Please provide calculations and explainations. Thank You!
Top Tech, Inc. Stockholders' Equity Section at the end of last
year was as follows:
Paid In capital:
Preferred Stock, 200,000 Shs. Authorized, 20,000 Outstanding, $15
Par,% dividend rate 300,000
Common Stock, 60,000 Shs. Issued and Outstanding, No Par
2,200,000
Total Paid in Capital 2,500,000
Retained Earnings 554,300
Total Stockholders' Equity 3,054,300
Req. #1, give general journal entries for the following
transactions that took place this year:
1 Bought back 1,000 shs of...