Mgmt 200 Assignment Soln 4-6-11

Mgmt 200 Assignment Soln 4-6-11 - June 1, 2012 Dividends...

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Management 200 – Introductory Financial Accounting– Spring 2011 Krannert School of Management - Purdue University Solutions to class assignment for April 6, 2011 Exercise 10-9 March 1, 2012 Debit Credit Cash (55,000 x $52) 2,860,000 Common Stock (55,000 x $1) 55,000 Additional Paid-in Capital (difference) 2,805,000 (Issue common stock above par) May 10, 2012 Treasury Stock (5,000 shares x $55) 275,000 Cash 275,000 (Purchase treasury stock)
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Unformatted text preview: June 1, 2012 Dividends (150,000 shares x $1.50) 225,000 Dividends Payable 225,000 (Declare cash dividends) July 1, 2012 Dividends Payable (150,000 shares x $1.50) 225,000 Cash 225,000 (Pay cash dividends) October 21, 2012 Cash (2,500 shares x $60) 150,000 Treasury Stock (2,500 shares x $55) 137,500 Additional Paid-in Capital (2,500 x $5) (Reissue treasury stock) 12,500...
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