Information from the shareholders equity footnote for Mendes Manufacturing follows. Required Prepare the journal entries for 2015
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Prepare the journal entries for 2015 and 2016 to reflect the treasury stock transactions included in the footnote provided above.
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Additional Paid-in Capital from Treasury Stock Transactions 2016 2015 2014 Balance at January 1 Increase in equity on treasury stock dispositions Decrease in equity on treasury stock dispositions Balance at December 31 S 20,996 $20,746 $20,032 5,538 250 714 S 26,534 2016 $ 99,823 20,183 10,313) $109,693 $20,996 $20,746 2015 2014 $82,570 17000 Retained Eamings Balance at January 1 Net earnings Dividends Balance at December 31 $90.951 18,283 9,311) $99,823 8,719) $90,851 2014 32,299 3,421 Common Stock Heid in Treasury 2016 2015 Balance at January 1 Purchases Dispositions Balance at December 31 S 29,516 $31,952 1,412 3,948) $29,516 2,270 (16,472) s 15.314 3,768) $31.952
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Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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