Question

FoolCovers, Inc, with headquarters in Beaverton, Oregon, is one of the world's leading manufacturers of athiletic shoes and sports appares. The folowing actvities occurred during a recent year. The amounts are rounded to milions a Purchased additional buildings for $190 and equipment for $270, paid $400 in cash and signed a long-term note for the rest b. Issued 110 shares of $2 par value common stock for $345 cash c. Declared $135 in dividends to be paid in the followling year d. Purchased additional short-term investments for $7,816 cash e. Several FootCovers investors sold their own stock to other investors on the stock exchange for $ tSold $4,413 in short-term investments for $4,413 in cash Required: Prepare ournal entries for the above transactons|r no entry Is required for a transacton event 9.sect ㄱ ournal entry required" in the first account field. Enter your answers in millions. Journal entry worksheet Record the purchase of additional buildings for $190 and equipment for $270 paid with $400 cash and a long-term note for the rest General Jounal Vie general journal

Answer 1

Working Notes Common stock = 110*$2 = $220 Additional paid in capital S345-S220 S125