Home Insert Draw Page Layout Formulas Data Review View Tell me Calibri (Bodyl 11 General A A a.A. Wrap Test Merge este B TV 5 %) AN39 Xfx c A D F L N 0 PREDSTOCK 19 11 12 Ieb 500,00 100,000 50.000 20 Sr. 13 4 Dept 0-3 Fetul AT Land Per OSC 17 18 COMMON STOCK Pod Cash 1000 10 M1 1 30.000 80.00 21 PAR S-OCT -1 12 13 14 15 470.000 Commen Paino 24 35 PAID-IN CAPITAL EXCESS OF PAR PREFERRED STOCK Se 1 19 PartOP 75.000 20.00 15000 6000 118.000 21 22 23 UN 11 DO Commen Pulse common Stock Des PADIN CAPITAL IN EXCESS OF PAR COMMON STOR 27 700.000 17 -Det 0-Dec . 7. 19 31 RETARD EARNINGS 1 30 40 Sheet MacBook Air 30 FI S ! N # 3 $ 4 % 5 & 7 2 2 6 E Q W E 70 Y tab A S D F G caps lock 11 v Calibri (Body) A General Wrap Text Pasto B I u v a. Av Merge & Center $ 9 AN39 fc N A B D M E F H 3 9 1 2 Go 10 13 PREFERRED STOCK Jan. 1 Bal 1-Feb 0- March 1 0-Sept 1 0-Dec 31 11 12 13 500,000 100,000 50,000 20.000 670,000 14 5 Date Feb. 1 6 15 16 17 7 8 19 10 Mar. 1 18 19 20 21 COMMON STOCK Jan. 1 Bal 0 July 1 0-DEC 1 O-dec 31 350,000 80,000 40,000 470,000 July 1 22 23 24 25 26 27 11 12 13 14 15 16 17 18 19 20 21 Account Land Perferred Stock (2 Paid in capital in e Preferred Stock Cash (1000 65) Prefeered Stock (10 Paid in capital in ex Perferred Stock Cash (16,000 7) Common Stock (16. Paid in capital in exc common Stock Patent (400*70) Pertemed Stock (400 Paid in capital in exce Perferred Stock Cash (80007 50 Common Stock (8.000 Paid in capital in exce common Stock Income Sumary Retained Eamings Sept. 1 28 29 PAID-IN CAPITAL IN EXCESS OF PAR PREFERRED STOCK Jan. 1 Bal 0-Feb 1 0 March 1 0- Sept 0-Dec 31 75,000 20,000 15000 8000 Dec. 1 30 118,000 Dec 31 31 32 33 34 35 36 37 38 39 40 41 42 PAID-IN CAPITAL IN EXCESS OF PAR. COMMON STOCK Jan. 1 Bal O July 1 0-Dec 1 0-Dec 31 23 24 125 26 27 28 29 30 700.000 32.000 20.000 752,000 31 32 34 RETAINED EARNINGS Jan 1 Bal 300,000 45 46 35 36 37 38 39 40 48 Sheet1 Ready Home - Students - louro.edu Homework #5-stock transactions Announcements Do Syllabus acc 2 problem 13-4A Due Sunday by 11:59pm Points 10 Submitting a text entry box or a file upload Modules Assignments Discussions Grades Yuja 33 acc 2 problem 13-4A a and b and c template.xlsx Do problem 13-4A from the text (page 13-30) on the attached excel spreadsheet. I've included a copy of the problem below, and you can find it in the ebook as well, on wileyplus. P13.4A (LO 1, 2, 3) Peck Corporation is authorized to issue 20,000 shares of $50 par value, 10% preferred stock and 125,000 shares of $5 par value common stock. On January 1, 2020, the ledger contained the following stockholders' equity balances Preferred Stock (10,000 shares) $500,000 Paid-in Capital in Excess of Par-Preferred Stock 75,000 Common Stock (70,000 shares) 350,000 Paid in Capital in Excess of Par-Common Stock 700,000 Retained Earnings 300,000 During 2020, the following transactions occurred, Feb. 1 Issued 2,000 shares of preferred stock for land having a fair value of $120,000 Mar. 1 Issued 1,000 shares of preferred stock for cash at $65 per share. July 1 Issued 16,000 shares of common stock for cash at $7 per share. Sept. 1 Issued 400 shares of preferred stock for a patent. The asking price of the patent was $30,000. Market price for the preferred stock was $70 and the fair value for the patent was indeterminable. Dec. 1 Issued 8,000 shares of common stock for cash at $7.50 per share. Dec. 31 Net income for the year was $260.000. Instructions a: Journalize the transactions and the closing entry for net income. b. Enter the beginning balances in the accounts, done for you and post the above journal entries to the stockholders' equity accounts. Use the accounts that have been set up for you on the excel spreadsheet) c. Prepare a stockholders' equity section at December 31, 2020, using the template Titles have been recorded for you. You must add in the missing information. The correct total for stockholders' equity is $2,570,000 Home - Students - louro.edu Homework #5-stock transactions Announcements Do Syllabus acc 2 problem 13-4A Due Sunday by 11:59pm Points 10 Submitting a text entry box or a file upload Modules Assignments Discussions Grades Yuja 33 acc 2 problem 13-4A a and b and c template.xlsx Do problem 13-4A from the text (page 13-30) on the attached excel spreadsheet. I've included a copy of the problem below, and you can find it in the ebook as well, on wileyplus. P13.4A (LO 1, 2, 3) Peck Corporation is authorized to issue 20,000 shares of $50 par value, 10% preferred stock and 125,000 shares of $5 par value common stock. On January 1, 2020, the ledger contained the following stockholders' equity balances Preferred Stock (10,000 shares) $500,000 Paid-in Capital in Excess of Par-Preferred Stock 75,000 Common Stock (70,000 shares) 350,000 Paid in Capital in Excess of Par-Common Stock 700,000 Retained Earnings 300,000 During 2020, the following transactions occurred, Feb. 1 Issued 2,000 shares of preferred stock for land having a fair value of $120,000 Mar. 1 Issued 1,000 shares of preferred stock for cash at $65 per share. July 1 Issued 16,000 shares of common stock for cash at $7 per share. Sept. 1 Issued 400 shares of preferred stock for a patent. The asking price of the patent was $30,000. Market price for the preferred stock was $70 and the fair value for the patent was indeterminable. Dec. 1 Issued 8,000 shares of common stock for cash at $7.50 per share. Dec. 31 Net income for the year was $260.000. Instructions a: Journalize the transactions and the closing entry for net income. b. Enter the beginning balances in the accounts, done for you and post the above journal entries to the stockholders' equity accounts. Use the accounts that have been set up for you on the excel spreadsheet) c. Prepare a stockholders' equity section at December 31, 2020, using the template Titles have been recorded for you. You must add in the missing information. The correct total for stockholders' equity is $2,570,000 Home Insert Draw Page Layout Formulas Data Review View Tell me Calibri (Bodyl 11 General A A a.A. Wrap Test Merge este B TV 5 %) AN39 Xfx c A D F L N 0 PREDSTOCK 19 11 12 Ieb 500,00 100,000 50.000 20 Sr. 13 4 Dept 0-3 Fetul AT Land Per OSC 17 18 COMMON STOCK Pod Cash 1000 10 M1 1 30.000 80.00 21 PAR S-OCT -1 12 13 14 15 470.000 Commen Paino 24 35 PAID-IN CAPITAL EXCESS OF PAR PREFERRED STOCK Se 1 19 PartOP 75.000 20.00 15000 6000 118.000 21 22 23 UN 11 DO Commen Pulse common Stock Des PADIN CAPITAL IN EXCESS OF PAR COMMON STOR 27 700.000 17 -Det 0-Dec . 7. 19 31 RETARD EARNINGS 1 30 40 Sheet MacBook Air 30 FI S ! N # 3 $ 4 % 5 & 7 2 2 6 E Q W E 70 Y tab A S D F G caps lock 11 v Calibri (Body) A General Wrap Text Pasto B I u v a. Av Merge & Center $ 9 AN39 fc N A B D M E F H 3 9 1 2 Go 10 13 PREFERRED STOCK Jan. 1 Bal 1-Feb 0- March 1 0-Sept 1 0-Dec 31 11 12 13 500,000 100,000 50,000 20.000 670,000 14 5 Date Feb. 1 6 15 16 17 7 8 19 10 Mar. 1 18 19 20 21 COMMON STOCK Jan. 1 Bal 0 July 1 0-DEC 1 O-dec 31 350,000 80,000 40,000 470,000 July 1 22 23 24 25 26 27 11 12 13 14 15 16 17 18 19 20 21 Account Land Perferred Stock (2 Paid in capital in e Preferred Stock Cash (1000 65) Prefeered Stock (10 Paid in capital in ex Perferred Stock Cash (16,000 7) Common Stock (16. Paid in capital in exc common Stock Patent (400*70) Pertemed Stock (400 Paid in capital in exce Perferred Stock Cash (80007 50 Common Stock (8.000 Paid in capital in exce common Stock Income Sumary Retained Eamings Sept. 1 28 29 PAID-IN CAPITAL IN EXCESS OF PAR PREFERRED STOCK Jan. 1 Bal 0-Feb 1 0 March 1 0- Sept 0-Dec 31 75,000 20,000 15000 8000 Dec. 1 30 118,000 Dec 31 31 32 33 34 35 36 37 38 39 40 41 42 PAID-IN CAPITAL IN EXCESS OF PAR. COMMON STOCK Jan. 1 Bal O July 1 0-Dec 1 0-Dec 31 23 24 125 26 27 28 29 30 700.000 32.000 20.000 752,000 31 32 34 RETAINED EARNINGS Jan 1 Bal 300,000 45 46 35 36 37 38 39 40 48 Sheet1 Ready Home - Students - louro.edu Homework #5-stock transactions Announcements