CH15-1 - E15-2 Abernathy Crporation Journal Entries 2010...

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E15-2 Abernathy Crporation Journal Entries 2010 Jan. 10Cash 400,000 Common stock (80,000 x$3) 160,000 240,000 Mar. 1 Cash 540,000 Preferred stock (5,000 x $50) 250,000 290,000 Apr. 1 Land 80,000 48,000 32,000 May 1 Cash 560,000 160,000 400,000 Aug. 1Organize expense 50,000 Common Stock (10,000 x $2) 20,000 30,000 Sept. 1Cash (10,000 x $9) 90,000 Common Stock (10,000 x $2) 20,000 70,000 Nov.1 Cash (1,000 x $112) 112,000 Preferred stock (1,000 x $50) 50,000 62,000 Paid-in Captial in Excess of Stated Value --Common stock (80,000 x $3) Paid-in Captial in Excess of Stated Value -- Preferred stock (50,000 x $8) (24,000shares x Paid-in Capital in Excess of Stated Value -- Common stock ($80,000 - $48,000) (24,000shares x Paid-in Capital in Excess of Stated Value -- Common stock (80,000 x $5) Paid-in Capital in Excess of Stated Value -- Common stock ($50,000 - $20,000) Paid-in Capital in Excess of Stated Value -- Common stock (10,000 x $7) Paid-in Capital in Excess of Stated Value -- Preferred stock (1,000 x $62)
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E15-14 Lawrence Company Journal Entries 2010 a. Retained earnings (200,000x5%x37) 370,000 100,000 Paid-in capital in excess of par 270,000 Common stock dividend distributable 100,000 Common stock 100,000 b. Retained earnings
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CH15-1 - E15-2 Abernathy Crporation Journal Entries 2010...

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