subject
Business, 27.02.2020 19:29 theojw

Jan. 1. Announced a 4-for-1 common stock split, reducing the par value of the common stock to $1.00 per share. Mar. 30. Converted $100,000 face value of convertible bonds payable (the book value of the bond was $103,000) to common stock. Each $1,000 bond converted to 110 shares of common stock. June 1. Acquired equipment with a fair market value of $40,000 in exchange for 200 shares of preffered stock. Sept. 1. Acquired 10,000 shares of common stock for cash at $21 cash per share. Nov. 21 Issued 5,000 shares if common stock at $22 cash per share. Dec. 28. Sold 500 treasury shares at $23 per share. Dec. 31. Closed net income of $150,000 to the Retained Earnings account. Required: a. Set up T-accounts for the stockholders' equity accounts as of the beginning of the year and enter the January 1 balances. b. Prepare journal entries for the given transactions and post them to the T-accounts .

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 20:00
To be able to better compare stock performance within the same industry, similar companies are grouped into? a)market sectors b) industry blocks c) performance sectors d) average earning blocks
Answers: 1
question
Business, 22.06.2019 02:30
The dollar value generated over decades of customer loyalty to your company is known as brand equity. viability. sustainability. luck.
Answers: 1
question
Business, 22.06.2019 23:30
What is the difference between career options in the law enforcement pathway and career options in the correction services pathway?
Answers: 1
question
Business, 23.06.2019 23:30
Successful firms focus their efforts on satisfying customer needs that match their core competencies. select one: a. true b. false
Answers: 1
You know the right answer?
Jan. 1. Announced a 4-for-1 common stock split, reducing the par value of the common stock to $1.00...
Questions
question
Mathematics, 09.03.2021 01:10
question
Mathematics, 09.03.2021 01:10
question
English, 09.03.2021 01:10
question
Chemistry, 09.03.2021 01:10
Questions on the website: 13722367