M1_solution - X421.2: Solution for E15-2 Jan. 10...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
X421.2: Solution for E15-2 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— 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
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

M1_solution - X421.2: Solution for E15-2 Jan. 10...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online