P13-3A - ANSWER KEY: PROBLEM 13-3A (a) Feb. 1 Cash. Common...

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PROBLEM 13-3A (a) Feb. 1 Cash. ......................................................... 120,000 Common Stock (25,000 X $1). ........ 25,000 Paid-in Capital in Excess of Stated Value—Common Stock ($120,000 – $25,000). ......... 95,000 Apr. 14 Cash. ......................................................... 33,000 Paid-in Capital from Treasury Stock—Common ($33,000 – $30,000). ..................... 3,000 Treasury Stock—Common (6,000 X $5). .................................. 30,000 Sept. 3 Patent. ....................................................... 35,000 Common Stock (5,000 X $1). .......... 5,000 Paid-in Capital in Excess of Stated Value—Common Stock ($35,000 – $5,000). ............. 30,000 Nov. 10 Treasury Stock—Common. .................... 6,000 Cash. ................................................. 6,000 Dec. 31 Income Summary. ................................... 452,000 Retained Earnings. .......................... 452,000
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This note was uploaded on 02/09/2012 for the course ACCT 202 taught by Professor Notsure during the Spring '11 term at Davenport.

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P13-3A - ANSWER KEY: PROBLEM 13-3A (a) Feb. 1 Cash. Common...

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