Required information (The following information applies to the questions displayed below The annual report for Malibu Beachwear reported the following transactions affecting stockholders' ec a Purchased $351,300 of common stock now held in treasury à Declared cash dividends in the amount of $260,650. c. Paid the dividends in (b). d Issued 113,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. 3. Prepare a statement of stockholders' equity, assuming the following opening balances. Net Income fe $283,000.

Required information (The following information applies to the questions displayed below The annual report for Malibu Beachwear reported the following transactions affecting stockholders' ec a Purchased $351,300 of common stock now held in treasury à Declared cash dividends in the amount of $260,650. c. Paid the dividends in (b). d Issued 113,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. 3. Prepare a statement of stockholders' equity, assuming the following opening balances. Net Income fe $283,000.

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 4PB: Entries for selected corporate transactions Nav-Go Enterprises Inc. produces aeronautical navigation...

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