Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

uestion 3. Easy Pickings Corporation 2019. Make journal entries for: a. March 1st Issued 15,200 shares of common stock to an attorney's firm for services

image text in transcribed
uestion 3. Easy Pickings Corporation 2019. Make journal entries for: a. March 1st Issued 15,200 shares of common stock to an attorney's firm for services rendered. The par value of stock was $ 19 and the stock was trading at $ 22 per stock. b. March 5th issued 60,000 shares of common stock for $25 each, par value $ 19. c. On March 30th board of directors declared a 8% stock dividend on 120,000 shares of common stock outstanding, par value of stock $ 19. At the time the stock was trading at $ 27 per share. d. April 25th issued the stock dividends declared on March 30h, 2019. e. May 20th Company issued 3000 shares of common stock for building. Par value of stock $ 19. The asking price for land was $81,000 and the FMV of building was $ 64,000. Question 4. (All information pertains to ABC Corporation for 2018 and 2019). Make journal entries for the following: January 1st, 2018 purchased 3800 shares of Xerox Corporation common stock for $20 per share. January 1st. 2018 purchased 200, $1000, 8% bonds from Burger King Corporation for $ 212,000. Interest is received semi-annually on July 1st and January 1st. May 5th, 2018 received a cash dividend of $1.50 per share from Xerox Corporation. December 31, 2018 accrue interest on Burger King Corporation Bonds Jan1, 2019 received interest from Burger King Corporation Bonds. Sept. 16, 2019 sold 1600shares of Xerox Corporation for $ 17 per share. $218,000 Dec. 31, 2019 sold the 200 Burger King Corporation bonds.for

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

Global Financial Accounting And Reporting Principles And Analysis

Authors: Peter J. Walton, Walter Aerts

3rd Edition

1408062860, 9781408062869

More Books

Students also viewed these Accounting questions

Question

=+how might their legitimacy be improved?

Answered: 1 week ago