# 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) 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

596

Financial Accounting, 6th Edition

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