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only need C!! Riverbed Corporation was organized on January 1, 2022. It is authorized to issue 14,500 shares of 8%, $100 par value preferred stock,
only need C!!
Riverbed Corporation was organized on January 1, 2022. It is authorized to issue 14,500 shares of 8%, $100 par value preferred stock, and 475,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Mar 1 Apr. 1 May 1 Issued 84,500 Xhares of common stock for cash at $4 per share. Issued 4,050 shares of preferred stock for cash at $110 per share. Issued 24,000 shares of common stock for land. The asking price of the land was $88,500. The fair value of the land was $83,500 Issued 83,000 shares of common stock for cash at $5.25 per share. Issued 12,000 shares of common stock to attorneys in payment of their bill of $40,500 for services performed in helping the company organize. Issued 11,500 shares of common stock for cash at $5 per share. Issued 2,500 shares of preferred stock for cash at $111 per share. Aug 1 Sept. 1 Nov. 1 Tay Your answer is correct. Journalize the transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 10 Cash 338000 Common Stock 169000 Paid-in Capital in Excess of Stated Value-Common Stock 169000 Mar. 1 V Cash 445500 Preferred Stock 405000 Pald-in Capital in Excess of Par-Preferred Stock 40500 Apr. 1 Land 83500 Common Stock 48000 Paid-in Capital in Excess of Stated Value Common Stock 3550 May 1 Cash 435750 Common Stock 166000 Paid-in Capital in Excess of Stated Value-Common Stock 269750 Aug. 1 Organization Expense 40500 Common Stock 24000 Paid-in Capital in Excess of Stated Value-Common Stock 16500 Sept. 1 Cash 57500 Common Stock 23000 Paid-in Capital in Excess of Stated Value-Common Stock 34500 Nov. 1 Cash 277500 Preferred Stock 250000 Paid-in Capital in Excess of Par. Preferred Stork (b) Your answer is correct. Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Mar. 1 405000 Nov. 1 250000 Bal. 655000 Common Stock Jan. 10 169000 Apr. 1 V 48000 May 1 166000 Aug. 1 24000 Paid-in Capital in Excess of Par-Preferred Stock Mar. 1 V 40500 Nov. 1 27500 Bal. 68000 Paid-in Capital in Excess of Stated Value-Common Stock Jan. 10 169000 Apr. 1 35500 May 1 269750 Aug. 1 16500 Sept. 1 34500 100 Bal. 525250 (c) Your answer is partially correct. Prepare the paid-in capital section of stockholders' equity at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) RIVERBED CORPORATION Balance Sheet (Partial) December 31, 2022 SA $ - Prepare the paid-in capital section of stockholders' equity at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) RIVERBED CORPORATION Balance Sheet (Partial) December 31, 2022 $ $ $ Step by Step Solution
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