Check my work Required information E11-5 (Algo) Reporting Stockholders' Equity and Determining Dividend Policy LO11-1, 11-3, 11-4, 11-7 (The following information applies to the questions displayed below.) Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock common stock, $19 par value. 11,500 shares authorized. During the year, the following selected transactions were completed: a. Sold 5,600 shares of common stock for cash at $38 per share. b. Sold 2,900 shares of common stock for cash at $43 per share c. At year-end, the accounts reflected income of $7,300. No dividends were declared. E11-5 Part 1 Required: 1. Prepare the journal entries required to record the sale of common stock in (a) and (b). Or no entry is required for a transaction/event, select "No journal entry required" in the first account field.) es Viuw transaction lit Journal entry worksheet 2 Check my work 3 2 of 4 Required information E11-5 (Algo) Reporting Stockholders' Equity and Determining Dividend Policy L011-1, 11-3, 11-4, 11-7 [The following information applies to the questions displayed below.) Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $19 par value, 11,500 shares authorized. During the year, the following selected transactions were completed: a. Sold 5,600 shares of common stock for cash at $38 per share. b. Sold 2,900 shares of common stock for cash at $43 per share. c. At year-end, the accounts reflected income of $7,300. No dividends were declared. 5 apped -Book E11-5 Part 2 2. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet. (Amounts to be deducted should be indicated by a minus sign.) TARRANT CORPORATION Balance Sheet (Partia) At December 31, This year Stockholders' equity Contributed capital Total contributed capital 0 CE Proy 5 of 10 Next > meducation.com/ext/map/index.html?_con=con&external browser=0&launch 252Fims.mneduct Ost-Lecture HW 6 Saved Help Save & Exit Submit Check my work Required information E11-5 (Algo) Reporting Stockholders' Equity and Determining Dividend Policy LO11-1, 11-3, 11-4, 11-7 (The following information applies to the questions displayed below.) Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $19 par value, 11,500 shares authorized. During the year , the following selected transactions were completed: a. Sold 5,600 shares of common stock for cash at $38 per share. b. Sold 2,900 shares of common stock for cash at $43 per share, c. At year-end, the accounts reflected income of $7,300. No dividends were declared. E11-5 Part 1 Required: 1. Prepare the journal entries required to record the sale of common stock in (a) and (b). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Check my work Required information E11-5 (Algo) Reporting Stockholders' Equity and Determining Dividend Policy L011-1, 11-3, 11-4, 11-7 [The following information applies to the questions displayed below.) Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $19 par value, 11,500 shares authorized. During the year, the following selected transactions were completed: a. Sold 5,600 shares of common stock for cash at $38 per share. b. Sold 2,900 shares of common stock for cash at $43 per share. c. At year-end, the accounts reflected income of $7,300. No dividends were declared. E11-5 Part 2 2. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet. (Amounts to be deducted should be indicated by a minus sign.) TARRANT CORPORATION Balance Sheet (Partial) At December 31. This year Stockholders' equity Contributed capital Total contributed capital 0
