[Key code here]
An asterisk (*) will appear to the right of an incorrect entry. In T accounts, only final balances will be graded.
Enter a zero for the final balance if appropriate.
1., 2.
Jan. 1 Bal. Jan. 1 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
Jan. 1 Bal. Dec. 31 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
Jan. 1 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
2.
Jan. 15
Mar. 15
Apr. 13
June 14
July 16
Oct. 30
Dec. 30
Score:
0%
Key Code:
Instructions
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Retained Earnings
Problem 11-4B
Name:
Section:
Common Stock
Paid-In Capital in Excess of Stated Value
Cash Dividends
Treasury Stock
Paid-In Capital from Sale of Treasury Stock
Stock Dividends Distributable
Stock Dividends
31
31
3.
Retained earnings (January 1, 2014)
Net income
Less: Cash dividends
Stock dividends
Increase in retained earnings
Retained earnings (December 31, 2014)
4.
Paid-in capital:
Common stock, $8 stated value
(900,000 shares authorized, 844,600 shares issued)
Excess of issue price over stated value
Total paid-in capital
Retained earnings
Total
Deduct treasury stock (50,000 shares at cost)
Total stockholders’ equity
December 31, 2014
Stockholders’ Equity
Balance Sheet
For the Period Ended December 31, 2014
NAV-GO ENTERPRISES INC.
NAV-GO ENTERPRISES INC.
Retained Earnings Statement
An asterisk (*) will appear to the right of an incorrect entry. In T accounts, only final balances will be graded.
Enter a zero for the final balance if appropriate.
1., 2.
Jan. 1 Bal. 3,100,000 Jan. 1 Bal. 288,000 Mar. 15 288,000
2.
Cash
Jan. 15 34,320
34,320
Score:
ON
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Common Stock
Problem 11-4B
Name:
Section:
Solution
Cash Dividends Payable
Treasury Stock
Cash