I need some help with this. I completed about half of it but I dont think my answers are right. My given numbers are in the Mar-Apr column. If someone could help with the portion I haven't worked it would be much appreciated.

1. Issuanceofstock

Preparejournalentriestorecordtheissuanceof100,000sharesofcommonstockat$20pershareforeachofthefollowingindependentcases:

1. JacksonCorporationhascommonstockwithaparvalueof$1pershare.
2. RoyalCorporationhasno-parcommonwithastatedvalueof$5pershare.
3. FrenchCorporationhasno-parcommon;nostatedvaluehasbeenassigned.

3.

Analysisofstockholders'equity

StarCorporationissuedbothcommonandpreferredstockduring20X6.Thestockholders'equitysectionsofthecompany'sbalancesheetsattheendof20X6and20X5follow:

Preferredstock,$100parvalue,10%	$580,000	$500,000
Commonstock,$10parvalue	2,350,000	1,750,000
Paid-incapitalinexcessofparvalue
Preferred	24,000	?
Common	4,620,000	3,600,000
Retainedearnings	8,470,000	6,920,000
Totalstockholders'equity	$16,044,000	$12,770,000

1. Computethenumberofpreferredsharesthatwereissuedduring20X6.
2. Calculatetheaverageissuepriceofthecommonstocksoldin20X6.
3. Bywhatamountdidthecompany'spaid-incapitalincreaseduring20X6?
4. DidStar'stotallegalcapitalincreaseordecreaseduring20X6?Bywhatamount?

PROB 3.

Issuanceofstock

VenturesInc.wasformedonJanuary1toinvestinartwork.Thecompanyisauthorizedtoissue10,000sharesof$1par-valuecommonstockand1,000sharesof10%,$50par-valuecumulativepreferredstock.Thefollowingselectedtransactionsoccurredduringthefirstquarterofoperation:

Jan.3	Sold5,000sharesofcommonstocktothecorporation'sfoundersat$30pershare.
19	Sold600sharesofpreferredstockat$58pershare.
Feb.4	Issued100commonsharestoanattorneyfor$3,300oflegalworkrelatedtocorporatestart-upandformation.
11	Issued2,000sharesofcommonstocktoPierreLaTourinexchangeforapaintingappraisedat$75,000.TheartoriginallycostLaTour$30,000.

Instructions

1. Preparejournalentriestorecordthecompany'stransactions.
2. Preparethestockholders'equitysectionofthefirm'sMarch31balancesheet.TheRetainedEarningsbalanceonthisdatetotals$41,000.
3. ThepresidentofVenturesbelievesthatorganizationcostsshouldbeexpensedimmediately.Brieflyexplainwhythepresident'sviewisincorrect.

Ex 4.

Basicmanufacturingcomputations

LyonManufacturingreportedtotalmanufacturingcosts(directmaterialsused,directlabor,andfactoryoverhead)of$549,000for20X3.Salesandoperatingexpenseswere$759,200and$142,500,respectively.Thefollowinginformationappearedoncompanybalancesheets:

	FortheYearEnded
	12/31/X3	12/31/X2
Finishedgoods	$150,000	$153,700
Workinprocess	86,400	74,100

Computecostofgoodsmanufactured,costofgoodssold,andnetincomefor20X3.

PRO 2

Straightforwardmanufacturingstatements

ThefollowinginformationwasextractedfromtheaccountingrecordsofOlympic Companyfortheyearjustended:

Sales	$628,000
Workinprocess,Jan.1	56,700
Advertisingexpense	23,500
Directmaterialpurchases	231,500
Finishedgoods,Dec.31	67,800
Indirectmaterialsused	12,300
Directlabor	85,600
Directmaterials,Jan.1	45,500
Finishedgoods,Jan.1	55,900
Directmaterials,Dec.31	38,200
Salesstaffsalaries	33,300
Workinprocess,Dec.31	47,400
Indirectlabor	50,700

Utilities,taxes,insurance,anddepreciationareincurredjointlybyOlympic'smanufacturing,sales,andadministrativefacilities.Thecostswereasfollows:

Utilities	$40,000
Taxes	25,000
Insurance	10,000
Depreciation	36,000

Thefirstthreecostsareallocatedproportionatelyonthebasisofsquarefeetoccupiedbythethreefunctionalareas.Areviewofthecompany'sfacilitiesrevealedthefollowingpercentageswouldbeappropriate:manufacturing,50%;sales,30%;andadministrative,20%.Depreciationisallocated70,20,and10%,respectively.

