ACC 206 WEEK 1 ASSIGNMENT

Feb 3rd, 2012
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Week 1 AssignmentACC 206Week 1 AssignmentP12-30ACash52000Preferred Stock, 7%,$40 par share 110000 authorized,130052000Cash12000Common Stock,$1par share, 520000 share authorized, 2400 issued2400Paid in excess of par, common9600Income Summary74000Retained Earnings74000 Lincoln-Preist, Inc. Stakeholder Equity12/31/12Paid in Capital Preferred Stock, 7%,$40 par share 110000 authorized,130050000 Common Stock,$1par share, 520000 share authorized, 63400 issued63400 Paid in excess of par-common50600 Total Paid in Capital166000Retained Earnings103000Total stock holder EquityP12-32YearPreferred StockCommonTotal2010$3,000.00$$3,000.002011$6,000.00$7,000.00$13,000.002012$6,000.00$11,000.00$17,000.00Total$15,000.00$18,000.00$33,000.00Req 1.B.YearPreferred StockCommonTotal2010$3,000.00$$3,000.002011$9,000.00$7,000.00$13,000.002012$6,000.00$11,000.00$17,000.00Total$18,000.00$15,000.00$33,000.00Req 2.12/22/20Retained Earnings$17,000.00Dividends Payable-Preferred$6,000.00Dividends Payable-Common$11,000.00Declared cash dividend01/14/20Dividends Payable-Preferred$6,000.00Dividends Payable-Common$11,000.00Cash$17,000.00Paid Cash dividendP13-24ASummerbornG

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