TEMPLATE #3

TEMPLATE #3 - December 31, 2010 Capital Stock Preferred...

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Page 1 Phelps Corporation Stockholders Equity Journal Entries For Year Ended December 31, 2010 Journal Entries Date Accounts Debit Credit 1/11/2010 Cash 320,000 Common Stock 200,000 Paid-in Capital in Excess of Par-Common 120,000 2/1/2010 Machinery Factory Building Land Preferred Stock Paid-in Capital in Excess of Par-Preferred 7/29/2010 Treasury Stock Cash 8/10/2010 Cash ? Treasury Stock 12/31/2010 Retained Earnings Cash Dividend Payable-Common Cash Dividen Payable-Preferred 12/31/2010 Income Summary Retained Earnings
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Page 2 Phelps Corporation Stockholders Equity
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Unformatted text preview: December 31, 2010 Capital 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- Total capital stock $- Additional Paid-in Capital Paid-in capital in excess of par-preferred- Paid-in capital in excess of par-common- Total paid-in capital- Retained Earnings- Total stockholders equity $933,300...
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TEMPLATE #3 - December 31, 2010 Capital Stock Preferred...

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