Chapter 13

Chapter 13 - Chapter 13 Exercise 13-2 1. Feb. 20 Cash....

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Chapter 13 Exercise 13-2 1. Feb. 20 Cash. ...................................................................................... 144,000 Common Stock, No-Par Value. ....................................... 144,000 Issued common stock for cash. 2. Feb. 20 Cash. ...................................................................................... 144,000 Common Stock, $20 Par Value. ...................................... 120,000 Contributed Capital in Excess of Par Value, Common Stock. ................................................ 24,000 Issued common stock for cash. 3. Feb. 20 Cash. ...................................................................................... 144,000 Common Stock, $8 Stated Value. ................................... 48,000 Contributed Capital in Excess of Stated Value, Common Stock. ..................................... 96,000 Issued common stock for cash. Exercise 13-3 1. Organization Expenses. ..................................................................... 30,000 Common Stock, No-Par Value. ................................................... 30,000 Issued stock to promoters. 2. Organization Expenses. ..................................................................... 30,000 Common Stock, $1 Stated Value. ............................................... 2,000 Contributed Capital in Excess of Stated Value, Common Stock. ............................................................ 28,000 Issued stock to promoters. 3. Cash 70,000 Common Stock, $10 Par Value. .................................................. 40,000 Contributed Capital in Excess of Par Value, Common Stock. ............................................................ 30,000 Issued common stock for cash. 4. Cash 120,000 Preferred Stock, $100 Par Value. ................................................ 100,000 Contributed Capital in Excess of Par Value, Preferred Stock. ............................................................ 20,000 Issued preferred stock for cash.
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Exercise 13-5 Preferred Common 2003 ($10,000 paid) Preferred*. ................................................................ $10,000 Common remainder. .............................................. ______ $ 0 Total for the year. ..................................................... $10,000 $ 0 2004 ($24,000 paid) Preferred*. ................................................................ $24,000 Common remainder. .............................................. ______ $ 0 Total for the year. ..................................................... $24,000 $ 0 2005 ($100,000 paid) Preferred*. ................................................................ $30,000 Common remainder. .............................................. ______ $ 70,000
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Chapter 13 - Chapter 13 Exercise 13-2 1. Feb. 20 Cash....

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