Common Stock, $10 stated value (500,000 shares authorized, 380,000 Issued) - $3,800,000.
Paid-In Capital in Excess of stated value - 760,000
Retained Earnings - 4,390,000
Trasury Stock (25,000 Sares, at cost) - 500,000
Transactions:
Jan. 10. Paid Cash Dividends of $0.20 per share on Common Stock for $71,000.
Mar.3. Issued 20,000 shares of common stock for $460,000.
Mar. 21. Sold all the treasury stock for $650,000.
July 1. Declared a 3% stock dividend on common stock, capitalized at $30 per share market value.
Aug.15. Issued certificates for the dividend from July 1.
Sept. 30. Purchased 10,000 shares of treasury stock for $230,000.
Dec. 27. Declared a $0.25-per-share dividend on common stock.
Dec.31. Closed the credit balance of the Income Summary account, $639,500.
Dec. 31 Closed the two dividends accounts to Retained Earnings.
Journalize the Transactions......
Okay, The Ones I Don't Get The Most are Transactions for Dec. 27, 31 and 31..Help Me With Those If You Can!!!!
2007-11-24
06:42:39
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4 answers
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asked by
Anonymous
in
Business & Finance
➔ Other - Business & Finance