Unformatted text preview: account. 3. Plant assets costing $98,000 were purchased by paying $48,000 in cash and issuing 5,000 shares of stock. 4. The “other expenses” are related to prepaid items. 5. All income taxes incurred during the year were paid during the year. 6. In order to supplement its cash, Winston issued 4,000 shares of common stock at par value. 7. There were no penalties assessed for the retirement of bonds. 8. Cash dividends of $105,000 were declared and paid at the end of the fiscal year....
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This note was uploaded on 02/19/2010 for the course ACC 421 taught by Professor Unknown during the Spring '10 term at University of Phoenix.
- Spring '10