"2-12-2010

"2-12-2010 - EXERCISE 15-1 (a) Jan. 10 Cash...

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Unformatted text preview: 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 1 EXERCISE 15-1 (Continued) Mar. 1 Organization Expense................................................ 35,000 Common Stock (5,000 x $2).............................. 10,000 Paid-in Capital in Excess of Stated Value...................................................Stated Value....
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"2-12-2010 - EXERCISE 15-1 (a) Jan. 10 Cash...

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