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P10-2A Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning
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Answer #1

Answer to Rectirement 1 General Journal Debit Credit Date Cash (1,100 $42) Common Stock (1,100 * $0.01) Additional Paid-in Ca

Calculation:
Shares Outstanding on the date of dividend declaration:

Common Stock Outstanding = 4,000 + 1,100 – 400 + 200 = 4,900 Shares

Preferred Stock Outstanding = 300 + 200 = 500 Shares

Answer to Requirement 2.

Total Stockholders Transaction Total Assets Total Liabiltiies Equity Issue Common Stock Purchase Treasury Stock Resell Treas

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