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I just need answers to 5 example problems in accounting. I have gotten some of them halfway done but I don't understand how to complete
I just need answers to 5 example problems in accounting. I have gotten some of them halfway done but I don't understand how to complete them. I'm sure someone with experience could get them done fairly easy. I will attach the documents and how they expect me to lay them out in excel.
EX 11-1 Dividends per share OBJ. 2 Triple Z Inc., a developer of radiology equipment, has stock outstanding as follows: 12,000 shares of cumulative preferred 2% stock, $150 par and 50,000 shares of $10 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $27,000; second year, $60,000; third year, $80,000; fourth year, $90,000. Calculate the dividends per share on each class of stock for each of the four years. EX 11-2 Dividends per share OBJ. 2 Lightfoot Inc., a software development firm, has stock outstanding as follows: 40,000 shares of cumulative preferred 1% stock, $125 par, and 100,000 shares of $150 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $36,000; second year, $58,000; third year, $75,000; fourth year, $124,000. Calculate the dividends per share on each class of stock for each of the four years. EX 11-3 Entries for issuing par stock OBJ. 2 On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 75,000 shares of $45 par common stock at $54, and on August 7, it issued for cash 20,000 shares of preferred stock, $10 par at $12. a. Journalize the entries for April 20 and August 7. b. What is the total amount invested (total paid-in capital) by all stockholders as of August 7? EX 11-4 Entries for issuing no-par stock OBJ. 2 On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 750,000 shares of nopar common stock (with a stated value of $1.50) at $4, and on June 30, it issued for cash 17,500 shares of preferred stock, $50 par at $60. a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. b. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? EX 11-5 Issuing stock for assets other than cash OBJ. 2 On July 11, American Lift Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 5,000 shares of $5 par common stock with a current market price of $32. Journalize the entry to record the transaction.Step by Step Solution
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