E15-18 - E15-18 (Dividends and Stockholders' Equity...

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E15-18 (Dividends and Stockholders' Equity Section) Elizabeth Company reported the following amounts in the stockholders' equity section of its December 31, 2012, balance sheet. Preferred stock, 8%, $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 Retained earnings 450,000 Total $875,000 During 2013, Elizabeth took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2012 $8 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2012. 2. Purchased 2,700 shares of its own outstanding common stock for $40 per share. Elizabeth 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.
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E15-18 - E15-18 (Dividends and Stockholders' Equity...

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