Accounting Ch 12.xlsx

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Department
Financial Accounting
Course
MGAB02H3
Professor
G.Quan Fun
Semester
Winter

Description
Jan 1 2013, Sample company had the following: 1000 common shares outstanding 12000 5000 preferred shares outstanding $ 2 cum. 75000 (2 years div in arrears) 1 Issued 500 common shares ar $ 11 Dr Cash 5500 Cr Common shares 5500 2 Issued 300 shares for equipment with a PV of $ 9000. Shares were trading at $ 10 Dr Equipment 8000 Cr Common Shares 8000 3 Issued 1000 Preferred shares for $ 20 Dr Cash 20000 Cr Preferred Shares 20000 4 Purchased 100 ommon shares for cancellation for $ 10 Dr Common Shares 1108.69 Cr Cash 1000 Cr Contirbuted Surplus from repurchase of C/S 108.69 5 Declared and paid dividends of $ 37000 P/S dividends 5000*2 10000 (Dividends in arrear) 5000*2 10000 6000*2 12000 C/S dividends 5000 37000 Dr Cash dividends C/s
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