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Part A)

The following are selected accounts for the Alpha Dog Company after all Fiscal Year December

31, 2016, adjusting entries & closing entries have been posted. All balances are normal.

Account Amount

Common Stock, $5 par


Treasury Stock, at cost $10 per share


Dividends Payable


Paid in Capital in excess of par, Common Stock


Paid in Capital in excess of par, Preferred Stock


Retained Earnings


Bonds Payable


Preferred Stock, $100 par, 5% cumulative


On December 31, 2016, Common Stock was authorized 50,000 shares and Preferred Stock was authorized 5,000 shares. Prepare only the Stockholder's Equity section of the Classified Balance Sheet for the year end. Be sure to use a good format, dollar signs and single underlines were required. There are a few extra lines in the formatted input answer form to allow for acceptable balance sheet format variations. 

Date Accounts Debit Credit

Part B)

On January 2, 2016, Alpha Corporation procured new equipment with an issue of 5,000 shares of $4.00 par value common stock. The equipment had an MSRP of $65,000. Alpha's stock was trading on the open market for $9.75 per share on January 2nd. Use this information to prepare the General Journal entry (without explanation) for the January 2 entry.

Date Accounts Debit Credit

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