Chapter 10 Stock Transactions and Investments

Chapter 10 Stock Transactions and Investments - Stock...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1. We sell 10,000 shares of $2 par c/s for $60,000, prepare the entry 2. We sell 20,000 shares of no par c/s for $80,000, prepare the entry 3. We sell 5,000 shares of $100 par Pf stock $800,000, prepare the entry 4. On October 1 st , we declare a $2 dividend w/ a November 5 th date of record and a November 7 th payment date. We have 100,000 share issued and 30,000 outstanding. Prepare any necessary journal entries. 5. We have 10,000 shares of 10%, $2 par cumulative Pf stock outstanding and 5,000 shares of common stock outstanding. We did not pay dividends in 2000, 2001 2002, 2003, 2004 or 2005. In 2006, we declare a $10,000 dividend. How much will each class of stock receive in 2006? How much would each class receive if the Pf stock were non-cumulative? 6. We buy 1,000 shares of our OWN $5 par c/s for $10 each. Prepare the entry. Then we sell 200 shares of those shares for $18 each. Prepare the entry. Then we sell 100 shares of those shares for $8 each.
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

Chapter 10 Stock Transactions and Investments - Stock...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online