Harmsen Maintenance Corporation was organized in early 2012 with 60,000 shares of no-par common stock authorized. During

Question:

Harmsen Maintenance was organized in early 2012 with 60,000 shares of no-par authorized. During 2012, the following transactions occurred:
a. Issued 31,000 shares of stock at $24 per share.
b. Issued another 3,900 shares of stock at $28 per share.
c. Issued 3,000 shares for a building appraised at $90,000.
d. Declared dividends of $1.50 per share.
e. Earned net income of $187,000 for the year, including $405,000 of revenues and $218,000 of expenses, and closed these accounts.
f. Closed the dividends accounts.
Given this information:
1. Journalize the transactions.
2. Present the stockholders’ equity section of the as it would appear on December 31, 2012.

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