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can anyone help me resolve this excersices that I dont understand them thanks Problem 1 On January 1, 2017, Hannigan Company issued bonds with a
can anyone help me resolve this excersices that I dont understand them thanks Problem 1 On January 1, 2017, Hannigan Company issued bonds with a face value of $800,000. The bonds carry a stated interest of 7% payable each January 1. The life of the bonds is 10 years. 1. Record the issuance of the bonds assuming the bonds are issued at 97. 2. Prepare the section of Long term liabilities of the Balance Sheet on January 1, 2017. Page 2 ACCT 1161 On January 1, 2017, Hannigan Company issued bonds with a face value of $900,000. The bonds carry a stated interest of 9% payable each January 1. The life of the bonds is 10 years. 1. Record the issuance of the bonds assuming the bonds are issued at 105. 2. Prepare the section of Long term labilities of the Balance Sheet on January 1, 2017. Page 3 ACCT 1161 Problem 3 Hennes Corporation was organized on January 1, 2017. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock and 500,000 shares of common stock with a par value of $2 per share The following stock transactions were completed during the first year Jan. 10 Issued 40,000 shares of common stock for cash at $3.60 per share Mar. 1 Issued 5,000 shares of preferred stock for cash at $102 per share May 1 Issued 90,000 shares of common stock for cash at $4 per share Sept. 1 Issued 10,000 shares of common stock for cash at $4.40 per share Nov. 1 Issued 4,000 shares of preferred stock for cash at $103 per share Instructions a Record the stock transactions in the journal. (b) Prepare the paid-in capital section of stockholders' equity at December 31, 2017, Page 4 ACCT 1161 Problem4 DuBois Co. had these transactions during the current period June 12 Issued 80,000 shares of $1 par value common stock at $5 per share. July 11 Issued 3,000 shares of $100 par value preferred stock for cash at $102 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $10,000. Instructions Record the DuBois Co. transactions shown above
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