ACCT 221 Answer Sheet Quiz 1B (1)

ACCT 221 Answer Sheet Quiz 1B (1) - Acct 221 Quiz 1 Problem...

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Acct 221 Quiz 1 Problem 1 Student Name: ACCT 221 Quiz # 1 ANSWER SHEET FOR PROBLEM 1B Problem 1 DATE 1/10/2016 Cash Common stock $10 par value Paid in capital in excess of par-common stock (issue of 200,000 shares @$16) 01/25/2016 Preliminary expenses Common stock $10 par value Paid in capital in excess of Par0common stock (issue of 1000 shares @$20 to law firm against fees dues) 06/10/2016 Retained earnings Dividend payable (dividend declared @ $0.50 per share) 07/15/2016 Retained payable cash (cash paid for dividend) 09/15/2016 Retained earnings Common stock dividend distributable Paid in capital in excess of par-/common stock ( declaration of 10% stock dividend market price being $15) 09/30/2016 Common stock dividend distributable Common stock $10 per value (issue of stock against stock dividend) 10/15/2016 Treasury stock Cash (purchase of treasury stock- 500 shares @ $18) 12/18/2016 cash Treasury stock Paid in capital in excess of par-treasury stock DATE 1/10/2016 Cash Common stock $10 par value Paid in capital in excess of par-common stock (issue of 200,000 shares @$16) 01/25/2016 Preliminary expenses Common stock $10 par value Paid in capital in excess of Par0common stock (issue of 1000 shares @$20 to law firm against fees dues) 06/10/2016 Retained earnings Dividend payable (dividend declared @ $0.50 per share) 07/15/2016 Retained payable cash (cash paid for dividend) 09/15/2016 Retained earnings Common stock dividend distributable Paid in capital in excess of par-/common stock ( declaration of 10% stock dividend market price being $15) 09/30/2016 Common stock dividend distributable Common stock $10 per value (issue of stock against stock dividend) 10/15/2016 Treasury stock Cash (purchase of treasury stock- 500 shares @ $18) 12/18/2016 cash Treasury stock Paid in capital in excess of par-treasury stock DATE 1/10/2016 Cash Common stock $10 par value Paid in capital in excess of par-common stock (issue of 200,000 shares @$16) 01/25/2016 Preliminary expenses Common stock $10 par value Paid in capital in excess of Par0common stock (issue of 1000 shares @$20 to law firm against fees du 06/10/2016 Retained earnings Dividend payable (dividend declared @ $0.50 per share) 07/15/2016 Retained payable cash (cash paid for dividend) 09/15/2016 Retained earnings Common stock dividend distributable Paid in capital in excess of par-/common stock ( declaration of 10% stock dividend market price b $15) 09/30/2016 Common stock dividend distributable Common stock $10 per value (issue of stock against stock dividend) 10/15/2016 Treasury stock Cash (purchase of treasury stock- 500 shares @ $18) 12/18/2016 cash Treasury stock Paid in capital in excess of par-treasury stock DATE 1/10/2016 Cash Common stock $10 pa Paid in capital in exces (issue of 200,000 share 01/25/2016 Preliminary expenses Common stock $10 pa Paid in capital in exces (issue of 1000 shares @$ 06/10/2016 Retained earnings Dividend payable (dividend declared @ $ 07/15/2016 Retained payable cash (cash paid for dividend 09/15/2016 Retained earnings Common stock dividen Paid in capital in exces ( declaration of 10% st $15) 09/30/2016 Common stock dividen Common stock $10 pe (issue of stock against 10/15/2016 Treasury stock Cash (purchase of treasury s 12/18/2016 cash Treasury stock Paid in capital in exce
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Acct 221 Quiz 1 Problem 1 Student Name:
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