Accounting E13-1, E13-4 - (e) Land 52,000 Common Stock...

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Jordan Evans E13-1 1 TRUE 2 TRUE 3 FALSE Most are publicly held 4 TRUE 5 FALSE It is taxed as a separate entity 6 FALSE creditors do not have any legal claim 7 FALSE It does not require approval, it is entirely up to the stockholder 8 FALSE The board of directors manage the corportation for the stockholders who leg 9 TRUE 10 FALSE Corporations are subject to more regulations
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gally own the corporation
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E13-4 (a) Cash 52,000 Common Stock @ $5 5,000 PIC in Excess of Par Value 47,000 (b) Cash 52,000 Common Stock @ $5 5,000 PIC in Excess of Stated Value 47,000 ( c) Cash 52,000 Common Stock 52,000 (d) Organization Expense 52,000 Common Stock 5,000 PIC in Excess of Par Value 47,000
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Unformatted text preview: (e) Land 52,000 Common Stock 5,000 PIC in Excess of Par Value 47,000 P12-1A (a)&(b) (a) Jan. 1 Cash 14,000 Accounts Receivable 17,500 Merchandise Inventory 28,000 Equipment 23,000 Allowance for Doubtful Accounts 4,500 Notes Payable 18,000 Accounts Payable 22,000 Patrick, Capital 38,000 82,500 82,500 1 Cash 12,000 Accounts Receivable 26,000 Merchandise Inventory 20,000 Equipment 16,000 Allowance for Doubtful Accounts 4,000 Notes Payable 15,000 Accounts Payable 31,000 Samuelson, Capital 24,000 74,000 74,000 (b) Jan. 1 Cash 5,000 Patrick, Capital 5,000 1 Cash Samuelson, Capital 19,000 19,000 P12-4A (a) P12-3B (a)...
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Accounting E13-1, E13-4 - (e) Land 52,000 Common Stock...

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