Chapter%2013%20-%20In-Class%20Exercises%20-%20Solution%20#2

Chapter%2013%20-%20In-Class%20Exercises%20-%20Solution%20#2...

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Unformatted text preview: In‐Class Exercises Exercise 2: December 31, 2010 Compensation Expense (24,000 x $5 / 3) Paid‐In Capital from Stock Options February 3, 2011 Dividends (or Retained Earnings) Dividends Payable Retained Earnings (1,000,000 x 5% x $30) Stock Dividends Distributable Paid‐In Capital in Excess of Par March 1, 2011 Dividends Payable Cash Stock Dividends Distributable Common Stock December 31, 2011 Compensation Expense (24,000 x $5 / 3) Paid‐In Capital from Stock Options February 3, 2012 Dividends (or Retained Earnings) (1,050,000 x 0.34) Dividends Payable Retained Earnings (1,050,000 x 2% x $36) Stock Dividends Distributable Paid‐In Capital in Excess of Par March 1, 2012 Dividends Payable Cash Stock Dividends Distributable Common Stock December 31, 2012 Compensation Expense (24,000 x $5 / 3) Paid‐In Capital from Stock Options January 3, 2013 Cash (23,000 x $25) Paid‐In Capital from Stock Options (23,000 x $5) Common Stock Paid‐In Capital in Excess of Par December 31, 2013 Paid‐In Capital from Stock Options (1,000 x $5) Paid‐In Capital from Expired Options 40,000 Chapter 13 40,000 450,000 450,000 1,500,000 50,000 1,450,000 450,000 450,000 50,000 50,000 40,000 40,000 357,000 357,000 756,000 21,000 735,000 357,000 357,000 21,000 21,000 40,000 40,000 575,000 115,000 23,000 667,000 5,000 5,000 ACCT 4050 Page 3 of 3 Chapter 13 ‐ In‐Class Exercises ...
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This note was uploaded on 04/06/2011 for the course ACCT 4050 taught by Professor Rodney during the Spring '11 term at University of Georgia Athens.

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