E15-18 - E15-18 (LO 4, 7, 8) (Dividends and Stockholders'...

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E15-18 amounts in the stockholders' equity section of its December 31, 2006, balance sheet. Preferred stock, 10%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (100,000 shares authorized, 20,000 shares issued) 100,000 Additional paid-in capital 125,000 Additional paid-in capital 450,000 Total $875,000 During 2007, Cleves took part in the following transactions concerning stockholders' equity. 1 Paid the annual 2006 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2006. 2 Purchased 1,700 shares of its own outstanding common stock for $40 per share. Cleves uses the cost method 3 Reissued 700 treasury shares for land valued at $30,000. 4 Issued 500 shares of preferred stock at $105 per share. 5 Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $45 per share 6 Issued the stock dividend 7 Declared the annual 2007 $10 per share dividend on preferred stock and the $2 per share
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This note was uploaded on 08/14/2011 for the course ACCT 423 taught by Professor R.becksted during the Spring '09 term at University of Phoenix.

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E15-18 - E15-18 (LO 4, 7, 8) (Dividends and Stockholders'...

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