Ch 14 Homework part II

Ch 14 Homework part II - E145 Journal POST. DATE...

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E 14-5 Journal DATE ACCOUNTS AND EXPLANATIONS POST. REF. DEBIT CREDIT Feb. 4 Cash (20,000 × $15) 300,000 Common Stock 300,000 Issued no-par common stock. Apr. 22 Treasury Stock (1,000 × $14) 14,000 Cash 14,000 Purchased treasury stock. Aug. 22 Cash (600 × $20) 12,000 Treasury Stock (600 × $14) 8,400 Paid-in Capital from Treasury Stock Transactions 3,600 Sold treasury stock. E 14-6 Journal DATE ACCOUNTS AND EXPLANATIONS POST. REF. DEBIT CREDIT Dec. 1 Treasury Stock (5,000 × $10) 50,000 Cash 50,000 Purchased treasury stock. Stockholders’ equity Paid-in capital: Common stock, $5 par, 500,000 shares authorized, 50,000 shares issued $250,000 Paid-in capital in excess of par 150,000 Total paid-in capital 400,000 Retained earnings 520,000 Subtotal 920,000 Less: Treasury stock (5,000 shares at cost) (50,000 ) Total stockholders’ equity $870,000
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E 14-10 Earnings per share: Income from continuing operations [($110,000 – $5,000) / 50,000] $2.10 Loss on discontinued operations ($8,000 /
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This note was uploaded on 04/15/2009 for the course ACCOUNTING BUSI0027 taught by Professor Guan during the Spring '09 term at HKU.

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Ch 14 Homework part II - E145 Journal POST. DATE...

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