1)
Calculate retained earnings from the following data; calculate the retained earnings balance as of December 31, 2008

Retained earnings, December 31, 2009 $490,400
Net decrease in total assets during 2009 74,800
Net increase in accounts receivable in 2009 17,200
Dividends declared and paid in 2009 67,200
Proceeds from issuance of bonds during 2009 176,800
Net loss for the year ended December 31, 2009 46,000

2)
Treasury stock transactions: On January 1, 2008, Metco, inc., had issues and outstanding 574,600 shares of $2 par value common stock. On March 15, 2008, metco, inc., purchased for its treasury 4,400 shares of its common stock at a price of $75 per share. On august 10, 2008, 1400 of these treasury shares were sold for $84 per share. Metco's director directors declared cash dividends of $1.20 per share during the second quarter and again during the fourth quarter, payable on June 30, 2008, and December 31, 2008, respectively. A %2 stock dividend was issued at the end of the yr. there were no other transactions affecting common stock during the yr.

a. Use the horizontal model (or write the entry) to show the effect of the treasury stock purchase on March 14, 2008.
b. Calculate the total amount of the cash dividend paid in the second quarter.
c. Use the horizontal model (or write the entry) to show the effect of the sale of the treasury stock on august 10, 2008.
d. Calculate the total amount of cash dividend paid in the fourth quarter.
e. Calculate the amount of shares of stock issued in the stock dividend.

3)
Transaction analysis-various accounts: enter the following column headings across the top of a sheet of paper

Transaction, Cash, Other Assets, Liabilities, Paid-in Capital, Retained Earnings, Treasury Stock, Net Income

Enter the transaction letter in the first column and show the effect (if any) of each of the following statement category by entering a plus (+) or minus (-) sign and the amount in the appropriate column. Do not show items that affect net income in the retained earnings column. You may also write the entries to record these transactions. You should assume that the transactions occurred in the same chronological sequence as listed here:

a. sold 5200 shares of $10 par value preferred stock at $12.50 per share.
b. Declared the annual cash dividend of $3.20 per share on common stock. There were 18,400 shares of common stock issued and outstanding throughout the year.
c. Issued 6,400 shares of $10 par value preferred stock in exchange for building when the Market price of preferred stock was $13 per share.
d. Purchased 300 shares of preferred stock for the treasury at a price of $16 per share.
e. Sold 140 shares of the preferred stock held in treasury (see D) for $17 per share.
f. Declared and issued a 15% stock dividend on the $1 par value common stock when the market price per share was $45.