Do Syllabus acc 2 problem 13-4A Due Sunday by 11:59pm Points 10 Submitting a text entry box or a file upload Modules Assignments Discussions Grades Yuja 33 acc 2 problem 13-4A a and b and c template.xlsx Do problem 13-4A from the text (page 13-30) on the attached excel spreadsheet. I've included a copy of the problem below, and you can find it in the ebook as well, on wileyplus. P13.4A (LO 1, 2, 3) Peck Corporation is authorized to issue 20,000 shares of $50 par value, 10% preferred stock and 125,000 shares of $5 par value common stock. On January 1, 2020, the ledger contained the following stockholders' equity balances Preferred Stock (10,000 shares) $500,000 Paid-in Capital in Excess of Par-Preferred Stock 75,000 Common Stock (70,000 shares) 350,000 Paid in Capital in Excess of Par-Common Stock 700,000 Retained Earnings 300,000 During 2020, the following transactions occurred, Feb. 1 Issued 2,000 shares of preferred stock for land having a fair value of $120,000 Mar. 1 Issued 1,000 shares of preferred stock for cash at $65 per share. July 1 Issued 16,000 shares of common stock for cash at $7 per share. Sept. 1 Issued 400 shares of preferred stock for a patent. The asking price of the patent was $30,000. Market price for the preferred stock was $70 and the fair value for the patent was indeterminable. Dec. 1 Issued 8,000 shares of common stock for cash at $7.50 per share. Dec. 31 Net income for the year was $260.000. Instructions a: Journalize the transactions and the closing entry for net income. b. Enter the beginning balances in the accounts, done for you and post the above journal entries to the stockholders' equity accounts. Use the accounts that have been set up for you on the excel spreadsheet) c. Prepare a stockholders' equity section at December 31, 2020, using the template Titles have been recorded for you. You must add in the missing information. The correct total for stockholders' equity is $2,570,000 Home - Students - louro.edu Homework #5-stock transactions Announcements Do Syllabus acc 2 problem 13-4A Due Sunday by 11:59pm Points 10 Submitting a text entry box or a file upload Modules Assignments Discussions Grades Yuja 33 acc 2 problem 13-4A a and b and c template.xlsx Do problem 13-4A from the text (page 13-30) on the attached excel spreadsheet. I've included a copy of the problem below, and you can find it in the ebook as well, on wileyplus. P13.4A (LO 1, 2, 3) Peck Corporation is authorized to issue 20,000 shares of $50 par value, 10% preferred stock and 125,000 shares of $5 par value common stock. On January 1, 2020, the ledger contained the following stockholders' equity balances Preferred Stock (10,000 shares) $500,000 Paid-in Capital in Excess of Par-Preferred Stock 75,000 Common Stock (70,000 shares) 350,000 Paid in Capital in Excess of Par-Common Stock 700,000 Retained Earnings 300,000 During 2020, the following transactions occurred, Feb. 1 Issued 2,000 shares of preferred stock for land having a fair value of $120,000 Mar. 1 Issued 1,000 shares of preferred stock for cash at $65 per share. July 1 Issued 16,000 shares of common stock for cash at $7 per share. Sept. 1 Issued 400 shares of preferred stock for a patent. The asking price of the patent was $30,000. Market price for the preferred stock was $70 and the fair value for the patent was indeterminable. Dec. 1 Issued 8,000 shares of common stock for cash at $7.50 per share. Dec. 31 Net income for the year was $260.000. Instructions a: Journalize the transactions and the closing entry for net income. b. Enter the beginning balances in the accounts, done for you and post the above journal entries to the stockholders' equity accounts. Use the accounts that have been set up for you on the excel spreadsheet) c. Prepare a stockholders' equity section at December 31, 2020, using the template Titles have been recorded for you. You must add in the missing information. The correct total for stockholders' equity is $2,570,000