Mgmt 200 Assignment Soln 4-11-11

Mgmt 200 Assignment Soln 4-11-11 - Management 200...

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Management 200 – Introductory Financial Accounting– Spring 2011 Krannert School of Management - Purdue University Solutions to class assignment for April 11, 2011 Additional Perspective 10-1 Requirement 1 July 2, 2014 Debit Credit Cash (100,000 x $12) 1,200,000 Common Stock (100,000 x $1) 100,000 Additional Paid-in Capital (difference) 1,100,000 (Issue common stock above par) September 10, 2014 Treasury Stock (10,000 shares x $15) 150,000 Cash 150,000 (Purchase treasury stock) November 15, 2014 Cash (5,000 shares x $16) 80,000 Treasury Stock (5,000 shares x $15) 75,000 Additional Paid-in Capital (5,000 x $1) 5,000 (Reissue treasury stock above cost) December 1, 2014 Retained Earnings 115,000 Dividends Payable 115,000 (Declare cash dividends) December 31, 2014 Dividends Payable 115,000 Cash 115,000 (Pay cash dividends)
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Requirement 2 Great Adventures, Inc. Balance Sheet (Stockholders’ Equity Section) December 31, 2014 Stockholders’ equity: Common stock, $1 par value $120,000 Additional paid-in capital
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This note was uploaded on 02/27/2012 for the course MGMT 200 taught by Professor Greigg during the Spring '08 term at Purdue University.

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Mgmt 200 Assignment Soln 4-11-11 - Management 200...

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