acct. hw need calculations shown and proper journal entries

need all calculations shown and proper journal entries

Chapter 11

Quick Study 11-16 (10 minutes)

Total stockholders’ equity

Less equity attributable to preferred shares:

Call price (10,000 shares x $30) Save Time On Research and Writing Hire a Pro to Write You a 100% Plagiarism-Free Paper. Get My Paper

Equity applicable to common shares

Book value of common shares ($620,000/75,000 shares)

PROBLEM SET A

Problem 11-1A (30 minutes)

Part 1

a.
To record sale of 5,000 shares of $25 par value common stock for $30 per share.

b.
To record issuance of 2,500 shares of $25 par value common stock to the company’s promoters for their efforts in organizing the company when the market value is $30 per share.

c.
To record acquisition of assets and liabilities by issuing 1,000 shares of $25 par value common stock at $40 per share.

d.
To record sale of 1,500 shares of $25 par value common stock for $40 per share.

Part 2

Number of outstanding shares

Issued in (a)

Issued in (b)

Issued in (c)

Issued in (d)

Total

Part 3

Minimum legal capital
=

Part 4

Total contributed capital from common stockholders

From transaction (a)
From transaction (b)
From transaction (c)
From transaction (d)
	Total contributed capital

Part 5

Book value per common share

Total stockholders’ equity (given)
Outstanding shares (from Part 2)
Book value per common share	Calculations:

Problem 11-2A (60 minutes)

Part 1 You can place your calculations in the description line

Cash

Cash*

Treasury Stock, Common**

Retained Earnings

Common Dividend Payable

Common Dividend Payable

Cash

Jan. 1	Treasury Stock, Common
		Cash
Jan. 5		Retained Earnings
	Common Dividend Payable
Feb. 28		Common Dividend Payable
July 6		Cash*
	Treasury Stock, Common**
Aug. 22
Paid-In Capital, Treasury Stock
Retained Earnings
Sept. 5
Oct. 28
Dec. 31	Income Summary
Retained Earnings

Part 2

CONTEXT CORPORATION Statement of Retained Earnings For Year Ended December 31, 2012

Retained earnings, Dec. 31, 2011

Plus net income

Less: Cash dividends declared

Treasury stock reissuances

Retained earnings, Dec. 31, 2012

Part 3

Total contributed capital

conText CORPORATION Stockholders’ Equity Section of the Balance Sheet December 31, 2012

Common stock($10 par value, 50,000 shares authorized, 20,000 shares issued and outstanding

Paid-in capital in excess of par value, common stock

Retained earnings (from part 2)

Total stockholders’ equity

Ethics Challenge — BTN 11-3

©McGraw-Hill Companies, 2012

596

Financial Accounting, 6th Edition

©McGraw-Hill Companies, 2012

595

Solutions Manual, Chapter 11

11-16 below begins with : the stockholders equity ….

11-1A there are two pics with the information for this part…. First is below starts with oxygen ci is incorporated…….

The rest of the information for this problem is below…

11-2A is below……

BTN 11-3 is below