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acc206 week 1 discus 1

acc206 week 1 discus 1 - E12-16 A Net Loss Fultz(45,000...

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E12-16 A. Net Loss- Fultz- (45,000) Hardie- (45,000) B. Net Gain- Fultz-(40,000/120,000*1/3*60,000)= 20,000 Hardie-(80,000/120,000*2/3*60,000)= 40,000 C. Fultz 20,000 Hardie 40,000 12,000 18,000 5,000 5,000 37,000 63,000 E12-18 A. Rose- 100,000 Hollis- 50,000 (20,000 bonus to Novak-not journalized) B. Beg. Capital 150,000 Plus Hollis Cont. 50,000 Ending Total Capital 200,000 Hollis’s Capital 50,000 Rose- 100,000 Novak- 50,000 Hollis- 50,000 C. Beg. Capital 150,000 Plus Hollis Cont. 90,000 Ending Total Capital 240,000 Hollis’s Capital 60,000 Assuming 50/50 bonus split- Rose- 115,000 Novak- 65,000 Hollis- 60,000 Assuming a 2:1 bonus Split- Rose-120,000 Novak- 60,000 Hollis- 60,000 E12-22 a. Ray-33,000 Scott-28,000 Van-19,000 b. Ray (33,000/80,000*50,000)- 20,625 Scott (28,000/80,000*50,000)- 17,500 Van (19,000/80,000*50,000)- 11,875 E14-16 A. 10% Stock Dividend 500,000 * .1= 50,000 Shares Retained Earnings- (500,000 * .1 *6) 300,000 Common Stock (500,000*.1*1) 50,000 Paid-in Capital in excess of Par 250,000
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Stockholders’ Equity Paid-in Capital Common Stock, $1 par, 550,000 shares issued 550,000 Paid-in Capital in excess of Par (550,000*5) 2,750,000 Total Paid-in capital 3,300,000 Retained earnings (Decreased) Total Stockholders’ Equity
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