PROBLEM 15-1 - PROBLEM 15­1 (a) January 11 Cash (20,000 X...

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PROBLEM 15-1 (a) January 11 Cash (20,000 X $16). .................................................. 320,000 Common Stock ($20,000 X $5) . ....................... 100,000 Paid-in Capital in Excess of Par—Common. ... 220,000 February 1 Machinery. ................................................................. 50,000 Factory Building. ....................................................... 110,000 Land. ........................................................................... 270,000 Preferred Stock ($4,000 X $100). ...................... 400,000 Paid-in Capital in Excess of Par—Preferred. .. 30,000 July 29 Treasury Stock (1,800 X $19). ................................... 34,200 Cash. ................................................................... 34,200 August 10 Cash (1,800 X $14). .................................................... 25,200* Retained Earnings (1,800 X $5). ............................... 9,000* Treasury Stock. .................................................. 34,200
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PROBLEM 15-1 - PROBLEM 15­1 (a) January 11 Cash (20,000 X...

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