This preview shows page 1. Sign up to view the full content.
Unformatted text preview: Matt Abbio 1A) Mayport Comp. issues 1500 shares of $1 par value stock for cash at 60000. ( stock for $1) B) Mayport Comp. isses 500 shares of $1 par value stock for organization expens $20000. (Use stock to pay for organization) C) Mayport Comp. issues 400 shares of $1 par value stock and credits $9150 in n payable for cash valued at $6650, accounts recivable at $4000 and building at $1 (Aqquring assets, but still having liabilities to pay.) D) Mayport Comp. issues 600 shares of $1 par value stock for cash at 30000. (se for $1) 2) 3,000 shares of outstainding expense. 3) 3,000 is the minimum legal capital based on par value at year end. 4) Total paid-in at year end is $130,000 5) The book value per share of common stock at year end is $47.17 (rounded). stock for cash at 60000. (selling ck for organization expense at ock and credits $9150 in notes t $4000 and building at $18500. ock for cash at 30000. (selling stock ue at year end. end is $47.17 (rounded). ...
View Full Document
This note was uploaded on 05/29/2010 for the course ACC 201 taught by Professor Mr.ishbo during the Spring '10 term at Abraham Baldwin Agricultural College.
- Spring '10