The stockholders' equity accounts of Windsor, Inc. on January 1, 2022, were as follows. Preferred Stock...
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The stockholders' equity accounts of Windsor, Inc. on January 1, 2022, were as follows. Preferred Stock (8%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($10 stated value, 800,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value - Common Stock Retained Earnings Treasury Stock (7,800 common shares) Mar 1 Issued 6,800 shares of common stock for $80 per share. June 22 Sept. 1 Oct. Dec. 1 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. 1 $415,000 31 1,400,000 57,000 870,000 740,000 62,400 Purchased 2,000 additional shares of common treasury stock at $11 per share. Declared a 8% cash dividend on preferred stock, payable October 1. Paid the dividend declared on September 1. Declared a $0.60 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Determined that net income for the year was $123,000. Paid the dividend declared on December 1. Date > Account Titles and Explanation (To paid the dividend declared on December 1) (To close net income) (To close dividends) Debit Credit The stockholders' equity accounts of Windsor, Inc. on January 1, 2022, were as follows. Preferred Stock (8%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($10 stated value, 800,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value - Common Stock Retained Earnings Treasury Stock (7,800 common shares) Mar 1 Issued 6,800 shares of common stock for $80 per share. June 22 Sept. 1 Oct. Dec. 1 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. 1 $415,000 31 1,400,000 57,000 870,000 740,000 62,400 Purchased 2,000 additional shares of common treasury stock at $11 per share. Declared a 8% cash dividend on preferred stock, payable October 1. Paid the dividend declared on September 1. Declared a $0.60 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Determined that net income for the year was $123,000. Paid the dividend declared on December 1. Date > Account Titles and Explanation (To paid the dividend declared on December 1) (To close net income) (To close dividends) Debit Credit
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina
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