Chapter 11 - Jordan Kirkey ACC 212 20 Chapter 11 Exercises...

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Jordan Kirkey ACC 212 20 Chapter 11 Exercises and Problems Exercises Exercise 11-2 1. Feb. 20 Cash 152,000 Common Stock, No-Par Value 152,000 . 2. Feb. 20 Cash 152,000 Common Stock, $2 Par Value 38,000 Paid-In Capital in Excess of Par Value, Common Stock 114,000 3. Feb. 20 Cash 152,000 Common Stock, $5 Stated Value 95,000 Paid-In Capital in Excess of Stated Value, Common Stock 57,000 Exercise 11-3 1. Organization Expenses 40,000 Common Stock, No-Par Value 40,000 . 2. Organization Expenses 40,000 Common Stock, $1 Stated Value 2,000 Paid-In Capital in Excess of Stated Value, Common Stock 38,000
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3. Cash 35,000 Common Stock, $5 Par Value 20,000 Paid-In Capital in Excess of Par Value, Common Stock 15,000 4. Cash 60,000 Preferred Stock, $50 Par Value 50,000 Paid-In Capital in Excess of Par Value, Preferred Stock 10,000 Exercise 11-4 Land 45,000 Building 85,000 Common Stock, Par Value $7 49,000 Paid-In Capital in Excess of Par Value, Common Stock 81,000 Exercise 11-6 1. a. Retained earnings Before dividend $ 660,000 $10 par value of 25,000 dividend shares (250,000) After dividend $ 410,000 b. Total stockholders’ equity Common stock $10 par value, 120,000 shares authorized, 75,000 shares issued and outstanding $ 750,000 Paid-in capital in excess of par value 200,000 Retained earnings 410,000 Total stockholders’ equity $1,360,000
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c. Number of outstanding shares Outstanding shares before the dividend 50,000 Dividend shares 25,000 Outstanding shares after the dividend 75,000 2. a. Retained earnings (no change) Before and after stock split $ 660,000 b. Total stockholders’ equity Common stock $5 par value, 180,000 shares authorized, 75,000 shares issued and outstanding. $ 500,000
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This note was uploaded on 04/03/2008 for the course ACC 212 taught by Professor Stovall during the Spring '08 term at Grand Valley State University.

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Chapter 11 - Jordan Kirkey ACC 212 20 Chapter 11 Exercises...

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