P15-1 - Total Capital Stock Additional paid-in capital Excess over par preferred $80,000 Excess over par common $120,000 $200,000 Total Paid-in

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A.) Common Stock: Authorized 50,000 Preferred Stock Authorized 5,000 Dr. Cr. 1/11/2010 Cash $320,000 Common Stock $200,000 $120,000 2/1/2011 Machinery $50,000 Factory Building $160,000 Land $270,000 Preferred Stock $400,000 $80,000 7/29/2010 Treasury Stock $30,600 Cash $30,600 8/10/2010 Cash $25,200 Paid in Capital from Treasury Stock $5,400 Treasury Stock $30,600 12/31/2010 Retained Earnings $37,000 $5,000 $32,000 12/31/2010 Income Summary $175,700 Retained Earnings $175,700 B.) Phelps Corporation Stockholders' Equity December 31, 2010 Capital Stock Preferred Stock, $100 par, 8%, 5,000 authorized and 4,000 shares outstanding Common Stock, $10 par, 50,000 authorized and 20,000 shares outstanding
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Unformatted text preview: Total Capital Stock Additional paid-in capital Excess over par - preferred $80,000 Excess over par - common $120,000 $200,000 Total Paid-in Capital Retained Earnings Total Paid in Capital and Retained earnings Less: Cost of Treasury Stock Total Stockholders' Equity Paid In Capital in Excess of Par - Common Stock Paid in Capital in Excess of Par - Preferred Stock Dividends Payable - Common Stock Dividends Payable - Preferred Stock Par Value $10 Par Value $100 8% $400,000 $200,000 $600,000 $800,000 $138,700 $938,700 $(5,400) $933,300...
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This note was uploaded on 05/01/2011 for the course FINANCE 516 taught by Professor Anderson during the Spring '11 term at Keller Graduate School of Management.

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P15-1 - Total Capital Stock Additional paid-in capital Excess over par preferred $80,000 Excess over par common $120,000 $200,000 Total Paid-in

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