Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

HET pomp The cater for KIAP-TV, n. thorizes the company to be 100,000 short of 51, no par pretened stock and 600,000 shares of common

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
HET pomp The cater for KIAP-TV, n. thorizes the company to be 100,000 short of 51, no par pretened stock and 600,000 shares of common stock with St par vale. Dumng its start-up phos, KSAP-TV completed the folowing transaction ilk on the won to view the transactions) Road the remonts Requirement. Record the tractions in the generar ouma (record debitofrot, then credes, teclaration on the last we of a joumatery) Septed shes of common lock to the promotors who organized the corporation, moving cash of 80.000 Date Account and Explanation Debat Credit tep Sep 12 shares of preferred stock for cash of $20,000 Date Accounts and Explanation Debit Credit Sep 14 led 1,000 of common stock in exchange for land with a market value of $19.000 ER ens in the stock More info counts Sep. 6 Issued 300 shares of common stock to the promoters who organized the corporation, receiving cash of $9,000 Sep. 12 Issued 550 shares of preferred stock for cash of $29,000 Sep. 14 Issued 1,000 shares of common stock in exchange for land with a market value of $19,000 Assume KSAP-TV, Inc. had net income of $37,000 for the month. ed stoch scounts Print Done w fotowing transactions Dick on the icon to view the ansaction) Read the requirements Sep 14 ved 1.000 shares of common stock in exchange for land with a market value of $19,000 Date Accounts and Explanation Debit Credit Sep. 14 Requirement 2. Prepare the stockholders guty section of the KSAP - TV balance sheet at September 30, 2024, assuming KSAP-TV, Ine had not income of $27,000 for the month, KSAP TV, Inc. Balance Sheet(Partial September 30, 2024 Stockholders' Equity Paid-in Capital Requirement 2. Prepare we stockholders guy section of the KSAP - TV balance sheet at September 20, 2004, msuming KSAP-TV, Inc. had net income of $17,000 for the month. KIAP-TV, Inc Balance Sheet Partial September 30, 2024 Stockholders' Equity Paid in Capital Total Paid in Capital Tot Stockholders' Equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Learning Sage 50 Accounting A Modular Approach

Authors: Harvey Freedman, Carol Smith Smith

16th Edition

0176741437, 978-0176741433

More Books

Students also viewed these Accounting questions