Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This is all a one question thing with the info in the first picture. ssignment NEXT PRINTER VERSTON FULL SCREEN BACK CES Problem 13-1A Delong

This is all a one question thing with the info in the first picture.
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
ssignment NEXT PRINTER VERSTON FULL SCREEN BACK CES Problem 13-1A Delong Corporation was organized on January 1, 2017. It is authorized to issue 15,000 shares of 8%, $100 par value preferred stock, and 549,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year Jan. 10 1ssued 75,500 shares of common stock for cash at $6 per share. Mar. 1 1ssued 5,950 shares of preferred stock for cash at $110 per share Apr. 1 Issued 24,500 shares of common stock for land. The asking price of the land was $93,000. The fair value of the land was $83,000. May 1 Issued 80,000 shares of common stock for cash at $4.25 per share, Aug. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill of $45,000 for services performed in helping the company organize. Sept. 1 Issued 10,500 shares of common stock for cash at $7 per share. dy Nov 1 Issued 2,500 shares of preferred stock for cash at $114 per share. Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. D not indent manually.) Debit Date Account Titles and Explanation Credit 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.) Account Titles and Explanation Debit Credit Date LINK TO TEKT LINK TO TEXT VIDEO SIMILARRLE URCES ork Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Debit Date Explanation Ref. Credit Balance Study 5 35 Common Stock Explanation Ref. Balance Date Debit Credit 15 35 35 Pald-In Capital In Excess of Par-Preferred Stock Credit Balance Date Explanation Ref. Debit Paid-in Capital in Excess of Par-Preferred Stock Explanation Ref. Date Debit Credit Balance 35 15 Paid-in Capital in Excess of Stated Value-Common Stock Explanation Ref. Balancer Date Debit Credit 15 35 15 35 VIDEOSIMILAR PROBLEM LINK TO TEXY LINK TO TEXY Link 1 Prenare the paid-in capital section of stockholders' equity at December 31, 2017. (Enter the account name only and do not provide the descriptive information provided in the Prepare the paid-in capital section of stockholders' equity at December 31, 2017. (Enter the account name only and do not provide the descriptive information provided in the question.) DELONG CORPORATION Balance Sheet (Partial) Open Show Work Uke to Show Work for this

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Complete Guide To Operational Auditing

Authors: Harry R. Reider

1st Edition

0471594199, 978-0471594192

More Books

Students also viewed these Accounting questions