Question: September 2008. Sep. 1 Issued 12,000 shares of $1 par value common stock for $82 per
Question:
Question: September 2008.\\nSep. 1 Issued 12,000 shares of $1 par value common stock for $82 per share.\\nSep. 2 Declared a 20 percent stock dividend. There were 42,000 shares of common stock outstanding trading at a market price of $84 per share.\\nSep. 12 Issued 4,200 shares of common stock in exchange for land valued at $368,000.\\nSep. 18
September 2008.\\nSep. 1 Issued 12,000 shares of
$1
par value common stock for
$82
per share.\\nSep. 2 Declared a 20 percent stock dividend. There were 42,000 shares of common stock outstanding trading at a market price of
$84
per share.\\nSep. 12 Issued 4,200 shares of common stock in exchange for land valued at
$368,000
.\\nSep. 18 Declared a
$160,200
cash dividend on common stock.\\nSep. 30 Distributed the stock dividend declared on September 2nd.\\n1\\nSep. 30 Paid the cash dividend declared on September 18th.\\nSaddlebrook Co.'s net income was
$118,400
in September, while the beginning balan in retained earnings account was
$812,200
.\\nRequired:\\nPrepare journal entries to record each of the transactions above for September 2008.\\nPrepare a statement of retained earnings for the month ending September 30, 2008.
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura