Entries for Selected Corporate Transactions Tolbert Enterprises Inc. manufacture

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Entries for Selected Corporate Transactions

Tolbert Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Tolbert Enterprises Inc., with balances on January 1, 2014, are as follows:

The following selected transactions occurred during the year:

Closed the two dividends accounts to Retained Earnings.

Common Stock, $10 stated value (600,000 shares authorized, 400,000 shares issued) $4,000,000 Paid-In Capital in Excess of Stated Value-Common Stock 750,000 Retained Earnings 9,080,000 Treasury Stock (40,000 shares, at cost) 600,000

Explanation / Answer

Entries for Selected Corporate Transactions Tolbert Enterprises Inc. manufacture

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