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The question is attached that is giving me problems. Problem 11-1A (Part Level Submission) Tidwell Corporation was organized on January 1, 2014. It is authorized
The question is attached that is giving me problems.
Problem 11-1A (Part Level Submission) Tidwell Corporation was organized on January 1, 2014. It is authorized to issue 22,900 shares of 6%, $53 par value preferred stock and 476,200 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 May 1 Sept. 1 Nov. 1 Issued Issued Issued Issued Issued 73,200 shares of common stock for cash at $5 per share. 12,100 shares of preferred stock for cash at $57 per share. 128,600 shares of common stock for cash at $8 per share. 5,800 shares of common stock for cash at $9 per share. 4,500 shares of preferred stock for cash at $55 per share. (a) Your answer is correct. Journalize the transactions. (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 J an. 10 Account Titles and Explanation Debit Cash Credit Click if you would like to Show 366000 SHOW LIST OF ACCOUNTS Com on Stock m 146400 SHOW ANSWER Paid-in Capital in E 219600 LINK TO TEXT Mar. 1 Cash LINK TO TEXT Preferred Stock SHOW SOLUTION 689700 Paid-in Capital in E May 1 641300 Attempts: 1 of 3 used Cash 48400 1028800 Com on Stock m (b) 257200 Paid-in Capital in E 771600 Post to 1 Sept. the stockholders' equity accounts. (Post entries in the order of journal entries Cash 52200 posted in the previous part.) Com on Stock m 11600 Paid-in Capital in E 40600 Preferred Stock Nov. 1 Cash 247500 Preferred Stock 238500 Paid-in Capital in E 9000 Paid-in Capital in Excess of Par ValuePreferred Stock Common Stock Paid-in Capital in Excess of Stated ValueCommon StockStep by Step Solution
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