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Can you answer the two questions?please Problem #1 (12 pts): On 10/1/17, Strand Corp borrowed $400,000 from the bank. Interest rate-696, 1 year note. Strand's
Can you answer the two questions?please Problem #1 (12 pts): On 10/1/17, Strand Corp borrowed $400,000 from the bank. Interest rate-696, 1 year note. Strand's year-end is December 31st. REQUIRED (using the Balance Sheet Equation): Show the accounting transaction necessary for the a. beginning of the note, b. Strand's year-end, c. the pay-off of the note 1. Prptem STM os #2 (15 pts): PARTA) Strand Corp started business with the following transactions. Show the accounting transactions using the Balance Sheet Equation: the following transaoti 1. Issued 10,000 shares of $1 par Common stock for S31/share 2. Issued 15,000 shares of $5 par Preferred stock for $50/share 3. Issued 33,000 shares of the Common stock for equipment (fimv $75,000, net book value- S60,000) 4. Issued 10,000 shares of the Common stock for $30/share 5. Issued 25,000 shares of the Preferred Stock for $50/share PART B) Show Strand's Stockholders Equity section after the transactions above
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