ch15HWSolutions - CHAPTER 15 Stockholders' Equity EXERCISE...

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CHAPTER 15 Stockholders’ Equity EXERCISE 15-1 (a) Jan. 10 Cash (80,000 X $6). ................................ 480,000 Common Stock (80,000 X $3). ........ 240,000 Paid-in Capital in Excess of Par. .... 240,000 Mar. 1 Organization Expense. .......................... 35,000 Common Stock (5,000 X $3). .......... 15,000 Paid-in Capital in Excess of Par. .... 20,000 July 1 Cash (30,000 X $8). ................................ 240,000 Common Stock (30,000 X $3). ........ 90,000 Paid-in Capital in Excess of Par (30,000 X $5). ................................ 150,000 Sept. 1 Cash (60,000 X $10). .............................. 600,000 Common Stock (60,000 X $3). ........ 180,000 Paid-in Capital in Excess of Par (60,000 X $7). ................................ 420,000 (b) Jan. 10 Cash (80,000 X $6). ................................ 480,000 Common Stock (80,000 X $2). ........ 160,000 Paid-in Capital in Excess of Stated Value (80,000 X $4). ......... 320,000 Mar. 1 Organization Expense. .......................... 35,000 Common Stock (5,000 X $2). .......... 10,000 Paid-in Capital in Excess of Stated Value. ................................ 25,000 ($35,000 – $10,000 or 5,000 X $5) July 1 Cash (30,000 X $8). ................................ 240,000 Common Stock (30,000 X $2). ........ 60,000 Paid-in Capital in Excess of Stated Value (30,000 X $6). ......... 180,000
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EXERCISE 15-1 (Continued) Sept. 1 Cash (60,000 X $10). .............................. 600,000
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ch15HWSolutions - CHAPTER 15 Stockholders' Equity EXERCISE...

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