Problems 11 - 3A and 8A solutions

Accounting: Tools for Business Decision Making

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PEPP COMPANY Partial Balance Sheet December 31, 2007 Stockholders’ equity Paid-in capital Capital stock 8% Preferred stock, $100 par value, cumulative, 100,000 shares issued and outstanding. ............................... $10,000,000 Common stock, $5 par value, 1,300,000 shares issued and 1,285,000 shares outstanding. ......... 6,500,000 Total capital stock. ............................... $16,500,000 Additional paid-in capital In excess of par value— preferred stock. ................................. 900,000 In excess of par value— common stock. .................................. 1,800,000 Total additional paid-in capital. ... 2,700,000 Total paid-in capital. ..................... 19,200,000 Retained earnings. .............................................. 2,458,000 * Total paid-in capital and retained earnings. ...................... 21,658,000 Less: Treasury stock-common (15,000 shares) . ................................................ (165,000
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Problems 11 - 3A and 8A solutions - PROBLEM 11-3A PEPP...

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