ALT-STOCK ISSUANCE TOTAL SCORE: 0/17 There are 5 problems in this set. Choose a number between 1 and 5: DERIT CREDIT GRADE 0 0 Date Transaction 1/1/17 Carlyle Corporation issued 200,000 shares of $1.00 par commons.ock ut price of $1.00 per share D 0 0 1/10/17 Carlyle Corporation issued 40,000 shares of $1.00 par commons.ock ut price of $1.50 per share 0 O 1/15/17 Carlyle Curporation issued 800 shares of $100 per preferred stock, with a cand rate of 4.00% The shares were issued at par. 0 0 0 1/20/17 Carlyle Corporation purchased and with fair market value al $24,000 by issuing 5,000 shares of $1.00 par common stock 24.co Use the FMV of the land to value the transaction, because Carlyle's stack is not traded on an exchange S LINE LINE DATI GENERAL JOURNAL 6 1 1/1/17 7 2 & 3 9 4 1/10/17 10 5 11 6 12 7 7 13 8 1/15/17 14 9 15 10 16 11 17 12 1/20/17 12 13 19 14 20 15 21 16 22 17 1/31/17 23 18 24 19 25 20 1/31/17 26 21 27 22 28 23 1/31/17 29 24 30 25 26 32 27 33 28 34 29 35 30 36 31 37 32 38 39 TRIAL BALANCE 40 LASH 0 0 1/31/17 Carlylearned revenue on account this month of $70,000 0 0 1/31/17 Carlyle incurred expenses on account of $55.003. 0 CLOSING THE ACCOUNTS 1/31/17 Debit Revenue for total revenue med Credit Expenses for total penses incurred, Credit the net incomcamount to Retaired Earnings. 0 D "NateIn order to save space in the Journal, lused an abbreviated closing strategy, by closing revenues and expenses directly to retained Earnings rather than singar Income Summary account. There det. are debited, the cxpenses are credited, and the difference is the ret income DEBIT CREDIT DEBIT CREDIT TRIAL BALANCE CASH ACCOUNTS RECEIVABLE LAND ACCOUNTS PAYABLE COMMON STOCK COMMON STOCK DISTRIBUTABLE PAID IN CAPITAL IN EXCESS OF PAR PREFERRED STOCK RETAINED EARNINGS REVENUE EXPENSES 0 0 IN BALANCE BALANCE SHEET CASH ACCOUNTS RECEIVABLE LAND TOTAL ASSETS 0 ACCOUNTS PAYABLE COMMON STOCK PAID IN CAPITAL IN EXCESS OF PAR PREFERRED STOCK TOTAL PAID IN CAPITAL RETAINED EARNINGS TOTAL STOCKHOLDERS' EQUITY TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 0 #VALUE! #VALUE! ALT-STOCK ISSUANCE TOTAL SCORE: 0/17 There are 5 problems in this set. Choose a number between 1 and 5: DERIT CREDIT GRADE 0 0 Date Transaction 1/1/17 Carlyle Corporation issued 200,000 shares of $1.00 par commons.ock ut price of $1.00 per share D 0 0 1/10/17 Carlyle Corporation issued 40,000 shares of $1.00 par commons.ock ut price of $1.50 per share 0 O 1/15/17 Carlyle Curporation issued 800 shares of $100 per preferred stock, with a cand rate of 4.00% The shares were issued at par. 0 0 0 1/20/17 Carlyle Corporation purchased and with fair market value al $24,000 by issuing 5,000 shares of $1.00 par common stock 24.co Use the FMV of the land to value the transaction, because Carlyle's stack is not traded on an exchange S LINE LINE DATI GENERAL JOURNAL 6 1 1/1/17 7 2 & 3 9 4 1/10/17 10 5 11 6 12 7 7 13 8 1/15/17 14 9 15 10 16 11 17 12 1/20/17 12 13 19 14 20 15 21 16 22 17 1/31/17 23 18 24 19 25 20 1/31/17 26 21 27 22 28 23 1/31/17 29 24 30 25 26 32 27 33 28 34 29 35 30 36 31 37 32 38 39 TRIAL BALANCE 40 LASH 0 0 1/31/17 Carlylearned revenue on account this month of $70,000 0 0 1/31/17 Carlyle incurred expenses on account of $55.003. 0 CLOSING THE ACCOUNTS 1/31/17 Debit Revenue for total revenue med Credit Expenses for total penses incurred, Credit the net incomcamount to Retaired Earnings. 0 D "NateIn order to save space in the Journal, lused an abbreviated closing strategy, by closing revenues and expenses directly to retained Earnings rather than singar Income Summary account. There det. are debited, the cxpenses are credited, and the difference is the ret income DEBIT CREDIT DEBIT CREDIT TRIAL BALANCE CASH ACCOUNTS RECEIVABLE LAND ACCOUNTS PAYABLE COMMON STOCK COMMON STOCK DISTRIBUTABLE PAID IN CAPITAL IN EXCESS OF PAR PREFERRED STOCK RETAINED EARNINGS REVENUE EXPENSES 0 0 IN BALANCE BALANCE SHEET CASH ACCOUNTS RECEIVABLE LAND TOTAL ASSETS 0 ACCOUNTS PAYABLE COMMON STOCK PAID IN CAPITAL IN EXCESS OF PAR PREFERRED STOCK TOTAL PAID IN CAPITAL RETAINED EARNINGS TOTAL STOCKHOLDERS' EQUITY TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 0 #VALUE! #VALUE