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I honestly do not know what is required here, but I am to assume that it needs to be filled out using these journal entries
I honestly do not know what is required here, but I am to assume that it needs to be filled out using these journal entries I figured.
8 Cash 30,000 Treasury Stock Paid-in-capitial-Treasury Stock 20,000 10,000 To record reissuance of treasury stock 9 Cash 300,000 Common Stock Paid-in-Capital in Excess of Par-Common Stock 20,000 280,000 To record proceeds from issuance of common stock 10 Interest Expense Premium on Bonds Payable 43,244 6,756 Interest Payable 50,000 To record the accrual of interest and discount amortization 11 Bad Debt Expense 40,000 Allowance for Doubtful Accounts 40,000 To record the estimate for bad debts expense 12 Investment in Common Stock of XYZ Company 25,000 Unrealized Gains on Investment 25,000 To record end of year adjusting entry for stock investment A B D E F G H I J K L M ABC Corporation Statement of Shareholders' Equity For the Year Ended December 31, 2021 PIC PIC Total Common Common Treasury Treasury Retained Shareholders Stock Stock Stock Stock Earnings 'Equity Balance as of January 1, 2021 1/1, sold 125,000 shares of Common Stock, par $1 7/1, repurchased 5,000 shares at $10 each for Treasury Stock 12/31, 2,000 shares of Treasury stock resold for $15 each 12/31 issued 20,000 shares of Commn Stock par $1, for $15 each Net Income Less: Dividends Balance as of December 31, 2021 0 0 0 0 8 Cash 30,000 Treasury Stock Paid-in-capitial-Treasury Stock 20,000 10,000 To record reissuance of treasury stock 9 Cash 300,000 Common Stock Paid-in-Capital in Excess of Par-Common Stock 20,000 280,000 To record proceeds from issuance of common stock 10 Interest Expense Premium on Bonds Payable 43,244 6,756 Interest Payable 50,000 To record the accrual of interest and discount amortization 11 Bad Debt Expense 40,000 Allowance for Doubtful Accounts 40,000 To record the estimate for bad debts expense 12 Investment in Common Stock of XYZ Company 25,000 Unrealized Gains on Investment 25,000 To record end of year adjusting entry for stock investment A B D E F G H I J K L M ABC Corporation Statement of Shareholders' Equity For the Year Ended December 31, 2021 PIC PIC Total Common Common Treasury Treasury Retained Shareholders Stock Stock Stock Stock Earnings 'Equity Balance as of January 1, 2021 1/1, sold 125,000 shares of Common Stock, par $1 7/1, repurchased 5,000 shares at $10 each for Treasury Stock 12/31, 2,000 shares of Treasury stock resold for $15 each 12/31 issued 20,000 shares of Commn Stock par $1, for $15 each Net Income Less: Dividends Balance as of December 31, 2021 0 0 0 0Step by Step Solution
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