Question 1 (3 points) Alpha Company Inc. received a charter granting it the right to issue 500,000 shares of $6 par value common stock and 100,000 shares of $30 par value preferred stock. Record in Alpha's general journal each of the following transactions. You do not have to enter the date or description. Please enter debits or credits in a comma and no decimals format as illustrated here - 170,000 Jan 10th - Issued 80,000 shares of common stock at $10 per share. Account # Account Debit Credit cuestion 2 (3 points) Alpha Company Inc. received a charter granting it the right to issue 500,000 shares of $6 par value common stock and 100,000 shares of $30 par value preferred stock. Record in Alpha's general journal each of the following transactions. Please enter debits or credits in a comma and no decimals format as illustrated here - 170,000 Jan 14th - Issued 10,000 shares of preferred stock in exchange for $400,000 cash. Account # Account Debit Credit Question 3 (3 points) Alpha Company Inc. received a charter granting it the right to issue 500,000 shares of $6 par value common stock and 100,000 shares of $30 par value preferred stock. Record in Alpha's general journal each of the following transactions. Please enter debits or credits in a comma and no decimals format as illustrated here - 170,000 Jan 19th - Exchanged 7,000 shares of common stock for land that was appraised at $75,000. Account # Account Debit Credit Question 4 (2 points) Record Beta's journal entries to record the following selected transactions for Beta Incorporated that were completed during the current fiscal year. On January 1 of the current year, Beta Incorporated had 300,000 shares of $10 par common stock issued and outstanding. On August 12, the Board of Directors declared a 3% stock dividend on the common stock to all shareholders with outstanding stock on August 27th. The stock will be issued on September 11th. The common stock is currently trading at $40 per share. Record the appropriate journal entries for the Date of Declaration, the Date of Record, and the Date of Distribution. Please enter debits or credits in a comma and no decimals format as illustrated here - 170,000 Apr 12th - Date of Declaration Account # Account Debit Credit Apr 27 th - Date of Record Account # Account Account Debit Debit Credit Credit Sept 11 th - Date of Payment Account # Account - Debit Debit Credit Credit Question 5 (5 points) Record Beta's journal entries to record the following selected transactions for Beta Incorporated that were completed during the current fiscal year. On January 1 of the current year, Beta Incorporated had 300,000 shares of $10 par common stock issued and outstanding. On November 1, the Board of Directors declared a two-for-one stock split. Record the appropriate journal entry. Please enter debits or credits in a comma and no decimals format as illustrated here - 170,000 Nov 1st - Stock Split Account # Account Debit Credit 105 201 301 341 342 343 351 Cash Land Accounts Payable Bonds Payable Discount on Bonds Payable Premium on Bonds Payable Cash Dividends Payable Common Stock Distributable Retained Earnings Cash Dividends Declared 532 Stock Dividends Declared 540 Common Stock, $10 par 541 Paid-In-Capital in Excess of Par, Common Stock 550 Preferred 4% Stock, $50 Par 551 Paid-In-Capital in Excess of Par, Preferred Stock 561 Paid-In-Capital from Sale of Treasury Stock, Common 570 Treasury Stock, Common 719 Interest Expense 999 No entry 352 530 531
