viewRecord - Accouting Principles2

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Question 1: Score 0/2 Question 2: Score 0/2 Total grade: 0.0×1/8 + 0.0×1/8 + 0.0×1/8 + 0.0×1/8 + 0.0×1/8 + 0.0×1/8 + 0.0×1/8 + 0.0×1/8 = 0% + 0% + 0% + 0% + 0% + Your response Exercise 13-1: Characteristics of corporations L.O. C1 Select the corporation description that best fits the characterisitic given: (An item will only be selected once.) Characteristic Corporations 1. Owner authority and control (Click for List) (0%) 2. Ease of formation (Click for List) (0%) 3. Transferability of ownership (Click for List) (0%) 4. Ability to raise large amounts of capital (Click for List) (0%) 5. Duration of life (Click for List) (0%) 6. Owner liability (Click for List) (0%) 7. Legal status (Click for List) (0%) 8. Tax status of income (Click for List) (0%) Ex Se 1. 2. 3. 4. 5. 6. 7. 8. Your response Exercise 13-2: Accounting for par, stated and no-par stock issuances L.O. P1 Rodriguez Corporation issues 12,000 shares of its common stock for $182,700 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. (Omit the "$" sign in your response) Requirement 1: The stock has neither par nor stated value. Date General Journal Debit Credit Feb. 20 (0%) (0%) (0%) (0% Requirement 2: The stock has a $12 par value. Date General Journal Debit Credit Feb. 20 (0%) (0%) (0%) (0% (0%) (0% Requirement 3: The stock has a $6 stated value. Date General Journal Debit Credit Feb. 20 (0%) (0%) (0%) (0% Page 1 of 15 Homework Manager - Accounting Principles II 1/23/2010 http://mh.brownstone.net/modules/viewRecord.TestDetails
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Question 3: Score 0/2 Total grade: 0.0×1/16 + 0.0×1/16 + 0.0×1/16 + 0.0×1/16 + 0.0×1/16 + 0.0×1/16 + 0.0×1/16 + 0.0×1/16 + 0.0×1/16 + 0.0×1/1 0% + 0% + 0% + 0% (0%) (0% Total grade: 0.0×1/22 + 0.0×1/22 + 0.0×1/22 + 0.0×1/22 + 0.0×1/22 + 0.0×1/22 + 0.0×1/22 + 0.0×1/22 + 0.0×1/22 + 0.0×1/2 0.0×1/22 = 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0 Your response Exercise 13-3: Recording stock issuances L.O. P1 Prepare journal entries to record the following four separate issuances of stock (Omit the "$" sign in your response) : Required: 1. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $43,500. The stock has no stated value. General Journal Debit Credit (0%) (0%) (0%) (0%) 2. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $43,500. The stock has a $2 per share stated value. General Journal Debit Credit (0%) (0%) (0%) (0%) (0%) (0%) 3. A corporation issued 5,000 shares of $30 par value common stock for $180,000 cash. General Journal
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This note was uploaded on 02/21/2010 for the course ACCT 202 taught by Professor Andersen during the Winter '10 term at Tacoma Community College.

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viewRecord - Accouting Principles2

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