Intermediate Accounting Chapter 18 Homework for Credit Use the following information for #1 -3: Motown Corporation has the following transactions, 200,000 2.00 Common shares issued in exchange for property Par value per share Fair market value of building received in exchange for stock Date of exchange 580,540 1/1/X1 1) How much (if any) should be debited to the Building account? If it is an INCREASE simply type in the amount. If it is a DECREASE type in the amount with a minus sign in front such as -100. If the answer is no impact type in the number zero "O". 2.) How much (if any) should be credited to the Common Stock account? If it is an INCREASE simply type in the amount If it is a DECREASE type in the amount with a minus sign in front such as -100. If the answer is no impact type in the number zero "O", 3.) The additional credit needed to balance the entry should go to what account? Use the following information for #4 - 5: Motown Corporation has the following transactions: Common shares issued Par value per share Share issue costs in total Date issued/purchased Purchased for per share $ $ 236,000 1.00 248,000 1/1/ X1 8.00 $ 4.) Consider the required journal entrie(s). What is the NET amount that goes to the Paid in Capital account. If it is a DEBIT simply type in the amount. If it is a CREDIT type in the amount with a minus sign in front such as -100. 5.) Consider the required journal entrie(s). What is the TOTAL impact on stockholder's equity from all journal entries? If it is an INCREASE simply type in the amount. If it is a DECREASE type in the amount with a minus sign in front such as -100. If the answer is no impact type in the number zero "0". Use the following information for 10 Par value of common Total dividend declared Date of declaration Lanuary 21, 2029 Poonary & 2009 For payment on $) At the date of DECLARATION what is the impact on the ASSET section ONLY of the balance sheet INCREASE simply type in the amount ES DECREASE type in the amount with a minus sign in front such as -100 w the answer is no impact type in the number zero "O 7) At the date of DECLARATION what is the impact on the LIABILITY section ONLY of the balance sheet It is an INCREASE simply type in the amount if it is a DECREASE type in the amount with a minus sign in front such as - 100 if the answer is no impact type in the number zero "0" 8) At the date of DECLARATION what is the impact on the STOCKHOLDER'S EQUITY section ONLY of the balance sheet if it is an INCREASE simply type in the amount if it is a DECREASE type in the amount with a minus sign in front such as -100 If the answer is no impact type in the number zero "O". 9.) At the date of PAYMENT what is the impact on the ASSET section ONLY of the balance sheet If it is an INCREASE simply type in the amount If it is a DECREASE type in the amount with a minus sign in front such as -100. If the answer is no impact type in the number zero "0" 10.) At the date of PAYMENT what is the impact on the STOCKHOLDER'S EQUITY section ONLY of the If it is an INCREASE simply type in the amount. If it is a DECREASE type in the amount with a minus sign in front such as -100. If the answer is no impact type in the number zero "0