+ Assets Accounts + Receivable + Supplies + Equipment - - Liabilities Accounts Notes Payable Payable Common Stock Stockholders' Equity Retained Earnings Revenue Expenses. Dividends Explanation Trans Cash + 1 + 2 + 3 4 5 G 8 + 2 + 10 + 12 + 13 5 Total Assets: $ Total Liabilities & Stockholders' Equity: 3 USE THE TABULAR SUMMARY TEMPLATE PROVIDED ABOVE FOR EACH QUESTION 1. You are an accountant working for a company that has recently decided to incorporate. The company has incurred $4,300 for attorney's fees, promotion costs, and filing fees with the state of incorporation as a part of organizing the corporate entity. Using the tabular summary, record these costs on March 13, assuming they are paid in cash. Remember to include a date each transaction, and an explanation for any changes in revenue and expenses. 2. On November 12th, Nutritious Pet Food Company's board of directors declares a cash dividend of $1.00 per common share, for shareholders of record on December 1st. On November 12th, the company has 12,000 shares outstanding but 2,000 shares are held as treasury shares. The company pays the dividend on December 14. Using a tabular summary, record the declaration, the date of record and the payment of the dividend. Remember to include a date on each transaction 3. Winger Corporation was organized in March. It is authorized to issue 500,000 shares of $100 par value 8% preferred stock. It is also authorized to issue 750,000 shares of $1 par value common stock. In its first year, the corporation has the following transactions: Mar. 1 Issued 10,000 shares of preferred stock at $115 per share Mar. 2 Issued 120,000 shares of common stock at $12.50 per share Jun. 12 Issued 10,000 shares of common stock at $15 per share Aug. 5 Issued 1,000 shares of preferred stock at $112 per share Sep. 17 Purchased 2,000 shares of its own common stock at $10 per share Prepared a tabular summary to record the necessary transactions. Remember to include a date on each transaction. + Assets Accounts + Receivable + Supplies + Equipment - - Liabilities Accounts Notes Payable Payable Common Stock Stockholders' Equity Retained Earnings Revenue Expenses. Dividends Explanation Trans Cash + 1 + 2 + 3 4 5 G 8 + 2 + 10 + 12 + 13 5 Total Assets: $ Total Liabilities & Stockholders' Equity: 3 USE THE TABULAR SUMMARY TEMPLATE PROVIDED ABOVE FOR EACH QUESTION 1. You are an accountant working for a company that has recently decided to incorporate. The company has incurred $4,300 for attorney's fees, promotion costs, and filing fees with the state of incorporation as a part of organizing the corporate entity. Using the tabular summary, record these costs on March 13, assuming they are paid in cash. Remember to include a date each transaction, and an explanation for any changes in revenue and expenses. 2. On November 12th, Nutritious Pet Food Company's board of directors declares a cash dividend of $1.00 per common share, for shareholders of record on December 1st. On November 12th, the company has 12,000 shares outstanding but 2,000 shares are held as treasury shares. The company pays the dividend on December 14. Using a tabular summary, record the declaration, the date of record and the payment of the dividend. Remember to include a date on each transaction 3. Winger Corporation was organized in March. It is authorized to issue 500,000 shares of $100 par value 8% preferred stock. It is also authorized to issue 750,000 shares of $1 par value common stock. In its first year, the corporation has the following transactions: Mar. 1 Issued 10,000 shares of preferred stock at $115 per share Mar. 2 Issued 120,000 shares of common stock at $12.50 per share Jun. 12 Issued 10,000 shares of common stock at $15 per share Aug. 5 Issued 1,000 shares of preferred stock at $112 per share Sep. 17 Purchased 2,000 shares of its own common stock at $10 per share Prepared a tabular summary to record the necessary transactions. Remember to include a date on each transaction
