EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 6% preferred stock. It is also authorized to issue 1,750,000 shares of $1 par value common stock. Using the following accounts, complete the transactions below: Preferred Stock Additional Paid-in Capital from Common Stock Cash Dividends Payable Cash Treasury Stock Additional Paid-in Capital from Preferred Stock Additional Paid-in Capital from Treasury Stock Retained Earnings Common Stock PLEASE NOTE: For accounts having similar accounting treatment (DR or CR), you are to record accounts in the same order as shown in the textbook. You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). Mar. 01 - Purchased 1,000 shares of its own common stock at $11 per share. DR CR Apr. 10 - Reissued 500 shares of its common stock held in the treasury for $15 per share. DR CR CR Jun. 12 - Reissued 500 shares of common stock at $9 per share. DR DR CR
EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 6% preferred stock. It is also authorized to issue 1,750,000 shares of $1 par value common stock. Using the following accounts, complete the transactions below: Preferred Stock Additional Paid-in Capital from Common Stock Cash Dividends Payable Cash Treasury Stock Additional Paid-in Capital from Preferred Stock Additional Paid-in Capital from Treasury Stock Retained Earnings Common Stock PLEASE NOTE: For accounts having similar accounting treatment (DR or CR), you are to record accounts in the same order as shown in the textbook. You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). Mar. 01 - Purchased 1,000 shares of its own common stock at $11 per share. DR CR Apr. 10 - Reissued 500 shares of its common stock held in the treasury for $15 per share. DR CR CR Jun. 12 - Reissued 500 shares of common stock at $9 per share. DR DR CR
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 9PA: Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 500,000...
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9. EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 6%
Preferred Stock | Additional Paid-in Capital from Common Stock | Cash Dividends Payable |
Cash | Additional Paid-in Capital from Preferred Stock | |
Additional Paid-in Capital from Treasury Stock | Common Stock |
PLEASE NOTE: For accounts having similar accounting treatment (DR or CR), you are to record accounts in the same order as shown in the textbook. You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345).
- Mar. 01 - Purchased 1,000 shares of its own common stock at $11 per share.
-
DR CR - Apr. 10 - Reissued 500 shares of its common stock held in the treasury for $15 per share.
-
DR CR CR - Jun. 12 - Reissued 500 shares of common stock at $9 per share.
-
DR DR CR
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