FUND.ACCT.PRIN -ONLINE ONLY >I<
22nd Edition
ISBN: 9780077632878
Author: Wild
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Chapter 13, Problem 1BPSB
Problem 13-1B
C2 P1 
Weiss Company is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its stockholders’ equity during its ?rst year of operations.
| a. | Cash ………………………………………………………………………………… | 120,000 | |
| Common Stock, $1 Par Value ………………………………………… | 120,000 | ||
| Paid-In Capital Excess of Par Value, Common Stock ………….. | 117,000 | ||
| b. | Organization Expenses ……………………………………………………… | 40,000 | |
| Common Stock, $1 Par Value ……………………………………………. | 1,000 | ||
| Paid-In Capital Excess of Par Value, Common Stock …………… | 39,000 | ||
| c. | Cash ………………………………………………………………………………….. | 13,300 | |
| Accounts Receivable ………………………………………………………… | 8,000 | ||
| Building …………………………………………………………………………….. | 37,000 | ||
| Nets Payable …………………………………………………………………….. | 18,300 | ||
| Common Stock, $1 Par Value ……………………………………………. | 800 | ||
| Paid-In Capital Excess of Par Value, Common Stock …………… | 36,200 | ||
| d. | Cash ………………………………………………………………………………….. | 60,000 | |
| Common Stock, $1 Par Value ……………………………………………. | 1,200 | ||
| Paid-In Capital Excess of Par Value, Common Stock …………… | 58,800 |
Required
1. Explain the transaction(s) underlying each
2. How many shares of common stock are outstanding at year-end?
3. What is the amount of minimum legal capital (based on par value) at year-end?
4. What is the total paid-in capital at year-end?
5. What is the book value per share of the common stock at year-end if total paid-in capital plus
Check (2) 6,000 shares
(3) $6,000
(4) $260,000
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Problem 10-2A Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5)
Skip to question
[The following information applies to the questions displayed below.]
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 350 shares of preferred stock and 4,500 shares of common stock have been issued. The following transactions affect stockholders’ equity during 2021:
March
1
Issue 1,600 shares of common stock for $47 per share.
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Purchase 450 shares of treasury stock for $40 per share.
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10
Resell 250 shares of treasury stock purchased on May 15 for $45 per share.
October
15
Issue 250 shares of preferred stock for $50 per share.
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Declare a cash dividend on both common and preferred stock of $1.00 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury…
Chapter 13 Solutions
FUND.ACCT.PRIN -ONLINE ONLY >I<
Ch. 13 - Prob. 1DQCh. 13 - Prob. 2DQCh. 13 - Prob. 3DQCh. 13 - Prob. 4DQCh. 13 - Prob. 5DQCh. 13 - Prob. 6DQCh. 13 - Prob. 7DQCh. 13 - Prob. 9DQCh. 13 - Prob. 10DQCh. 13 - Prob. 11DQ
Ch. 13 - Prob. 12DQCh. 13 - Prob. 13DQCh. 13 - Prob. 14DQCh. 13 - Prob. 15DQCh. 13 - Prob. 16DQCh. 13 - Prob. 17DQCh. 13 - Prob. 8DQCh. 13 - Prob. 18DQCh. 13 - Prob. 19DQCh. 13 - Prob. 20DQCh. 13 - Prob. 21DQCh. 13 - Prob. 22DQCh. 13 - Prob. 1QSCh. 13 - Prob. 2QSCh. 13 - Prob. 3QSCh. 13 - Prob. 4QSCh. 13 - Prob. 5QSCh. 13 - Prob. 6QSCh. 13 - Prob. 7QSCh. 13 - Prob. 8QSCh. 13 - Prob. 9QSCh. 13 - Prob. 10QSCh. 13 - Prob. 11QSCh. 13 - Prob. 12QSCh. 13 - Prob. 13QSCh. 13 - Prob. 14QSCh. 13 - Prob. 15QSCh. 13 - Prob. 16QSCh. 13 - Prob. 17QSCh. 13 - Prob. 18QSCh. 13 - Prob. 19QSCh. 13 - Prob. 1ECh. 13 - Prob. 2ECh. 13 - Prob. 3ECh. 13 - Prob. 4ECh. 13 - Prob. 5ECh. 13 - Prob. 6ECh. 13 - Prob. 7ECh. 13 - Prob. 8ECh. 13 - Prob. 9ECh. 13 - Prob. 10ECh. 13 - Prob. 11ECh. 13 - Prob. 12ECh. 13 - Prob. 13ECh. 13 - Prob. 14ECh. 13 - Prob. 15ECh. 13 - Prob. 16ECh. 13 - Prob. 17ECh. 13 - Prob. 18ECh. 13 - Problem 13-1A Stockholders’ equity transactions...Ch. 13 - Prob. 2APSACh. 13 - Prob. 3APSACh. 13 - Prob. 4APSACh. 13 - Prob. 5APSACh. 13 - Problem 13-1B Stockholders’ equity transactions...Ch. 13 - Prob. 2BPSBCh. 13 - Prob. 3BPSBCh. 13 - Prob. 4BPSBCh. 13 - Prob. 5BPSBCh. 13 - Prob. 13SPCh. 13 - Prob. 1GLPCh. 13 - Prob. 2GLPCh. 13 - Prob. 1BTNCh. 13 - Prob. 2BTNCh. 13 - Prob. 3BTNCh. 13 - Prob. 4BTNCh. 13 - Prob. 5BTNCh. 13 - Prob. 6BTNCh. 13 - Prob. 7BTNCh. 13 - BTN 13–8 Review 30 to 69 minutes of financial news...Ch. 13 - Prob. 9BTN
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