Question
POSTING QUESTION INVOLVING : Journalizing issuance of stock and preparing the stockholders equity section of the balance sheet Known History: As of March 23-Common Stock
POSTING QUESTION INVOLVING : Journalizing issuance of stock and preparing the stockholders equity section of the balance sheet
Known History: As of March 23-Common Stock $690
The Charter of Trugreen Corporation authorizes the issuance of 900 shares of preferred stock and 1,400 shares of common stock. During a two-month period Trugreen completed these stock-issuance transactions:
Mar 23 Issued 230 shares of $3 par value common stock for cash of $15 per share.
April 12 Received inventory with a market value of $27,000 and equipment with a market value of $19,000 for 320 shares of the $3 par value common stock.
April 17 Issued 900 shares of 5%, $20 par value preferred stock for $20 per share.
Required to figure out two things
Record the transactions in the general journal by Date, Accounts and Explanations, Debits, and credits
Prepare the stockholders equity section of the Trugreen balance sheet as of April 30, 2018, for the transactions in this exercise Retained Earnings has a balance of $73,000 at April 30th.
Balance Sheet Partial (NOT SURE IF THE DATE, NAME, OR $ AMOUNT SHOULD BE ABOVE THIS)
then Stockholder's equity (AGAIN NOT SURE WHAT SHOULD BE ABOVE THIS)
Paid In Capital: Preferred Stock , 5% , $20 par value ; 900 shares authorized, issued and outstanding= AMOUNT?
Common stock --$3 Par Value ; 1,400 shares authorized, 550 shares issued and outstanding = AMOUNT?
Paid-in captial in Excess of par-Common=AMOUNT?
total paid in capital=AMOUNT?
Retained Earnings=AMOUNT?
Total stockholders Equity=AMOUNT?
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