questions E13.3, E13.4, E13.5, E13.7

3 26 CHAPTER Cop n Opaniaton d Caplal Stork fransecun Ci k cin ie p oe ofaco ite o war aer e apprial f eiler tal c miy her o wf a coporation fy ufrin lenid Cxpn are sah to nd n o n p hips e pila Instructions inlate lss et e s al k iy ntsmi (L0 Aude ( Rs al le gw er in that esencise nd le Corpan o th a sofs dis e of a o o c d eip r a pe n mlas, andainal es e te vww.a vaasf r csd as an st c . saklelrhe wip g r Hosk are in coponte smings kerp ite sane peage ep n i ls oaier thor opl to the ber of auloried shars The mnterofisnd o j ry is regired k ile atiea The ira Ang of ouial sak ona srtes oscungr inales the iranser ot nirealy iand shwe value atin tothe corpntn by sockl he an pra in eschage for capial stock Instructions Identify eech MeH ue r false If alse, iilicate hw koe the statemeni Jouaeboe otasoe of ossss E133 (0 ) EDuring its fe yer of operatios, yle Coponcke hal the folkoning i lisining to is comn stock ctis p Instractions e the trnstim sming thatthe comonh stock has a par valoe of 5 per shum nalize the iramkns, muing that the commo shock is o par with a sated vabar of51p sbuce Jourmde anr of EI34 (L0 2) 0hage Corpocaion lsssed 200 res of ok Instructions he stock had a ne r dhe olwing msumpions we snd was issaed for a soal of $52,000 he stock had a stated value of 53 per wed for a total of 552000, he stock had no pae or saed vale and wsund for al of 552,00 5 per hre md ws isssed to ruion valued ai 51.a he sok had a par value of 55 per shee nd wis isaed Sr land wceth $52.000 fneys for services during insor eatioe ELAS Exercsen (L0 2) Quin Co had the ollowine transactions during the currens period Mar 0c stares of 55 par u n piyment of a hill for June aly 1 of mesary sock 000 shares of Purchased 2.000 valne nreferred stock for cash at $1 10 per shane u n heiping the commu 1 of $375,000 25 Ftreasury stock fe Sa0. 2ips structions toem the trasactions E13.6 (LO 2) As an anditoe for the CPA firm of Hinkson and Cabvent, vo encouncr the followig si differem clieres, me 1, LRCorporatio Aoncos commot i whose stock is not publicty traded coporation acquired land b 2 Vera Cornoss nd was S120,000 and the 0par value cemmon ock T e 1 CJae 1, it aood aon whone come change, the land was advertised for ale r 5350 000 T0 par value stock At de kwas selling at 511 per shate Instructions Prepare the journal entries for cach of the situarions above. E137 (L0 2) On January 1, 2020, the stockhobders 51.200,000 Durine the S0o0 paid-in capital in excess ofn wlin Corpotatioo shows com following treasury stock transactions ocoured foarnaice tearary aseck and retained earnings marroctios Mar 1 Purchiesed 50,000 Sold 10,000 treasury shares frco per shane d 8.000 treasury shares for cash at $14 per shane Instructions a. Journalize the treasury stock transactions b. Restate the entry foe September 1, assuming e treasury shares were soll at $12 per share issued stock fo $255 000 a Irom its stockholders 5,000 shures of its coun aru per share, and finally L000 shares for $43 per share E13.8 (LO 2) rary ituck s for $54 per share, then 2.000 more shares foe $49 Instructions Prepare journal entries for the purchase of the treasury stock and the three sales off treasury stock Financial Statement Tran Corporation is authorized to issue both s e prjered stock ssDuring to its preferred stock e first year of operations, the company had the following events and tra statewent presemanon Issued 20,000 shares for cash a Issued 12.000 shares Feb. 1 rcash at $57 ner th July 1 Instructions a. Journalize the transactions b. Post to the stockholders' cquity accounts c. Indicate the financial statement presentation of the related accounts, his t partnerships. Because of the pressure of the new job, the accountant was unable to review . During the first month, the accountant made the entries fo E13.10 (LO 2) Gilliam Corporation recently hired a new accountant with extensive e tock trosetio following entries for the corporation's capital stock