Solution Graded Assignment _3 - Chap 15

Solution Graded - Graded Assignment#3 Equity Chapter 15 Due to edit Master subtitle ClickMonday style Item(a Retained Earnings 175,000,000

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Click to edit Master subtitle style Graded Assignment #3 Equity – Chapter 15 Due Monday Feb 15, 2010
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Item (a) 11/2/06 Retained Earnings 175,000,000 Dividends Payable 175,000,000 To record the declaration of cash dividends. (350,000,000 shares x $.50) 12/2/06 Dividends Payable 175,000,000 Cash 175,000,000 To record the payment of cash dividends.
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ABC Corp. Stockholders’ Equity Section of Balance Sheet 12/31/06 Common Stock, 350 million shares issued and outstanding, $1 par $ 350,000,000 APIC – common stock 1,890,000,000 Retained earnings 7,725,000,000 Total stockholders’ equity $9,965,000,000
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Item (b) 3/3/2007 Investment in Blair Bonds 800,000 Unrealized gain 800,000 To record the appreciation on the investment. Retained earnings 4,800,000 Property dividends payable 4,800,000 To record the declaration of the property dividend. 4/6/07 Property dividends payable 4,800,000 Investment in Blair Bonds 4,800,000 To record the distribution of the property dividend.
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Item (c) 7/13/07 Retained earnings
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This note was uploaded on 03/16/2010 for the course BUSACC 1205 taught by Professor Boyas during the Spring '10 term at Pittsburgh.

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Solution Graded - Graded Assignment#3 Equity Chapter 15 Due to edit Master subtitle ClickMonday style Item(a Retained Earnings 175,000,000

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