ZuoTi.Pro
Question

Problem 13-01A a-c (Part Level Submission) Bridgeport Corporation was organized on January 1, 2020. It is authorized to issue 14,500 shares of 8%, $100 par value preferred stock, and 464,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year Jan. 10 Issued 81,500 shares of common stock for cash at $6 per share. Mar. 1 Issued 4,300 shares of preferred stock for cash at $110 per share. Apr. 1 Issued 22,500 shares of common stock for land. The asking price of the land was $87,000. The fair value of the land was $83,500. May 1 Issued 85,000 shares or common stock for cash at $4.25 per share. Aug. 1 Issued 12,000 shares of common stock to attorneys in payment of their bill of $40,500 for services performed in helping the company organize. Sept. 1 Issued 12,000 shares of common stock for cash at $6 per share. Nov. 1 Issued 2,500 shares of preferred stock for cash at $114 per share.Post to the stockholders equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Common Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Preferred Stock A/c Paid in Capital in Excess of Par Preferred Stock Amount $ Particulars Amount $ By Cash or Bank A/c43000 By Cash or Bank A/c35000 Particulars Amount $ Particulars Amount Particulars By Cash or Bank A/c 430000 By Cash or Bank A/c 250000 To Balance C/d To Balance C/d 680000 680000 78000 78000 680000 78000 Common Stock A/c Paid in capital in excess of Stated Value- Common Stock Amount S Particulars Particulars Amount $ Particulars Amount $Particulars Amount $ By Cash or Bank A/c 244500 By Land By Cash or Bank A/c255000 By Organisation Expenses(Attorney 36000 By Cash or Bank A/c 36000 By Cash or Bank A/c244500 By Land By Cash or Bank A/c 106250 By Organisation Expenses(Attorney) By Cash or Bank A/c36000 67500 16000 (83500-67500) 4500 (40500-36000) To Balance C/d To Balance C/d 639000 639000 407250 407250 639000 407250

0 0
Add a comment
Know the answer?
Add Answer to:
Problem 13-01A a-c (Part Level Submission) Bridgeport Corporation was organized on January 1, 2020. It is...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • I need help with part C. Thank you Problem 13-01A a-c (Part Level Submission) Bridgeport Corporation...

    I need help with part C. Thank you Problem 13-01A a-c (Part Level Submission) Bridgeport Corporation was organized on January 1, 2020. It is authorized to issue 14,500 shares or 896, $100 par value preferred stock, and 464,000 shares or no-par common stock with a stated value or $3 per share. The following stock transactions were completed during the first year Jan. 10 Issued 81,500 shares of common stock for cash at $6 per share. Mar. 1 Issued 4,300 shares...

  • Problem 13-01A Bridgeport Corporation was organized on January 1, 2020. It authorized to sue 15,000 shares...

    Problem 13-01A Bridgeport Corporation was organized on January 1, 2020. It authorized to sue 15,000 shares of 8%, $100 par value preferred stock, and 504,000 shares of no por common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 05.000 shares of common stock for cash per share. Mar. 1 Issued 5,150 shares of preferred stock for cash at $110 per share. Ape. 1 Issued 22,000 shares...

  • Problem 13-01A a-c (Part Level Submission) Avayal Corporation was organized on January 1, 2020. It is...

    Problem 13-01A a-c (Part Level Submission) Avayal Corporation was organized on January 1, 2020. It is authorized to issue 10,000 shares of 8% $100 par value preferred stock, and 450,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 75,000 shares of common stock for cash at $4 per share. Mar. 1 Issued 4,000 shares of preferred stock for cash at $105 per...

  • Problem 13-01A a-c Grouper Corporation was organized on January 1, 2020. It is authorized to issue...

    Problem 13-01A a-c Grouper Corporation was organized on January 1, 2020. It is authorized to issue 15,000 shares of 8%, $100 par value preferred stock, and 549,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 75,500 shares of common stock for cash at $6 per share. Mar. 1 Issued 5,950 shares of preferred stock for cash at $110 per share. Apr. 1...

  • *Problem 13-01A a-c Pronghorn Corporation was organized on January 1, 2020. It is authorized to issue...

    *Problem 13-01A a-c Pronghorn Corporation was organized on January 1, 2020. It is authorized to issue 11,000 shares of 8%, $100 par value preferred stock, and 498,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 75,500 shares of common stock for cash at $4 per share. Mar. 1 Issued 5,550 shares of preferred stock for cash at $105 per share. Apr. 1...

  • *Problem 13-01A a-c Pronghorn Corporation was organized on January 1, 2020. It is authorized to issue...

    *Problem 13-01A a-c Pronghorn Corporation was organized on January 1, 2020. It is authorized to issue 11,000 shares of 8%, $100 par value preferred stock, and 498,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 75,500 shares of common stock for cash at $4 per share. Mar. 1 Issued 5,550 shares of preferred stock for cash at $105 per share. Apr. 1...

  • Question 11 Novak Corporation was organized on January 1, 2020. It is authorized to Issue 13,000...

    Question 11 Novak Corporation was organized on January 1, 2020. It is authorized to Issue 13,000 shares of 89, $100 par value preferred stock, and 526,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 84,500 shares of common stock for cash at $6 per share. Mar. 1 Issued 5,150 shares of preferred stock for cash at $105 per share. Apr. 1 Issued...

  • Pina Colada Corporation was organized on January 1, 2020. It is authorized to issue 12,000 shares...

    Pina Colada Corporation was organized on January 1, 2020. It is authorized to issue 12,000 shares of 8%, $100 par value preferred stock, and 512,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 79,000 shares of common stock for cash at $4 per share. Mar. 1 Issued 5,850 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 23,000...

  • Blue Spruce Corporation was organized on January 1, 2020. It is authorized to issue 12,000 shares...

    Blue Spruce Corporation was organized on January 1, 2020. It is authorized to issue 12,000 shares of 8%, $100 par value preferred stock, and 462,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 77,000 shares of common stock for cash at $6 per share. Mar. 1 Issued 5,500 shares of preferred stock for cash at $110 per share. Apr. 1 Issued 25,000...

  • Concord Corporation was organized on January 1, 2020. It is authorized to issue 14,000 shares of...

    Concord Corporation was organized on January 1, 2020. It is authorized to issue 14,000 shares of 8%, $100 par value preferred stock, and 511,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 82,000 shares of common stock for cash at $6 per share. Mar. 1 Issued 4,850 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 25,000 shares...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT