Accounting E14-14, SQ #2, P14-1A - 60,000 Cash 60,000 Apr....

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E14-14 Net income  800,000   240,000   560,000  Preferred dividends  1,000,000   80,000  Outstanding shares  200,000  EPS  480,000  2.40
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Supplemental Question #2 1 (a) cumulative 5000 max 2008 2009 2010 Preferred stock 5000 max 4,000 1,000 5,000 5,000 Common stock 4,000 15,000 4,000 10,000 20,000 (b) non cumulative 2008 2009 2010 Preferred Stock 4,000 5,000 5,000 Cumulative stock 5,000 15,000 4,000 10,000 20,000
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2 Dec. 22 Retained Earnings 20,000 Dividends Payable 20,000 Jan. 11 Dividends Payable 20,000 Cash 20,000
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(a) Feb. 1 Retained Earnings  60,000  Dividends Payable  60,000  Mar. 1 Dividends Payable
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Unformatted text preview: 60,000 Cash 60,000 Apr. 1 No entry shares outstanding goes from 60,000 to 120,000 and $20 par value goes to $10 par value Jul. 1 Retained Earnings 156,000 Common Stock 120,000 PIC 36,000 31 Common Stock 120,000 Common Stock 120,000 Dec. 1 Retained Earnings 66,000 Dividends Payable 66,000 31 Income Summary 350,000 Retained Earnings 350,000 (c ) Stockholders' equity PIC Common stock 1,320,000 APIC 236,000 Total PIC 1,556,000 Retained Earnings 668,000 Total PIC 2,224,000...
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This note was uploaded on 03/28/2011 for the course ACCOUNTING 101 taught by Professor Bob during the Spring '10 term at Rowan-Cabarrus Community College.

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Accounting E14-14, SQ #2, P14-1A - 60,000 Cash 60,000 Apr....

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