ACC 291 WEEK 4 INDIVIDUAL ASSIGNMENT – EXERCISES
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ACC 291 WEEK 4 INDIVIDUAL ASSIGNMENT – EXERCISES
Complete Problem 11-6A.
E11-15
Before Action After Stock Dividend After Stock Split
Stockholders’ equity
Paid-in capital
Common stock $600,000 $630,000 $600,000
In excess of par value 0 3,000 x ($14-$10)=
12,000 0
Total paid-in capital 600,000 642,000 600,000
Retained earnings 900,000 $900,000-(3,000 x $14)
858,000 900,000
Total stockholders’
equity 1,500,000$ $1,500,000 $1,500,000
Outstanding shares 60,000 63,000 120,000
Book value per share $25.00 $23.81 $12.50
P11-6A
(a) Prepare the journal entries for the:
(1) Issuance of preferred stock for land.
Land 296,000
Preferred Stock 240,000 (2,400 x $100)
Paid-in Capital in Excess of Par Value—Preferred 56,000
ACC 291 WEEK 4 INDIVIDUAL ASSIGNMENT – EXERCISES
To view more, click on following link:
http://unquite.com/question-details/ACC-250-COMPLETE-CLASS/124
or email us at:
query@unquite.com
ACC 291 WEEK 4 INDIVIDUAL ASSIGNMENT – EXERCISES
Complete Problem 11-6A.
E11-15
Before Action After Stock Dividend After Stock Split
Stockholders’ equity
Paid-in capital
Common stock $600,000 $630,000 $600,000
In excess of par value 0 3,000 x ($14-$10)=
12,000 0
Total paid-in capital 600,000 642,000 600,000
Retained earnings 900,000 $900,000-(3,000 x $14)
858,000 900,000
Total stockholders’
equity 1,500,000$ $1,500,000 $1,500,000
Outstanding shares 60,000 63,000 120,000
Book value per share $25.00 $23.81 $12.50
P11-6A
(a) Prepare the journal entries for the:
(1) Issuance of preferred stock for land.
Land 296,000
Preferred Stock 240,000...