quiz E- ANSWER - 157500 Common dividend

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ANSWERS TO QUIZ E 1-5ACCCA 6-10 CACBD 11-15 ECCCE PROBLEM 1. 2.a. Feb.15 Retained earnings …………………………………………200,000(5%*8*500,000) Common stock dividend distributable……………………. .125,000(5%*5*500,000) Paid-in capital in excess of par value, common stock………75,000 Mar 20, Common stock dividend distributable……………………. .125,000(5%*5*500,000) Common stock…………………………………………………125,000 May 1 outstanding shares=500,000+500,000*5%=525,000 Retained earnings…………………………………………………
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Unformatted text preview: 157500 Common dividend payable………………………………… 157500 (0.3*525,000) June 1 Common dividend payable………………………………… 157500 (0.3*525,000) Cash ……………………………………………………… .157500 b. 3. 4. Jan 1. Cash ………………………………………….442,647 Discount on bonds payable…………………….57,353(500,000-442,647) Bonds payable………………………………….500,000 (57353/10/2=2867.65)...
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This note was uploaded on 11/07/2010 for the course BBA 1023 taught by Professor Luoyi during the Spring '10 term at University of Macau.

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quiz E- ANSWER - 157500 Common dividend

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