Question
1). Shepherd Companys Stockholders equity is as follows: Common Stock, $ 2 par $11,278 Additional PIC 27,099 Treasury Stock, $ 4 $ 3,545 What is
1). Shepherd Companys Stockholders equity is as follows:
Common Stock, $ 2 par $11,278
Additional PIC 27,099
Treasury Stock, $ 4 $ 3,545
What is the average issue price of the common stock? Round your answer to 2 decimal places!
2). On October 1, 2018, Mills Company borrowed $73,000 cash on a one-year note that required Mills to pay 7 percent interest and $73,000 principal, both on September 30, 2019.
Assuming the note is paid when due in 2019, what is the debit to interest payable when recording the payment of the note?
3).
On September 1, 2018, Mills Company borrowed $88,000 cash on a one-year note that required Mills to pay 10 percent interest and $88,000 principal, both on August 31, 2019.
Assuming the note is paid when due in 2019, what is the debit to interest expense when recording the payment of the note?
This is all the info given any help is appreciated
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