Case - Speedy Couriers PDF

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Case - Speedy Couriers...

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SPEEDY COURIERS APRIL 1/00 1.) Dr Cash Cr Common Shares 6,000*$25=150,000 APRIL 15/00 2.) Dr Vans Cr Common Shares Cr Cash 60,000-49,600=10,400 JULY 31/00 3.) Dr Retained Earnings Cr Common Dividends Payable 6,400 shares * $0.20 = 1,920 AUGUST 10/00 4.) Dr Dividends Payable Cr Cash SEPTEMBER 1/00 5.) Dr Building Cr Preferred Shares NOVEMBER. 2000 6.) Dr Deposit on Machinery Cr Cash MARCH 15/01 7.) Dr Preferred Shares Cr Common Shares 100,000*40%=40,000 ***Remember to Update # of shares MARCH 31/01 8.) Dr Retained Earnings Cr Preferred Dividends Payable $5*600 Shares = 3000

150,000

# OF COMMON SHARES Apr. 1 6,000 150,000 Apr. 15 400 T/B 6,400 Mar. 15 1,600 T/B 8,000

60,000 10,400 49,600

1,280 1,280

1,280 1,280

100,000

# OF PREFERRED SHARES SEPT. 1 1,000 100,000 400 Mar. 15 T/B 600

15,000 15,000

40,000 40,000

3,000 3,000

9.) Dr Retained Earnings Cr Stock Dividends to be Distributed 8,000*5%=400 400*$31=12,400

12,400 12,400...