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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Subject: acounting

Transcribed Image Text:A company reported the following in its stockholders' equity section on its December 31, 2021 balance sheet:
Common stock (100,000 shares authorized,
$1 par value, 60,000 shares issued)
Additional paid-in capital
Total contributed capital
Retained earnings
Treasury stock
Total stockholders' equity
$60,000
400,000
460,000
700,000
0
$1,160,000
During 2022, the company had the following transactions/events:
a. The company reported net income of $20,000
b. The company declared a cash dividend of $4,000 on November 30, 2021
c. The date of record is December 7, 2021
d. The company paid the cash dividend on December 15, 2021
e. The company issued 8,000 shares of common stock, receiving $40,000
f. The company purchased 2,000 shares of treasury stock for $8,000
g. The company reissued 500 shares for $3,000
Provide journal entries for b through g above. If no entry is required, state this is the case.
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