Debit | Credit | |||
Jan 10 | Cash | 489000 | =81500*6 | |
Common Stock | 244500 | =81500*3 | ||
Paid in Capital in excess of stated value-Common Stock | 244500 | |||
Mar 1 | Cash | 462000 | =4400*105 | |
Preferred Stock | 440000 | =4400*100 | ||
Paid in Capital in excess of par value-Preferred Stock | 22000 | |||
Apr 1 | Land | 89000 | ||
Common Stock | 67500 | =22500*3 | ||
Paid in Capital in excess of stated value-Common Stock | 21500 | |||
May 1 | Cash | 340000 | =80000*4.25 | |
Common Stock | 240000 | =80000*3 | ||
Paid in Capital in excess of stated value-Common Stock | 100000 | |||
Aug 1 | Organization expense | 39500 | ||
Common Stock | 34500 | =11500*3 | ||
Paid in Capital in excess of stated value-Common Stock | 5000 | |||
Sept 1 | Cash | 80500 | =11500*7 | |
Common Stock | 34500 | =11500*3 | ||
Paid in Capital in excess of stated value-Common Stock | 46000 | |||
Nov 1 | Cash | 330000 | =3000*110 | |
Preferred Stock | 300000 | =3000*100 | ||
Paid in Capital in excess of par value-Preferred Stock | 30000 |
Problem 11-1A (Part Level Submission) Blue Spruce Corp. was organized on January 1, 2019. It is...
Problem 11-1A Windsor, Inc. was organized on January 1, 2019. It is authorized to issue 14,000 shares of 8%, $100 par value preferred stock, and 514,000 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 78,000 shares of common stock for cash at $4 per share. Mar. 1 Issued 5,300 shares of preferred stock for cash at $110 per share. Apr. 1 Issued...
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...
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...
Problem 11-4A (Part Level Submission) On January 1, 2019, Blue Spruce Corp. had the following stockholders' equity accounts. Common Stock ($24 par value, 64,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,536,000 204,000 574,000 During the year, the following transactions occurred Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February Announced a 2-for-1 stock split. Prior to the split, the...
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...
Monty Corp. was organized on January 1, 2020. It is authorized to issue 12,000 shares of 8%, $100 par value preferred stock, and 513,000 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 4,300 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 25,000...
*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...
DeLong Corporation was organized on January 1, 2017. It is authorized to issue 14,500 shares of 8%, $100 par value preferred stock, and 450,000 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 $110 per share. Apr. 1 Issued 23,500 shares...
Sunland Company was organized on January 1, 2020. It is authorized to issue 14,000 shares of 8%, $100 par value preferred stock, and 550,000 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 80,500 shares of common stock for cash at $6 per share. Mar. 1 Issued 4,400 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 24,500 shares...
Blue Spruce Corp. had the following transactions during the current period. Mar. 2 Issued 6,100 shares of $5 par value common stock to attorneys in payment of a bill for $36,600 for services performed in helping the company to incorporate. June 12 Issued 57 500 shares of $5 par value common stock for cash of $359,375 July 11 Issued 1.200 shares of $100 par value preferred stock for cash at $10 per share. Nov. 28 Purchased 2,500 shares of treasury...