exam 3 sep 2007

exam 3 sep 2007 - Issue Common Stock 10,000 shares Par...

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Journalize Each Transactions Debit Credit Issue Common Stock 10,000 shares Par value of $10.00 for $12.00 per share for cash Issued Preferred Stock ( Cummultive) 5,000 share pare value of $50.00 / 10% stock at $60.00 per share for cash
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Calculate Dividend for each year preferred and common Dividend Declared Preferred Stock Dividend Common Stock Dividend 2005 0.00 2006 $30,000.00 2007 $50,000.00 2008 $75,000.00 2009 $100,000.00 Issue Common Stock 10,000 shares Par value of $10.00 for $12.00 per share for cash Issued Preferred Stock ( Cummultive) 5,000 share pare value of $50.00 / 10% stock at $60.00 per share for cash
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General Instructions 1. Complete cash flow from operations using the following information. Sales revenue $500,000 Cost of goods sold 300,000 Gross profit $200,000 General and administrative expenses $50,000 Depreciation expense 100,000 Total expenses $150,000 Net income $50,000 For the Year Ended June 30, 2007
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June 30 2007 2006 Accounts receivable 90,000 75,000 Inventory 80,000
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This note was uploaded on 04/13/2008 for the course ACCT 201 taught by Professor Scconline during the Summer '07 term at UNL.

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exam 3 sep 2007 - Issue Common Stock 10,000 shares Par...

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