FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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El Cemí Enterprises
Common Stock, $8 par value (800,000) Shares authorized
500,000 shares issued......................................................................$5,600,000
Paid in Capital in Excess of Par-Common Stock.............................. $650,000
Additional information:
Transactions during the year
January 3 - Paid cash dividens at $0.15 each common stock. The cash dividends were registered in last year declaration for $67,500.
March 20 - The company issued 80,000 common stock for $1,100,000.
May 5 - The company declared 3% of common stock dividend. The market stock rate is at $15 each share.
July 8 - Company sold all their Treasury stocks for $820,000
September 4 - Company issued the certificates for May 5 declared dividends.
November 12 - Company purchased 20,000 of treasury stocks for $400,000
December 24 - Company declared a cash dividend of $0.17 per common stock
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