
1.
Cash dividends: The amount of cash provided by a corporation out of its distributable profits to its shareholders as a return for the amount invested by them is referred as cash dividends.
Stock Dividends: It refers to the payment of dividends by a company to its existing shareholders, in the form of additional shares rather than cash. Stock dividends are paid, when there is an inadequate cash available in the company.
To record: the dividends and treasury stock transactions for Company C.
2.
To prepare: a
3.
To Prepare: the

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Chapter 13 Solutions
Horngren's Financial & Managerial Accounting The Financial Chapters (6th Edition)
- PROBLEM E Mulles, the owner of a successful fertilizer business, felt that it is time to expand operations. Mulles offered to form a partnership with Lucena, the owner of a nearby warehouse. The partnership would be called Mulles & Lucena Storage and Sales. Lucena accepted Mulles' offer and the partnership was formed on July 1,2024. Presented below is the trial balance for Mulles Fertilizer Supply on June 30, 2024: Cash Accounts Receivable Allowance for Uncollectible Accounts. Inventory Prepaid Rent Store Equipment Accumulated Depreciation Notes Payable Accounts Payable Mulles, Capital Total P 229,500 2,103,000 P 117,000 1,012,500 29,250 390,000 P3,764,250 97,500 330,000 505,500 2,714,250 P3,764,250 The partners agreed to share profits and losses equally and decided to invest an equal amount in the partnership. Lucena and Mulles agreed that Lucena's land is worth P500,000 and his building P1,450,000. Lucena is to contribute cash in an amount sufficient to make his capital account…arrow_forwardPLEASE HELP. ALL RED CELLS ARE INCORRECT. NOTICE, REVENUE ACCOUNTS ARE IN THE DROPDOWN!arrow_forwardJournalize these transactions, also post the transcations to T-accounts and determine month-end balances. Finally prepare a trail balance.arrow_forward
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