Concord Corp completed the following transactions in 2013, the first year of operation 1 Issued 30,000 shares of $10 par common stock for $15 per share 2 Issued 6,000 shares of $100 par, 5 percent, preferred stock at $101 per share 3 Paid the annual cash dividend to preferred shareholders 4 Issued ...

a NC Net Change in Cash Concord Corp Statements Model For 2013 Balance Sheet Income Statement Statement of Event Assets Stockholders Equity Rev Exp Ne ...

Concord Corp. completed the following transactions in 2013, the first year of operation: 1. Issued 30,000 shares

Question:

Concord Corp. completed the following transactions in 2013, the first year of operation:
1. Issued 30,000 shares of $10 par for $15 per share.
2. Issued 6,000 shares of $100 par, 5 percent, preferred stock at $101 per share.
3. Paid the annual cash to preferred shareholders.
4. Issued a 5 percent stock on the . The market value at the declaration date was $19 per share.
5. Later that year, issued a 2-for-1 split on the 31,500 shares of outstanding .
6. Earned $165,000 of cash revenues and paid $98,000 of cash operating expenses.
7. Closed the revenue, expense, and accounts to retained earnings.

Required
a. Record each of these events in a horizontal statements model like the following one. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an element is not affected by the event.

b. Record the 2013 transactions in general journal form and post them to T-accounts.
c. Prepare the stockholders€™ equity section of the balance sheet at the end of2013.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...