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just need help with 2 and 6 and I'm only looking at (part 1, December 1st transaction only) ok and don't worry about what I
just need help with 2 and 6 and I'm only looking at (part 1, December 1st transaction only)
ok and don't worry about what I wrote in the comment area under the pictures. just need you to help me with these 2 problems. I just found out that I didn't need to add that question in.
Requirements 1. Which a dvantage o I incorporating is most applicable? What are other advantages of organizing as a corporate entity 2. What are some disadvantages of organizing as a corporation? ctive 2 S13-2 Journalizing issuance of stock--at par and at a premium Colorado Corporation has two classes of stock: common, $3 par value; and preferrec S30 par value Requirements 1. Journalize Colorado's issuance of 4,500 shares of common stock for $6 per share 2. Journalize Colorado's issuance of 4,500 shares of preferred stock for a total of $135,000 share on July Recond the stock issuancc Objective 2S13-5 Journalizing issuance of stock for assets other than cas Gedar Corporation isued 56,000 shares of SI par valbe c sck isuar stock in exchange for a building with a market valuc of S160,000. Record the stock is e. $13-6 Accounting for the purchase and sale of treasury stock bjective 3 urnitur, Inc completed the following treasury stock transactions in Dec. 1 Purch ased 1,900 shares of the company's $1 par value common stock as treasury stock, paying cash of $5 per share Sold 200 shares of the treasury stock for cash of $8 per share. Sold 1,000 shares of the treasury stock for cash of $1 per share. (Assume 15 20 the balance in Paid-in Capital from Treasury Stock Transactions on December 20 is $2,400.) Requirements 1. Journalize these transactions. Explanations are not required 2 How will Discount Furniture, Inc report treasury stock on its balance sheet as of December 31, 2018 S13-7 Accounting for cash dividends ve 4 Requirements 1. W hich advantage of incorporating is most applicable? What are other advantages of organizing as a corporate entity? What are some disadvantages of organizing as a corporation? 2. S13-2 Journalizing issuance of stock-at par and at a premium Colorado Corporation has two classes of stock: common, $3 par value; and preferred S30 par value. Requirements 1. Journalize Colorado's issuance of 4,500 shares of common stock for S6 per share. 2. Journalize Colorado's issuance of 4,500 shares of preferred stock for a total of S135,000 S13-3 Journalizing issuance of stock-no-par ares of no-parcommon stock for$2Per shareon lanuary 13. Record the stock issuance. S13-5 Journalizing issuance of stock for assets other than cash Cedar Corporation issued 36,000 shares of $1 par value common stock in exchange for a building with a market valuc of $160,000. Record the stock issuance. S13-6 Accounting for the purchase and sale of treasury stock Discount Furniture, Inc. completed the following treasury stock transactions in 2018: Dec. 1 Purchased 1,900 shares of the company's $1 par value common stock as treasury stock, paying cash of $5 per share. Sold 200 shares of the treasury stock for cash of $8 per share 15 Sold 1,000 shares of the treasury stock for cash of $1 per share. (Assume the balance in Paid-In Capital from Treasury Stock Transactions on December 20 is $2,400.) 20 Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? r ended December 31, 3-7 Accounting for cash dividendsStep by Step Solution
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