On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income, to
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ACCOUNT Common Stock, $40 par ACCOUNT NO Balance Date Debit Credit Debit Credit 2016 Jan. Balance, 120,000 shares Apr June 30 4,400-share stock dividend 4,800,000 6,000,000 6,176,000 2 30,000 shares issued for cash 1,200,000 176,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Debit Credit Debit Credit 2016 Jan. Apr June 30 Stock dividend 1 Balance 2 30,000 shares issued for cash 360,000 1,080,000 1,194,400 720,000 114,400 ACCOUNT Retained Earnings ACCOUNT NO Balance Date Debit Debit Credit 2016 Jan June 30 Stock dividend Dec. 30 Cash dividend 1 Balance 2,000,000 1,709,560 1,246,360 2,686,360 290,440 31 Net income 1,440,000
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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