Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
2Activity
0 of .
Results for:
No results containing your search query
P. 1
Chap 14 - Selected Ex & Prob

Chap 14 - Selected Ex & Prob

Ratings: (0)|Views: 11|Likes:
Published by Steven Sanderson

More info:

Published by: Steven Sanderson on Oct 19, 2007
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOC, PDF, TXT or read online from Scribd
See more
See less

05/08/2014

pdf

text

original

 
EXERCISE 14-1(a) Jan. 10 Cash (70,000 X $5).................................. 350,000Common Stock...............................350,000July 1 Cash (40,000 X $8).................................. 320,000Common Stock (40,000 X $5).........200,000Paid-in Capital in Excess ofPar Value (40,000 X $3)
 
...............120,000(b) Jan. 10 Cash (70,000 X $5).................................. 350,000Common Stock (70,000 X $1).........70,000Paid-in Capital in Excess ofStated Value (70,000 X $4)
 
..........280,000July 1 Cash (40,000 X $8).................................. 320,000Common Stock (40,000 X $1).........40,000Paid-in Capital in Excess ofStated Value (40,000 X $7)
 
..........280,000EXERCISE 14-2Mar. 2Organization Expense.................................. 30,000Common Stock (5,000 X $1).................5,000
 
Paid-in Capital in Excess of ParValue—Common Stock
 
.....................25,000June 12 Cash............................................................... 375,000
 
Common Stock (60,000 X $1)...............60,000Paid-in Capital in Excess of ParValue—Common Stock
 
.....................315,000July 11 Cash (1,000 X $110)....................................... 110,000Preferred Stock (1,000 X $100).............100,000Paid-in Capital in Excess of ParValue—Preferred Stock
 
.....................10,000
 
(1,000 X $10)
 
 
EXERCISE 14-2 (Continued)Nov. 28 Treasury Stock............................................... 80,000Cash........................................................80,000PROBLEM 14-4B(a) Feb. 1Land......................................................... 125,000Preferred Stock (2,000 X $50)........100,000Paid-in Capital in Excess ofPar Value—Preferred Stock
 
.......25,000($125,000 – $100,000)
 
Mar. 1Cash (1,000 X $65).................................. 65,000Preferred Stock (1,000 X $50)........50,000Paid-in Capital in Excess ofPar Value—Preferred Stock
 
.......15,000(1,000 X $15)
 
July 1Cash (16,000 X $7).................................. 112,000Common Stock (16,000 X $5).........80,000Paid-in Capital in Excess ofPar Value—Common Stock
 
........32,000($112,000 – $80,000)
 
Sept. 1Patent (400 X $65).................................. 26,000Preferred Stock (400 X $50)...........20,000Paid-in Capital in Excess of

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->