Please show all work. Will tip if I receive an "A" for this test.

STOCKHOLDERS EQUITY TEST - GONZO BREWSKI NAME Gonzo Brewski Inc was chartered in Texas as a micro brewery. The Company was authorized to issue 500,000 shares of $15 par common stock and 10,000 shares of $3 preferred $50 par stock. Record the following transactions in T-Account form on the accompanying worksheet. A) Gonzo issued 25,000 shares of common stock at $24 per share on January 1. B) On March 9, the company repurchased 1,300 of it's shares as treasury stock for $35 per share. C) On March 11, Gonzo issued 10,000 shares of common in exchange for land. The stock was valued at $40 per share. D) In June,Gonzo sold 300 shares of treasury stock for $40 per share. E) On July 15, a 3% stock dividend was declared, to be capitalized at $41 per share. F) On July 31, the stock dividend certificates were issued. G) On August 10,Gonzo issued 3,000 shares of preferred stock at $60 per share. H) Gonzo declared a 50 cent per share cash dividend on common stock and the regular dividend on preferred stock on September 15, I The dividend was paid on October 1. TEST OVER STOCKHOLDERS EQUITY - GONZO BREWSKI NAME TEST OVER STOCKHOLDERS EQUITY - GONZO BREWSKI NAME 0 Stockholders Equity TRIAL BALANCE Paid in Capital Common Stock 0 Preferred Stock 0 PICIEOP - Common Bal 0 PICIEOP - Preferred Bal 0 Donated Capital Bal Bal 0 Bal Paid in Cap from T-Stock Trans Bal 0 Dividends Distributable 0 Retained Earnings Treasury Stock Treasury Stock CASH 0 Cash Dividends Bal Bal 0 Bal Bal Bal Other Accounts Retained Earnings Bal 0 0 Dividends Payable Stock Dividends 0 Bal Bal 0 Land Bal 0 CASH DIVIDENDS PAYABLE COMMON STOCK PD IN CAP IN EXCESS OF PAR-COM PREFERRED STOCK PD IN CAP IN EXCESS OF PAR-Pfd DONATED CAPITAL PD IN CAP FROM T-STK TRANS DIVIDENDS DISTRIBUTABLE RETAINED EARNINGS CASH DIVIDENDS STOCK DIVIDENDS TREASURY STOCK LAND 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Chapter 12 Problems Problem 2: Use the Appendix A tables from your textbook, calculate the cash value of a $1,000,000, 12%, 8 year bond that pays $60,000 ($1,000,000 x 6%) interest semiannually, if the market rate of interest is 11%. Compute the selling price of the bonds: FACE INTEREST TOTAL SELLING PRICE X X = = $0 $0 $0 Problem 3: A $375,000 bond issue on which there is an unamortized discount of $40,000 is redeemed for $320,000. Journalize the redemption of the bonds. Post Date Description Ref Debit Credit Debit Credit Debit Credit Problem 4: On the first day of the fiscal year, Hawthorne Company obtained a $ 88,000, seven-year, 5% installment note from Sea Side Bank. The note requires annual payments of $15,208, with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $4,400 and principal repayment of $10,808. Requirement: (1) Journalize the following entries: a. Issued the installment notes for cash on January 1, 2015. b. Paid the first annual payment on the note. (1) Post Date Description Ref Problem 5: On the first day of the current fiscal year, $2,000,000 of 10-year, 7% bonds, with interest payable annually, were sold for $2,125,000. Present entries to record the following transactions for the current fiscal year: (a) Issuance of the bonds. (b) First semiannual interest payment. (c) Amortization of bond discount for the year, using the straight-line method of amortization. Post Date Description Ref Problem 6: If $1,000,000 of 8% bonds are issued at 105, the amount of cash received from the sale is