Journal entries
1. Sale of Preferred stock
Cash A/c Dr 1000
To Preferred stock A/C 20
To Share premium A/c 980
(Being preferred stock issued during the year)
2. Sale of common stock
Cash A/c Dr 72
To Common stock A/c 8
To Share premium A/c 64
(Beingcommon stock issued during the year)
3. Dividend paid
Preffered – Dividend A/c Dr 2
Common – Divedend A/c Dr 19
To Cash A/c 21
(Being dividend paid)
4. Retirement of shares
Common stock A/c Dr 7
Share premium A/c Dr 56
Retained earnings 15
To Cash A/c 78
(being shares redeemed at premium)
5. Dividend paid
Preffered – Dividend A/c Dr 2
Common – Divedend A/c Dr 23
To Cash A/c 25
(Being dividend paid)
6. Split of stock
Share premium A/c Dr 10
To Preferred stock A/c 10
(Being shares split made)
7. Common stock dividend
Dividend A/c Dr 41
To Common stock 4
To Share premium 37
Being Dividend issued by way of shares
8. Dividend
Preffered – Dividend A/c Dr 2
Common – Divedend A/c Dr 25
To Cash A/c 27
(Being dividend paid)
Balancesheet | |||
at Dec 31 In Millions |
|||
2023 | 2022 | ||
Shareholder's Equity | 4,193 | 3,856 | |
Additional paid in capital | |||
Preferred stock | - | ||
Common Stock | 41 | -63 | |
retained earnings | 414 | 400 | |
Total Shareholder's Equity | $4,648.00 | $4,193.00 |
Ched Comparative statements of shareholders' equity for Anaconda International Corporation were reported as follows for the...
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