EXERCISE 15-15 - Investments (Bonds) .

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EXERCISE 15-15 (10–15 minutes) (a) Retained Earnings. .................................................... 117,000 Common Stock Dividend Distributable. ... 30,000 Paid-in Capital in Excess of Par . ................ 87,000 (60,000 shares X 5% X $39 = $117,000) Common Stock Dividend Distributable. ............. 30,000 Common Stock. ................................................ 30,000 (b) No entry, memorandum note to indicate that par value is reduced to $2 and shares outstanding are now 300,000 (60,000 X 5). (c) January 5, 2011
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Unformatted text preview: Investments (Bonds) . ............................................... 35,000 Gain on Appreciation of Investments (Bonds). ........................................................... 35,000 Retained Earnings. .................................................... 125,000 Property Dividends Payable . ....................... 125,000 January 25, 2011 Property Dividends Payable. .................................. 125,000 Investments (Bonds) . ..................................... 125,000...
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