W2 Individual Assignment E15-18

W2 Individual Assignment E15-18 - Dividends Payable Common...

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Exercise 15-18 (a) 1 Dividends Payable - Preferred 20,000 Dividends Payable - Common 40,000 Cash 60,000 2 Treasury Stock 68,000 Cash 68,000 3 Land 30,000 Treasury Stock 28,000 Paid-in Capital - Treasury Stock 2,000 4 Cash 52,500 Preferred Stock 50,000 Paid-in Capital in Excess of Par - Preferred 2,500 5 Retained Earnings 85,500 Common Stock Dividend Distributable 9,500 Paid-in Capital in Excess of Par - Common 76,000 6 Common Stock Dividend Distributa 9,500 Common Stock 9,500 7 Retained Earnings 66,800 Dividends Payable - Preferred 25,000
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Unformatted text preview: Dividends Payable - Common 41,800 (b) Anne Cleves Company Stockholders' Equity December 31, 2007 Capital Stock Preferred stock, 10%, $100 par (10,000 shares authorized, 2,500 shares issued and outstanding) $250,000 Common stock, $5 par (100,000 shares authorized, 21,900 shares issued, 20,900 shares outstanding) 109,500 Total capital stock 359,500 Additional paid-in capital 205,500 Total paid-in capital 565,000 Retained earnings 627,700 Total paid-in capital and retained earnings 1,192,700 Cost of treasury stock (40,000) Total stockholders' equity ###...
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