During its first year of operations sitwell

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During its first year of operations, Sitwell Corporation had the following transactions pertaining to its common stock. (a) Prepare the journal entries for these transactions, assuming that the common stock has a par (b) Prepare the journal entries for these transactions, assuming that the common stock is no par
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b4e522ab9b94d1b1e1a5748e90c5a99c0ceb3f83.xlsx, Exercise 15-15 Solution, Page 3 of 8, 03/29/2012, 01:32:33 Name: Solution Date: Instructor: Course: Current assets $540,000 Investments $624,000 Common stock, (par value $10) $600,000 Paid-in capital in excess of par $150,000 Retained earnings $840,000 Instructions: Prepare the required journal entries for the following unrelated items: 5% stock dividend is declared and distributed at a time when the market value of the shares is $39 per share. Retained Earnings (60,000 × 5.00 × $39.00) 117,000 Common Stock Dividend Distributable 30,000 Paid-in Capital in Excess of Par - Common Stock 87,000 Common Stock Dividend Distributable 30,000 Common Stock 30,000 $2 with a 5-for-1 stock split The bonds have a book value of $90,000 and a fair value of $125,000 Jan 05, 13 Debt Investments 35,000 Unrealized Holding Gain or Loss - Income 35,000 Jan 05, 13 Retained Earnings 125,000 Property Dividends Payable 125,000 Jan 25, 13 Property Dividends Payable 125,000 Debt Investments 125,000 Intermediate Accounting , 14 th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse E15-15 (Dividend Entries) The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2012. (a) A (b) The par value of the capital stock is reduced to No entry, memorandum note to indicate that par value is reduced to $2 and shares outstanding are now 300,000 (60,000 × 5). (c) A dividend is declared January 5, 2013, and paid January 25, 2013, in bonds held as an investment.
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b4e522ab9b94d1b1e1a5748e90c5a99c0ceb3f83.xlsx, Exercise 15-15, Page 4 of 8, 03/29/2012, 01:32:33 Name: Date: Instructor: Course: Current assets $540,000 Investments $624,000 Common stock, (par value $10) $600,000 Paid-in capital in excess of par $150,000 Retained earnings $840,000 Instructions: Prepare the required journal entries for the following unrelated items: 5% stock dividend is declared and distributed at a time when the market value of the shares is $39 per share. Account Title Formula Account Title Formula Account Title Formula Account Title Amount Account Title Amount $2 with a 5-for-1 stock split Text entry as appropriate. The bonds have a book value of $90,000 and a fair value of $125,000 Jan 05, 13 Account Title Amount Account Title Amount Jan 05, 13 Account Title Amount Account Title Amount Jan 25, 13 Account Title Amount Account Title Amount Intermediate Accounting , 14 th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse E15-15 (Dividend Entries) The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2012. (a) A (b) The par value of the capital stock is reduced to (c) A dividend is declared January 5, 2013, and paid January 25, 2013, in bonds held as an investment.
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b4e522ab9b94d1b1e1a5748e90c5a99c0ceb3f83.xlsx, Problem 15-1 Solution, Page 5 of 8, 03/29/2012, 01:32:33 Name: Solution Date: Instructor: Course: received a charter granting the right to issue 5,000
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