Wildhorse Company reported the following amounts in the stockholders' equity section of its December 3 1 ,
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Question:
Wildhorse Company reported the following amounts in the stockholders' equity section of its December balance sheet.
Preferred stock, $ par shares authorized, shares issued
$
Common stock, $ par shares authorized, shares issued
Additional paidin capital
Retained earnings
Total
$
During Wildhorse took part in the following transactions concerning stockholders' equity.
Paid the annual $ per share dividend on preferred stock and a $ per share dividend on common stock. These dividends had been declared on December
Purchased shares of its own outstanding common stock for $ per share. Wildhorse uses the cost method.
Reissued treasury shares for land valued at $
Issued shares of preferred stock at $ per share.
Declared a stock dividend on the outstanding common stock when the stock is selling for $ per share.
Issued the stock dividend.
Declared the annual $ per share dividend on preferred stock and the $ per share dividend on common stock. These dividends are payable in Prepare journal entries to record the transactions described above. List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts.
Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
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