1 med chp 18 excel

PLEASE FIND ALL ANSWERS USING THE EXCEL FORMULA

1) Sold 3,000,000 common shares for $9.00 per share. \begin{tabular}{|c|c|c|c|} \hline Date & General Journal & Debit & Credit \\ \hline \multicolumn{4}{|l|}{ January 12} \\ \hline & & & \\ \hline & & & \\ \hline \multicolumn{4}{|c|}{ 2) Issued 60,000 common shares in exchange for legal services. } \\ \hline Date & General Journal & Debit & Credit \\ \hline \multicolumn{4}{|l|}{ February 1} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \multicolumn{4}{|c|}{ 3) Sold 120,000 of its common shares and 24,000 preferred shares for a total of $1,884,000. } \\ \hline Date & General Journal & Debit & Credit \\ \hline \multicolumn{4}{|l|}{ February 1} \\ \hline \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \multicolumn{4}{|c|}{\begin{tabular}{l} 4) Issued 480,000 of its common shares in exchange for land for which the cash price was known to be \\ $5,424,000. \end{tabular}} \\ \hline Date & General Journal & Debit & Credit \\ \hline \multicolumn{4}{|c|}{ September 4} \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} 5) Prepare the shareholders' equity section of the balance sheet for the Anchor Holdings Company at December 31. Net income for the year was $0 and dividends totaled $0. \begin{tabular}{|l|l|l|} \hline Net income for the year ended December 31 & $0 \\ \hline Dividends paid during the year & & $0 \\ \hline \end{tabular} 1) Sold 3,000,000 common shares for $9.00 per share. \begin{tabular}{|c|c|c|c|} \hline Date & General Journal & Debit & Credit \\ \hline \multicolumn{4}{|l|}{ January 12} \\ \hline & & & \\ \hline & & & \\ \hline \multicolumn{4}{|c|}{ 2) Issued 60,000 common shares in exchange for legal services. } \\ \hline Date & General Journal & Debit & Credit \\ \hline \multicolumn{4}{|l|}{ February 1} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \multicolumn{4}{|c|}{ 3) Sold 120,000 of its common shares and 24,000 preferred shares for a total of $1,884,000. } \\ \hline Date & General Journal & Debit & Credit \\ \hline \multicolumn{4}{|l|}{ February 1} \\ \hline \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \multicolumn{4}{|c|}{\begin{tabular}{l} 4) Issued 480,000 of its common shares in exchange for land for which the cash price was known to be \\ $5,424,000. \end{tabular}} \\ \hline Date & General Journal & Debit & Credit \\ \hline \multicolumn{4}{|c|}{ September 4} \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} 5) Prepare the shareholders' equity section of the balance sheet for the Anchor Holdings Company at December 31. Net income for the year was $0 and dividends totaled $0. \begin{tabular}{|l|l|l|} \hline Net income for the year ended December 31 & $0 \\ \hline Dividends paid during the year & & $0 \\ \hline \end{tabular}