EXERCISE 15-14 - .................. 2,000,000 Common Stock...

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EXERCISE 15-14 (10–12 minutes) (a) Retained Earnings (10,000 X $37). .................... 370,000 Common Stock Dividend Distributable. ..... 100,000 Paid-in Capital in Excess of Par . .................. 270,000 Common Stock Dividend Distributable . ......... 100,000 Common Stock. .................................................. 100,000 (b) Retained Earnings (200,000 X $10).
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Unformatted text preview: .................. 2,000,000 Common Stock Dividend Distributable. ..... 2,000,000 Common Stock Dividend Distributable . ......... 2,000,000 Common Stock. .................................................. 2,000,000 (c) No entry, the par value becomes $5 and the number of shares outstanding increases to 400,000....
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This note was uploaded on 01/31/2011 for the course ACCT 302 taught by Professor Leee during the Spring '10 term at Grand Rapids Community College.

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