Homework Answers
Solution 11:
| No. | Accounts Title and explanation | Debit | Credit |
| 31-Mar | Stock Dividend Dr (200,000*10% *$18) | $3,60,000 | |
| To Common Stock Dividend Distributable (200,000*10%*$5) | $1,00,000 | ||
| To Paid in capital in excess of Par - Common Stock | $2,60,000 |
Solution 12:
| Wicomico Company | ||
| Partial Balance Sheet | ||
| December 31, 2018 | ||
| Stockholders' Equity: | ||
| Paid in Capital: | ||
| Preferred Stock | $1,00,000 | |
| Common Stock | $2,60,000 | |
| Paid in Capital in excess of Par -Common Stock | $52,000 | |
| Total paid in Capital | $4,12,000 | |
| Add: Retained earnings | $2,17,000 | |
| $6,29,000 | ||
| Less: Treasury Stock | $32,000 | |
| Total Stockholders' Equity | $5,97,000 | |
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