December 31, 2023 is $38 (3) On November 1, 2024, Pisces announces a total divend of $270000 to be paid on January 2, 2025 (4) Pisces reports $360000 net income for 2024. Its stock price on December 31, 2024 is $44.
(Q1)Prepare the
(Q2) prepare journal entries for 2024 and 2025 calendar year
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