From the following partial mixed list, select the appropriate titles and prepare a stockholders equity section using

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From the following partial mixed list, select the appropriate titles and prepare a stockholders’ equity section using the source-of-capital approach as shown in the Blueprint example for Neon Corporation on July 31, 201X:

Office Equipment

$75,000

Land

190,000

Paid-In Capital in Excess of Par Value-Preferred Stock

100,000

Building

90,000

Accounts Receivable

115,000

Notes Receivable

41,000

Organization Costs

14,000

Common Stock, $10 par value (57,000 shares issued and outstanding: 100,000 shares authorized)

750,000

Retained Earnings

208,000

Subscriptions Receivable-Common Stock

75,000

Patents

8,000

Preferred 12% Stock, $53 Par (5,700 shares issued; 10,000 shares authorized)

302,100

Common Stock Subscribed at Par

245,000

Paid-In Capital in Excess of Par Value-Common Stock

18,000


Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
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College Accounting A Practical Approach

ISBN: 9780134729312

14th Edition

Authors: Jeffrey Slater, Mike Deschamps

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