LMN, Inc. reports the following stockholders' equity information at 12/31/20: Common stock $25 par, 50,000 shares...

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LMN, Inc. reports the following stockholders' equity information at 12/31/20: Common stock $25 par, 50,000 shares authorized, 30,000 shares issued and outstanding Additional Paid-in Capital in excess of Par - Common Stock Retained Earnings Total Stockholders' Equity 1/1/21 The board of directors declared a $1.75 cash dividend. The dividend is payable on 1/31/21 to the 1/15/21 stockholders of record. 1/31/21 Paid the cash dividend. Using the T-account template below (or prepare an "equation" presentation using a spreadsheet format), prepare the entries to recognize the 3/1/21 issuance. Property, Plant & ASSETS = Non-current Assets LIABILITIES 750,000 50,000 340,000 1,140,000 Non- Current + Current Intangible Current Contributed Assets Equipment Investments Assets/Other Liabilities Liabilities Capital EQUITY Earned Capital Accumulated OCI LMN, Inc. reports the following stockholders' equity information at 12/31/20: Common stock $25 par, 50,000 shares authorized, 30,000 shares issued and outstanding Additional Paid-in Capital in excess of Par - Common Stock Retained Earnings Total Stockholders' Equity 1/1/21 The board of directors declared a $1.75 cash dividend. The dividend is payable on 1/31/21 to the 1/15/21 stockholders of record. 1/31/21 Paid the cash dividend. Using the T-account template below (or prepare an "equation" presentation using a spreadsheet format), prepare the entries to recognize the 3/1/21 issuance. Property, Plant & ASSETS = Non-current Assets LIABILITIES 750,000 50,000 340,000 1,140,000 Non- Current + Current Intangible Current Contributed Assets Equipment Investments Assets/Other Liabilities Liabilities Capital EQUITY Earned Capital Accumulated OCI

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LMN Inc TAccount Worksheet 1121 13121 Assets Liabilities Equity Common Stoc... View the full answer