Instructions

1. Prepareascheduleofcostofgoodsmanufacturedingoodform.
2. Prepareanincomestatementingoodform.

Ashf LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT Exercise/ Problem Account to be changed Shares Share price $ Original Amount 100000 20 Ch 2 Ex 1 Questions YOUR ANSWERS BASED UPON COURSE START DATE A. Cash Common stock Paid-in-capital B. Cash Common stock Paid-in-capital C. Cash Common stock Ch 2 EX 3 Account to be changed Preferred stock, $100 par value, 10% Common par Original Amount 580000 10 YOUR ANSWERS BASED UPON COURSE START DATE A. Preferred shares issued B. Shares issued of common B. Average issued price of common C. Paid-in-capital increase D. Legal capital increase Ch 2 Pb 3 Account to be changed Jan 3, Common Shares sold Share price Attoney cost Original Amount 5000 58 3300 YOUR ANSWERS BASED UPON COURSE START DATE 3-Jan Cash Common stock Paid-in-capital in excess of par common stock Jan. 19 Cash Preferred stock Paid-in-capital in excess of par- Preferred stock 4-Feb Organization costs Common stock Paid-in-capital in excess of par common stock Investment in art work Common stock Paid-in-capital in excess of par common stock Stockholders Equity Common stock, $1 par-value, authorized 10,000 shares, shares issued and outstanding Preferred stock,10%, $50 par, authorized 1000 shares shares issued and outstanding Total Capital Stock Paid-in-Capital in excess of par: Common stock Preferred stock Total Paid-in-Capital Retained earnings Total Shareholders Equity Ch3 Ex 4 Account to be changed Original Amount 549000 759200 Manufacturing costs Sales YOUR ANSWERS BASED UPON COUR Cost of goods manufactured Beginning work in process Manufacturing costs Ending work in process Cost of goods manufactured Cost of goods sold Beginning finished goods Cost of goods manufactured Ending finished goods Cost of goods sold Net income Sales Cost of goods sold Operating expenses Net income Ch 3 Pb 2 Account to be changed Original Amount 628000 56700 23500 231500 Sales Work in process, Jan. 1 Advertising expense Direct material purchases YOUR ANSWERS BASED UPON COURSE START DATE a. Prepare a schedule of cost of goods manufactured in good form. Direct materials used Beginning raw materials inventory Net purchases Direct materials available Less: Ending raw materials inventory Direct materials used Direct labor Factory overhead Indirect materials used Indirect labor Utilities Taxes Insurance Depreciation Total manufacturing costs Add: Beginning work in process inventory Less: Ending work in process inventory Costs of goods manufactured Sales Cost of goods sold Beginning finished goods inv. Cost of goods manufactured Goods available for sale Less: Ending finished goods inv. Cost of goods sold Gross profit Operating expenses: Selling expenses: Advertising Sales staff salaries Utilities Taxes Insurance Depreciation Total selling expenses Administrative expenses: Utilities Taxes Insurance Depreciation Total administrative exp. Total operating expenses Net income Ashford University ACC206 Guidance Report Week Two YELLOW INDICATES ACCOUNT AMOUNTS CHANGED Change Account to: Based Upon Course Start Date Jan-Feb $ Mar-Apr 11000 21 $ May-Jun 12000 22 2000000 100000 1900000 2000000 1500000 500000 2000000 2000000 500000 800 1020000 20X6 600,000 11 20X5 500,000 20X6 620,000 12 20X5 500,000 20X6 640,000 13 27 1724000 increased. 680000 5,200 62 3,600 168000 5600 162400 42000 30000 12000 4200 100 4100 75000 2000 73000 7700 30000 37700 239500 12000 289200 41000 330200 5,400 66 3,900 5,600 70 4,200 12/31/X3 551,000 761,600 12/31/X2 12/31/X3 553,000 764,000 12/31/X2 12/31/X3 555,000 766,400 NSWERS BASED UPON COURSE START DATE 629000 57700 24500 232500 630000 58700 25500 233500 631000 59700 26500 234500 May-Jun $ Jul-Aug 13000 23 20X5 500,000 $ 20X6 660,000 14 Sept-Oct 14000 24 20X5 500,000 $ 20X6 680,000 15 Nov-Dec 15000 25 20X5 500,000 $ 100000 26 20X6 20X5 $ 700,000 $ 500,000 $ 16 5,800 74 4,500 6,000 78 4,800 6,200 82 5,100 12/31/X2 12/31/X3 557,000 768,800 632000 60700 27500 235500 12/31/X2 12/31/X3 559,000 771,200 633000 61700 28500 236500 12/31/X2 12/31/X3 561,000 773,600 634000 62700 29500 237500 12/31/X2