Question

In: Accounting

account cycle Week Transaction 1 Received $3000 as contribution to the corporation Purchased Park Place for...

account cycle

Week Transaction
1 Received $3000 as contribution to the corporation
Purchased Park Place for $350 Purchased St. James Place for $180 Purchased Pennsylvania RR for $200
Purchased house for St James Place $100 and $52 Insurance
2 Received $25 in Rent from Pennsylvania RR
Purchased Kentucky Ave for $220
Purchased Pacific Ave for $300
3 Purchased Boardwalk for $400 Purchased house for Park Place for $200 and $52 insurance
Received $650 for passing go the 1st time
Paid $30 in rent to Oriental Ave
Received $26 rent for Pacific Avenue
4 Received $26 rent for Pacific Avenue
Purchased house for Boardwalk for $200 and $52 insurance
Received $175 in Rent from Park Place
NOTE: Cash on hand before dividend payment is $1,566 Paid required dividend to stockholders
5 Received $200 rent for Boardwalk
Received $200 rent for Boardwalk
Paid $25 rent for BO Railroad
6 Paid $75 for repairs (Misc Expense)
Purchased house for Park Place for $200 and $52 insurance
7 Purchased house for BoardWalk for $200 and $52 insurance
8 Received $25 rent from Pennsylvania Railroad
Received $18 rent from Kentucky Ave
Purchased house for Kentucky for $150 and $52 insurance
Received $650 for passing GO the second time
9 no transactions
10 Received $70 rent for St James
Received $250 for Free Parking
11 Received $600 rent from Boardwalk
Paid $100 rent for Illinois Ave
Received $25 rent for Pennsylvania Railroad
12 Received $26 rent for Pacific Ave
Received $100 (Gain from Lawsuit)
Purchased house for St James Place for $100 and $52 insurance
13 Paid $50 rent for Short Line Railroad
Paid $100 for Luxury Tax
NOTE: Cash on hand at end of week 13 is $2,441

Solutions

Expert Solution

First i considered dividend paid is $0, than the closing Balance by week 13 is $2522.

But Information is provided that Cash balance of Week 13 is $ 2441.

which means dividend is paid $81. Calculation for same is shown above.

ekkarill92 answered 2 years ago
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