PROBLEM 15-1 - J ai ro M a r molejos I n te rmediate Accounting Homework Chapter 15 P roblem 15-1 A Janua ry 1 Cash(20,000*16 Common stock

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Unformatted text preview: J ai ro M a r molejos I n te rmediate Accounting Homework Chapter 15 P roblem 15-1 A) Janua ry 1 Cash(20,000*16) Common stock ( 20,000*10) Paid in capital in excess of par common $120,000 $320,000 $200,000 Februa ry 1 M achine ry Factory building Land P refer red stock(4,000*100) Paid in capital in excess of par -prefer red $80,000 $50,000 $160,00 $270,000 $400,000 J uly 29 T reasury stock(18,00*17) Cash $30,600 $30,600 August 10 Cash(1,800*14) Retained e arnings(1,800*3) T reasury stock $30,600 $25,200 $5,400 December 31 Retained earnings Cash dividend payable common(20,000*.25) Cash dividend payable p refer red ( 4,000*100*8%) $32,000 $37,000 $5,000 December 31 I ncome summa ry Retained earnings $175,700 $175,700 B) P H E LPS CORPORAT ION Stockholders’ Equity December 31, 2010 C apital stock Preferred stock—par value $100 per share, 8% cumulative and nonparticipating, 5,000 shares authorized, 4,000 shares issued and outstanding $400,000 Common stock—par value $10 per share, 50,000 shares authorized, 20,000 shares issued and outstanding 200,000 Total capital stock 600,000 Additional paid-in capitalss Paid-in capital in excess of par—preferred Paid-in capital in excess of par—common 80,000** 120,000* 200,000 Total paid-in capital 800,000 Retained earnings 133,300* Total stockholders’ equity $933,300 Note: ( 20,000* 16-10)= 120,000* you can see January fi rst to see that amount. * *80,000, see February first to see that amount. Retained earnings: *($175,700 – $5,400 – $37,000)= 133,300 ...
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This note was uploaded on 02/10/2011 for the course ACCT-202 Intermedia taught by Professor Jailenburn during the Spring '11 term at Casper College.

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PROBLEM 15-1 - J ai ro M a r molejos I n te rmediate Accounting Homework Chapter 15 P roblem 15-1 A Janua ry 1 Cash(20,000*16 Common stock

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