CH 15 Solutions(1) - EXERCISE 15-2 Jan. 10 Cash (80,000 X...

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EXERCISE 15-2 Jan. 10 Cash (80,000 X $5). ......................................... 400,000 Common Stock (80,000 X $2). .................. 160,000 Paid-in Capital in Excess of Stated Value—Common Stock (80,000 X $3). ........................................ 240,000 Mar. 1 Cash (5,000 X $108). ....................................... 540,000 Preferred Stock (5,000 X $50). .................. 250,000 Paid-in Capital in Excess of Par Value—Preferred Stock (5,000 X $58). ........................................ 290,000 April 1 Land. ................................................................ 80,000 Common Stock (24,000 X $2). .................. 48,000 Paid-in Capital in Excess of Stated Value—Common Stock ($80,000 – $48,000). ............................. 32,000 May 1 Cash (80,000 X $7). ......................................... 560,000 Common Stock (80,000 X $2). .................. 160,000 Paid-in Capital in Excess of Stated Value—Common Stock (80,000 X $5). ........................................ 400,000 Aug. 1 Organization Expense. .................................... 50,000 Common Stock (10,000 X $2). .................. 20,000 Paid-in Capital in Excess of Stated Value—Common Stock
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($50,000 – $20,000). ............................. 30,000 Sept. 1 Cash (10,000 X $9). ......................................... 90,000 Common Stock (10,000 X $2). .................. 20,000 Paid-in Capital in Excess of Stated Value—Common Stock (10,000 X $7). ........................................ 70,000 EXERCISE 15-2 (Continued) Nov. 1 Cash (1,000 X $112). ....................................... 112,000 Preferred Stock (1,000 X $50). .................. 50,000 Paid-in Capital in Excess of Par Value—Preferred Stock (1,000 X $62). ........................................ 62,000 EXERCISE 15-4 (a) (1) Unamortized Bond Issue Costs ($340,000 X $500/$850). ................................. 200,000 Cash ($850 X 9,600). .......................................... 8,160,000 Bonds Payable. ............................................ 5,000,000
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CH 15 Solutions(1) - EXERCISE 15-2 Jan. 10 Cash (80,000 X...

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