Week 4 problems

Week 4 problems - $828,400.00 Less: Treasury stocks (Note...

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Problem 15-2 a) 1-Feb Treasury Stock* $36,000.00 Cash $36,000.00 1-Mar Cash $13,600.00 Retained earning $800.00 Treasury Stock $14,400.00 18-Mar Cash $7,000.00 Retained earning $2,000.00 Treasury Stock $9,000.00 22-Apr Cash $12,000.00 Treasury Stock $10,800.00 Paid-in Capital from Treasury Stock $1,200.00 Notes: Since there is no paid-in capital credit balance, the original reissues (at less than par value) was recorded as a Debit to the Retain b) Stockholder's Equity *20,000-2,000+ $100,000.00 99500 Additional Paid-in Capital in excess of par $300,000.00 Paid-in Capital from Treasury Stock $1,200.00 Total Paid-In capital $401,200.00 Retained earning (Note 1) $427,200.00
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Unformatted text preview: $828,400.00 Less: Treasury stocks (Note 2) $1,800.00 Total Stockholder equity $826,600.00 Common Stock (20,000 shares issued at $5 par, 19900 outstanding* ed Earnings account. Pg 737-738 800+500+600 Note 1 Retained Earning (1/1/07) $320,000.00 Reissue of stocks 3/1/07 $(800.00) Decrease in liability acct Reissue of stocks 3/18/07 $(2,000.00) Net Income as of 4/30/07 $110,000.00 Retained Earning (4/31/07) $427,200.00 Note 2 Treasury Stock 1/1/07 $- Treasury stock purchase 2/1 $36,000.00 Reissue 3/1/07 $(14,400.00) Reissue 3/18/07 $(9,000.00) Reissue 4/22/07 $(10,800.00) Treasury stock 4/30/07 $1,800.00...
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Week 4 problems - $828,400.00 Less: Treasury stocks (Note...

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