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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 9
Journalizing dividend and treasury stock transactions, and preparing stockholders' equity
The balance sheet of Franklin Foods, at December 31, 2011, reported 110,000 shares of no-par common stock authorized, with 30,000 shares issued and a Common stock balance of $180,000, Retained earnings had a balance of $120,000. During 2012, the company completed the following selected transactions:
Requirements
1. Record the transactions in the general journal. Explanations are not required.
2. Prepare the stockholders' equity section of Franklin Foods' balance sheet at December 31, 2012.
The balance sheet of Franklin Foods, at December 31, 2011, reported 110,000 shares of no-par common stock authorized, with 30,000 shares issued and a Common stock balance of $180,000, Retained earnings had a balance of $120,000. During 2012, the company completed the following selected transactions:
Requirements
1. Record the transactions in the general journal. Explanations are not required.
2. Prepare the stockholders' equity section of Franklin Foods' balance sheet at December 31, 2012.
Explanation
Verified
Verified
2.
Prepare the stockholders' ...
Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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