Grouper Corporation was organized on January 1, 2022. It is authorized to issue 15,000 shares of...
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Grouper Corporation was organized on January 1, 2022. It is authorized to issue 15,000 shares of 8%, $100 par value preferred stock, and 549,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 75,500 shares of common stock for cash at $6 per share. Mar 1 Issued 5,950 shares of preferred stock for cash at $110 per share. Apr. 1 Issued 24,500 shares of common stock for land. The asking price of the land was $93,000. The fair value of the land was $83,000. May 1 Issued 80,000 shares of common stock for cash at $4.25 per share. Aug. 1 Sept. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill of $45,000 for services performed in helping the company organize. Issued 10,500 shares of common stock for cash at $7 per share. Nov. 1 Issued 2,500 shares of preferred stock for cash at $114 per share. (a) (b) (c) Prepare the paid-in capital section of stockholders' equity at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) GROUPER CORPORATION Balance Sheet (Partial) Grouper Corporation was organized on January 1, 2022. It is authorized to issue 15,000 shares of 8%, $100 par value preferred stock, and 549,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 75,500 shares of common stock for cash at $6 per share. Mar 1 Issued 5,950 shares of preferred stock for cash at $110 per share. Apr. 1 Issued 24,500 shares of common stock for land. The asking price of the land was $93,000. The fair value of the land was $83,000. May 1 Issued 80,000 shares of common stock for cash at $4.25 per share. Aug. 1 Sept. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill of $45,000 for services performed in helping the company organize. Issued 10,500 shares of common stock for cash at $7 per share. Nov. 1 Issued 2,500 shares of preferred stock for cash at $114 per share. (a) (b) (c) Prepare the paid-in capital section of stockholders' equity at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) GROUPER CORPORATION Balance Sheet (Partial)
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I see you have a companys stock issuance record and you need to prepare the paidin capital section of the stockholders equity as of December 31 2022 The stock transactions listed include the issuance ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 9781119790976
18th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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