495,000 0 Pald-in-Capita Issued common stock for equipment. Apr.20 Cash Preferred Stock Paid-in-Capital in excess of Par Value - Preferred Stock Issued shares of preferred stock. 0 450,000 45,000 0 $ b. Prepare the stockholders' equity section of the balance sheet at April 30. Assume that the net income for April is $49,000. Stockholders' Equity Paid in Capital Preferred Stock OX Common Stock 0 X $ Additional Paid-in-Capital OX Paid-in-Capital in Excess of Par value - Preferred Stock 0 x Paid-in-Capital in Excess of Par value - Common Stock Total Paid-in-Capital Retained Earnings 0x Total Stockholders' Equity 0 X OX 0 x $ Check Debit $ 1,245,000 0 $ Credit 0 415,000 830,000 0 0 34,000 0 a. Prepare journal entries to record the above transactions. General Journal Date Description Apr.01 Cash Common Stock Paid-in-Capital in Excess of Par Value - Common Stock Issued shares of common stock. Apr 03 Organization Costs Common Stock Paid-in-Capital in Excess of Par Value - Common Stock Issued common stock for organization costs. Apr.08 Equipment Common Stock Paid-in-Capital in Excess of Par Value - Common Stock Issued common stock for equipment. Apr 20 Cash Preferred Stock Paid-in-Capital in Excess of Par Value - Preferred Stock Issued shares of preferred stock, 25,000 9,000 0 51,000 0 20,000 31,000 0 495,000 0 0 450,000 45,000 0 b. Prepare the stockholders' equity section of the balance sheet at April 30. Assume that the net income for April is $49,000. Stockholders' Equity Paid in Capital Preferred Stock $ 0 X Common Stock 0 X 5 0 x Additional Paid in Capital Paid-in-Capital in Excess of Par value - Preferred Stock 0 x Paid-in-Capital in Excess of Par value - Common Stock 0X Stockholders Equity Transactions and Balance Sheet Presentation Tunic Corporation was organized on April 1, with an authoritation of 25.000 shares of six percent Spor ve referred stock and 200.000 shares of par le commer transactions affecting stockholders equity occurred App 1 sud KLO stures of common Mock at 515 cashers sued 5.000 shares of common stock to one and promoters in exchange for the www.swed Med 4.000 shares of earn stock in e change for egenwar market to 1000 20.000 hares of rock for that perhe Required a. Prepare journal entries to record the above transactions General Journal Date Description Apr 01 Cash Common Stock Paid in Capital in Excess of Parva Common Stock sued shares of common stock Debit 1245.000 0 Credit O 415.000 0.000 0 34000 Stockholders' Equity: Transactions and Balance Sheet Presentation Tunic Corporation was organized on April 1, with an authorization of 25,000 shares transactions affecting stockholders' equity occurred: Apr. 1 Issued 83,000 shares of common stock at $15 cash per share. 3 Issued 5,000 shares of common stock to attorneys and promoters in exchange for their se 8 Issued 4,000 shares of common stock in exchange for equipment with a fair market value 20 Issued 9,000 shares of preferred stock for cash at $55 per share. a Crec e 415 830 Required a. Prepare journal entries to record the above transactions. General Journal Date Description Debit Apr.01 Cash $ 1,245,000 $ Common Stock 0 Paid-in-Capital in Excess of Par Value - Common Stock 0 Issued shares of common stock. Apr 03 Organization Costs 34,000 Common Stock 0 Paid-in-Capital in Excess of Par Value - Common Stock 0 Issued common stock for organization costs. 51,000 Apr.08 Equipment 0 Common Stock 0 Paid-in-Capital in Excess of Par Value - Common Stock Issued common stock for equipment. 495,000 25 0 . 20 31 Stockholders' Equity: Transactions and Balance Sheet Presentation Tune Corporation was organized on April with an authorization of 25.000 shares of six percent 350 par value preferred stock and 200.000 charm of 55 per value common stock. Durin April the following transactions affecting to holders' equity occurred 000 wes of the 3.000 share committed and work or portion. The des finance for w of 30.com for that persone Credit Required Prepare journal entries to record the above ansactions General Journal Dale Description Delle Lan 1000 S Car Stock Fadliness of P Valve Common Stuck and has a common stock Arm Orion Coti 4.000 Coronto Patina of Patie Common Stock stock for two A Em 51.000 -115.000 830.000 25.000 9.000 0