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Chapter 11 HW - Student Name Ankita Shah Class Financial...

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Student Name: Ankita Shah Class: Financial Accounting Problem 11.4A BARNES COMMUNICATIONS, INC. General Journal Account Titles Debit Credit Jan. 6 Cash 280,000 Common Stock 40,000 «- Correct! Additional Paid-in Capital: Common Stock 240,000 «- Correct! 7 Organization Costs 7,000 Common Stock 1,000 «- Correct! Additional Paid-in Capital: Common Stock 6,000 «- Correct! 12 Cash 250,000 10% Cumulative Preferred Stock 250,000 «- Correct! June 4 Land 225,000 Common Stock 30,000 «- Correct! Additional Paid-in Capital: Common Stock 195,000 «- Correct! Nov. 15 Dividends (Preferred Stock) 25,000 Dividends Payable 25,000 «- Correct! Dec. 20 Dividends Payable 25,000 Cash 25,000 «- Correct! 31 Income Summary 147,200 Retained Earnings 147,200 «- Correct! 31 Retained Earnings 25,000 Dividends 25,000 «- Correct! BARNES COMMUNICATIONS, INC. Partial Balance Sheet December 31, 20__ Stockholders' equity: 10% cumulative preferred stock, $100 par, authorized 50,000 shares, issued 2,500 shares $250,000 Common stock, $2 par, authorized 400,000 shares, issued 35,500 shares 71,000 Additional paid-in capital, common stock 441,000 Total paid-in capital $512,000 Retained earnings 122,200 Total stockholders' equity $884,200 «- Correct!
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Given Data P11-04: BARNES COMMUNICATIONS, INC.
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