{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

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

Info icon This preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
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
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
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
Image of page 2
2 Dec. 22 Retained Earnings 20,000 Dividends Payable 20,000 Jan. 11 Dividends Payable 20,000 Cash 20,000
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
P14-1A (a)&(c) (a) Feb. 1 Retained Earnings  60,000  Dividends Payable  60,000  Mar. 1 Dividends Payable
Image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

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...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern