Pinkerton Stores is authorized to issue 13,000 shares of common stock. During a two-month period, Pinkerton completed
Question:
Mar 23 Issued 3,000 shares of $6.00 par common stock for cash of $15.50 per share.
Apr 12 Received inventory with a market value of $20,000 and equipment with market value of $39,000 for 3,100 shares of the $6.00 par common stock.
Requirements
1. Journalize the transactions.
2. Prepare the stockholders' equity section of Pinkerton Stores' balance sheet for the transactions given in this exercise. Retained Earnings has a balance of $46,000.
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...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Req 1 Journal DATE ACCOUNT TITLES AND EXPLANATION DEBIT C...View the full answer
Answered By
Robert Mbae
I have been a professional custom essay writer for the last three years. Over that period of time, I have come to learn the value of focusing on the needs of the clients above everything else. With this knowledge, I have worked hard to become an acclaimed writer that can be trusted by the customers to handle the most important custom essays. I have the necessary educational background to handle projects up to the Ph.D. level. Among the types of projects that I've done, I can handle everything within Dissertations, Project Proposals, Research Papers, Term Papers, Essays, Annotated Bibliographies, and Literature Reviews, among others.
Concerning academic integrity, I assure you that you will receive my full and undivided attention through to the completion of every essay writing task. Additionally, I am able and willing to produce 100% custom writings with a guarantee of 0% plagiarism. With my substantial experience, I am conversant with all citation styles ranging from APA, MLA, Harvard, Chicago-Turabian, and their corresponding formatting. With all this in mind, I take it as my obligation to read and understand your instructions, which reflect on the quality of work that I deliver. In my paper writing services, I give value to every single essay order. Besides, whenever I agree to do your order, it means that I have read and reread your instructions and ensured that I have understood and interpreted them accordingly.
Communication is an essential part of a healthy working relationship. Therefore, I ensure that I provide the client with drafts way long before the deadline so that the customer can review the paper and comment. Upon completion of the paper writing service, the client has the time and right to review it and request any adjustments before releasing the payment.
1+ Reviews
10+ Question Solved
Related Book For 
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
Question Posted:
