11-31a - $63,000 Common stock $2 par 525,000 shares authorized 64,300 shares issued and outstanding $128,600 Paid-in Capital in excess of

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P11-31A (15-20 min) Req. 1 Journal Entry Accounts Debit Credit a. Cash 63,000 Preffered Stock 63,000 b. Cash 6,900 Common Stock 4,600 Paid-In-capital (excess of par) 2,300 c. Income Summary 79,000 Retained Earnings 79,000 Req. 2 Stockholders' Equity Paid–in Capital: Preferred stock, 5%, 45 par, 140,000 shares authorized, 1,400 isuused and outstanding
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Unformatted text preview: $63,000 Common stock, $2 par, 525,000 shares authorized, 64,300 shares issued and outstanding $128,600 Paid-in Capital in excess of par-common $44,300 Total Paid in Capital $235,900 Retained Earnings $107,000 Total Stockholder's Equity $342,900...
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This note was uploaded on 08/09/2011 for the course ACCOUNTING --- taught by Professor --- during the Spring '11 term at Universidad Iberoamericana.

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