GL1101 (Algo) - Based on Problem 11-2A LO C3, P2, P3 Delray Company reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During the year, the following transactions affected its stockholders' equity accounts. $ 500,000 75,000 410,000 $ 985,000 January 2 Purchased 5,000 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. ebruary 28 Paid the dividend declared on January 5. Sold 2,500 of its July 6 treasury shares at $27 cash per share. August 22 Sold 2,500 of its treasury shares at $19 cash per share. eptember 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September 5. 21 Cloond the $259 500 credit balance from net income in the Income Summary account to Retained Earnings.
GL1101 (Algo) - Based on Problem 11-2A LO C3, P2, P3 Delray Company reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During the year, the following transactions affected its stockholders' equity accounts. $ 500,000 75,000 410,000 $ 985,000 January 2 Purchased 5,000 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. ebruary 28 Paid the dividend declared on January 5. Sold 2,500 of its July 6 treasury shares at $27 cash per share. August 22 Sold 2,500 of its treasury shares at $19 cash per share. eptember 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September 5. 21 Cloond the $259 500 credit balance from net income in the Income Summary account to Retained Earnings.
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter12: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 3PA: Selected stock transactions The following selected accounts appear in the ledger of Parks...
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It says 285,000 part and the (100,000) part is incorrect please fix thank you.
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