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January 1 T-accounts Debit Credit Income Summary




On problem 12-4A I was wondering how to do the steps in the instructions this is what I have so far from journalizing.;Problem 12-4A;Jan. 10 Land 100,000;Donated Capital 100,000;Recorded land donated;30 Cash Dividends Payable 76,000;Cash 76,000;Feb. 19 Cash 350,000;Common Stock 350,000;1-Apr Cash 140,000;Treasury Stock 120,000;Paid in capital @ excess of par 20,000;1-Jul Stock Dividends 197,400;Stock dividends distributable 103,400;Paid in capital in excess of Par common stock 94,000;Aug. 11 Stock dividends distributable 103,400;Common Stock 103,400;Oct. 20 Treasury stock 285,000;Cash 285,000;Paid @ 38;Dec. 27 Cash Dividends 77,850;Cash Dividends Payable 77,850;31 Income summary 369,400;Retained earnings 369,400;31 Retained earnings 179,400;Cash dividend 76,000;Stock dividend 103,400;To report closing dividend accounts to retained earnings;January 1 T-accounts Debit Credit;Income Summary;Retained Earnings


Paper#25686 | Written in 18-Jul-2015

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