Acct 551 Week 5

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Week 5 Acct 551 15-13 (Stock Split and Stock Dividend) A Land 1,500,000 25,000*60 Treasury Stock 1,200,000 25,000*48 Paid in Capital Treasury 300,000 B The appraised value of the land is a good choice but it is based on the market. So to get more of a transaction them trading price of the stock is probably the best fit E15-15 (Dividend Entries) A Retained Earnings 117,000 60,000*39*5% Common Stock 30,000 Paid in Capital 87,000 Common Stock Dividend 30,000 Common Stock 30,000 B No entry is needed C Debt Investment 35,000 Unrealized holding gain or loss-Income 35,000 Retained Earnings 125,000 Property Dividends Payable 125,000 Property Payable 125,000 Debt Investment 125,000…show more content…
tockholders’ equity 1,119,900 Notes: 200,000+50,000=250,000 100,000+9,000=109,000 72,000+125,000+2,500+2,000=201,500 450,000-81,000-59,600+330,000=639,400 108,000-28,000=80,000 E15-23 (Preferred Stock Dividends) A B Preferred, Noncumulative, and Preferred, cumulative, and fully Nonparticipating participating Year Paid-Out Preferred Common Preferred Common 2011 12,000 4.80 0 4.80 0 2012 26,000 6 .73 7.20 .53 2013 52,000 6 2.47 13 1.30 2014 76,000 6 4.07 19 1.90 Notes: 12,000/2,500=4.80 15,000/2,500=6 26,000-15,000=11,000/15,000=.73 52,000-15,000=37,000/15,000=2.47 61,000/15,000=4.07 26,000-18,000=8,000/15,000=.53 3,000+15,000=18,000/2,500=7.20 2,500*100*.06=15,000 .07*250,000=17,500 15,000+17,500=32,500/2,500=13 15,000*.06*100=9,000 150,000*.07=10,500 9,000+10,500/15,000=1.30 52,000-15,000-9,000=28,000/400,000=7% 2,500*100*.06=15,000 76,000-15,000-9,000=52,000 52,000/15,000=400,000 52,000/400,000=13% 250,000*.13=32,500 150,000*.13=19,500 15,000+32,500=47,500/2,500=19

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