{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

viewRecord - Accouting Principles2

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
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
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
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 Debit Credit (0%) (0%) (0%) (0%) (0%) (0%) 4. A corporation issued 1,250 shares of $100 par value preferred stock for $168,500 cash. General Journal Debit Credit (0%) (0%) (0%) (0%) (0%) (0%) Ex Pre res Re 1. 2. 3. 4. Page 2 of 15 Homework Manager - Accounting Principles II 1/23/2010 http://mh.brownstone.net/modules/viewRecord.TestDetails
Image of page 2
Question 4: Score 0/2 Question 5: Score 0/2 Total grade: 0.0×1/6 + 0.0×1/6 + 0.0×1/6 + 0.0×1/6 + 0.0×1/6 + 0.0×1/6 = 0% + 0% + 0% + 0% + 0% + 0% Your response Exercise 13-5: Identifying characteristics of preferred stock L.O. C2, C3 Match each description 1 through 6 with the characteristic of preferred stock that it best describes by selecting characteristic in the drop-down next to each description.
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern