Question
12/31/04 had the following balances in its S.E section of the B.S: Common Stock, $.50 par $300k APIC - Common Stock $4 million APIC -
12/31/04 had the following balances in its S.E section of the B.S:
Common Stock, $.50 par $300k
APIC - Common Stock $4 million
APIC - Share Repurchase $50k
R.E $2 million
Treasury Stock, at cost, 30k shares $(600k)
During 2004 completed the follwing transactions
#1)
2/20: Issued40k shares of common stock (with a $.50 par value) in exchange for a machine w/ an appraised value of $800k
Required:
Answr the following Q's regarding certain amounts that would report within its 12/31/04 S.E section of the B.S
What is the required journal entry on 2/20?
#2)
6/17 : Resold 15k shares of treasury stock for $240k (The treasury stock was resold relates to common stock that was originally issue for $18 per share & was reacquired for $20 per share during 2003.)
Required:
Answr the following Q's regarding certain amounts that would report within its 12/31/04 S.E section of the B.S
What is the required journal entry on 6/17?
#3)
12/2 Issued 10k shares of common stock for $24 per share. Share issue costs to promote the stock issuance totaled $15k
Required:
Answr the following q's regarding certain amounts that would report within its 12/31/04 S.E section of the B.S
What is the required journal entry on 12/2?
#4)
12/31 Reported NI of $1.5 million and other comprehensve income of $200k on the companys statement of comprehensive income.
Required:
Answr the following Q's regarding certain amounts that would report within its 12/31/04 S.E section of the B.S
What is the required journal entry on 12/31? *There are 2 journal entries*
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