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


©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

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