Ch11HW - a Date b Desription 1-Apr Cash Common Stock Paid-in capital in excess of stated value common stock Debit Credit 1200000 400000 800000 3-Apr

Ch11HW - a Date b Desription 1-Apr Cash Common Stock...

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a. Date Desription Debit Credit 1-Apr Cash 1200000 Common Stock 400000 Paid-in capital in excess of stated value- common stock 800000 3-Apr Business Start-up Expense 31000 Common Stock 10000 Paid-in capital in exessof stated value- common stock 21000 8-Apr Property Plant and Equipment 48000 Common Stock 15000 Paid-in capital in excess of stated value- common stock 33000 20-Apr Cash 330000 Preferred Stock 300000 Paid-in capital in excess of stated value- preferred stock 30000 b. 6% preferred stock, $50 par value, 25000 shares authorized; 6000 shares issued and outstanding 300000 Common stock, $5 par value, 200000 shares authorized; 85000 shares issued and outstanding 425000 Paid-in capital in excess of par-value- Preferred stock 30000 Paid-in capital in excess of par-value- Common stock 854000 Retained Earnings 49000 Total Stockholders' Equity 1658000
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a. Debit Credit Preferred Stock 500000 50000 Totals: 0 550000 General Journal b. Date Description Debit 31-Mar Convertible Bonds Payable 43000 Common Stock Paid in capital in excess of par value- Common Stock 1-Jun Property Plant and Equipment 60000 Preferred Stock
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  • Fall '16
  • David Drews

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