The financial statements of P&G are presented in Appendix 5B or can be accessed at the book’s companion website

The financial statements of P&G are presented in Appendix 5B or can be accessed at the book’s companion website, www.wiley.com/college/kieso.

Refer to these financial statements and the accompanying notes to answer the following questions.

(a) What is the par or stated value of P&G’s preferred stock?
(b) What is the par or stated value of P&G’s common stock?
(c) What percentage of P&G’s authorized common stock was issued at June 30, 2007?
(d) How many shares of common stock were outstanding at June 30, 2007, and June 30, 2006?
(e) What was the dollar amount effect of the cash dividends on P&G’s stockholders’ equity?
(f) What is P&G’s rate of return on common stock equity for 2007 and 2006?
(g) What is P&G’s payout ratio for 2007 and 2006?
(h) What was the market price range (high/low) of P&G’s common stock during the quarter ended June 30, 2007?


Click here for the solution: The financial statements of P&G are presented in Appendix 5B or can be accessed at the book’s companion website

Appendix L : During the first month of operation of Shelby Oaks Dentistry the following transactions occurred

Appendix L
Journalizing, Posting, and Preparing a Trial Balance
Shelby Oaks Dentistry

Use this template to complete the assignment per the instructions below

Shelby Oaks Dentistry Chart of Accounts:
No. 101 Cash
No. 112 Accounts Receivable
No. 126 Supplies
No. 201 Accounts Payable
No. 205 Unearned Revenue
No. 311 Common Stock
No. 400 Service Revenue
No. 726 Rent Expense
No. 729 Salaries Expense

During the first month of operation of Shelby Oaks Dentistry the following transactions occurred:

June 1 Stockholders invested $40,000 cash in exchange for common stock
1 Paid Rent for the month $1,000
7 Purchased supplies on account for $4,000
10 Received $2,100 cash for dental services completed
13 Provided dental services on account for $5,100
25 Received a $500 cash advance for services not yet rendered
30 Paid $1,600 of the amount due on account for supplies
30 Received payment of $1,500 for dental services on account
30 Paid dental assistant for the month $2,400

Instructions
(a) Journalize the transactions on the tab labeled General Journal
(b) Post the transactions to the ledger accounts tab labeled Ledger Accounts
---------Be sure to calculate the balance in the account after each posted transaction
(c) Prepare a trial balance at June 30, 2010 on the tab labeled Trial Balance

Click here for the solution: Appendix L : During the first month of operation of Shelby Oaks Dentistry the following transactions occurred