Match the Value to the Appropriate Account

question 93

Essay

Match the value to the appropriate account. For the year ended 2012 ABC had the following transactions:
- issued 10,000 shares of $2.00 par value common stock for $12.00 per share
- issued 3,000 shares of $50 par value 6% preferred stock for $70 per share
- purchased 1000 shares of previously issued common stock for $15.00 per share
-reported net income of $200,000
- declared and paid a total dividend of $40,000
Assume that retained earnings had a beginning balance of $75,000.

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Definitions:

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Events marked by specific cultures to honor their heritage, traditions, and important historical moments.

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Physical objects designed and used by humans to perform a task or solve a problem.

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An object or sign used to represent ideas, concepts, or other objects, facilitating communication and cognitive processes.

Material Tool

An object or physical item used to achieve a goal or complete a task, often made or modified by human beings.