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Question
Submitted by mrharrison on Fri, 2013-02-22 22:03
due on Tue, 2013-02-26 22:02
answered 2 time(s)
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Week 4 Wiley P11-6A Arnold Corporation

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Martin

Answer
Submitted by Martin on Sat, 2013-02-23 04:20
teacher rated 58 times
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Arnold Corporation Stockholder's Equity Section

body preview (15 words)

xxxx solution is in xxxxxxxxxxxxxxxxx feel xxxx to message xx for xxx xxxxxxxxxxxxxxxx

file1.xlsx preview (97 words)

Sheet1

xxxxxxxxxxxxxxxxx
xxx Prepare xxx stockholders' xxxxxx xxxxxxx at xxxxxxxx 31, xxxxx
xxxxxx xxxxxxxxxxx
xxxxxxxxxxxx’ xxxxxx
December xxx xxxx
Paid-in xxxxxxx
xxxxxxx stock
8% preferred xxxxxxxxxx par xxxxxx xxxxxxxxxxxxxxxxxxxxx shares authorized, 2400 xxxxxx issued and outstanding
$240,000
Common stock, xx xxxx xx xxxxxx xxxxxxxxxxxxxxx shares authorized, 400,000 shares issued xxx xxxxxxx shares outstanding
xxxxxxxxx
xxxxx xxxxxxx xxxxx$2,240,000
xxxxxxxxxx paid-in capital
xx xxxxxx xx xxx xxxxx x preferred Stockxxxxxx
xx xxxxxx xx xxxxxx xxxxx x Common stockxxxxxxxxx
From xxxxxxxx xxxxx x commonxxxxx
Total additional paid-in xxxxxxxxxxxxxxxx
Total Paid in xxxxxxxxxxxxxxxx
Retained xxxxxxxx 560,000
xxxxx xxxxxxx capital xxx retained earnings xxxxxxxxx
xxxxx xxxxxxxx xxxxx xxxxx xxxxxx xxxxxxxxxxxx
Total xxxxxxxxxxxx’ xxxxxx xxxxxxxxxx

Sheet2

xxxxxx

file2.docx preview (216 words)

x
x

Question 4

Arnold xxxxxxxxxxx xxx xxxx xxxxxxxxxx to xxxxx 40,000 shares of xxxx xxx value, 8%, xxxxxxxxxxxxx preferred xxxxx xxx 2,000,000 shares xx xxxxxx common xxxxxx The xxxxxxxxxxx assigned a $5 xxxxxx value xx the common stock. At December 31, 2011, xxx xxxxxx contained the following balances pertaining to stockholders' xxxxxxx

xxxxxxx

Preferred Stock

$240,000

Paid-in xxxxxxx xx xxxxxx of Par Value-Preferred

xxxxxx

Common Stock

2,000,000

Paid-in xxxxxxx in Excess xx Stated Value-Common

xxxxxxxxx

Treasury Stock-Common (1,000 shares)

xxxxxx

Paid-in xxxxxxx from Treasury xxxxx

3,000

xxxxxxxx Earnings

xxxxxxx

xxx preferred stock was issued for land having a fair market value xx $296,000. All xxxxxx stock issued was for xxxxx xx xxxxxxxxx xxxxx xxxxxx xx common stock were xxxxxxxxx for the xxxxxxxx at a xxx share xxxx of xxxx In December, xxx xxxxxx xx treasury xxxxx xxxx sold for xxx xxx xxxxxx xx xxxxxxxxx were xxxxxxxx xx xxxxx

x

x

xxxx

Prepare xxx journal xxxxxxx xxx xxxx xxxx multiple xxxxxxxxxxxx xxxxxxxx list xxxxxxx from xxxxxxx to xxxxxxxx e.g. 10, xx 3, 2.)

xxxxxxxx of preferred stock xxx land.

xxxxxxxx xx common stock xxx cash.

xxxxxxxx xx xxxxxx treasury stock xxx cash.

xxxx of xxxxxxxx stock xxx

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Answer
Submitted by Martin on Fri, 2013-02-22 22:20
teacher rated 58 times
4.36207
purchased 3 times
price: $3.00

Answer rating (rated one time)

5

ACC 291 Week 4 Wiley P11-6A Arnold Corporation

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Your answer is in xxxxxxxxxxxxxxxxx xxxxxxx xx for xxx queries xxx xxxxx forget to rate this xxxxxxxxxxxxxxx

file1.docx preview (216 words)

x
xx

Question x

xxxxxx xxxxxxxxxxx has been xxxxxxxxxx xx xxxxx xxxxxx xxxxxx of $100 par xxxxxx xxx xxxxxxxxxxxxx xxxxxxxxx xxxxx and xxxxxxxxx shares xx xxxxxx common stock. xxx xxxxxxxxxxx xxxxxxxx x xx stated value xx the xxxxxx xxxxxx xx December xxx xxxxx the ledger xxxxxxxxx the following balances pertaining to stockholders' xxxxxxx

x
xxxxxx

Preferred xxxxx

xxxxxxxx

xxxxxxx Capital in xxxxxx xx Par Value-Preferred

56,000

xxxxxx xxxxx

xxxxxxxxx

Paid-in xxxxxxx xx xxxxxx of Stated xxxxxxxxxxxx

xxxxxxxxx

Treasury xxxxxxxxxxxx xxxxxx shares)

22,000

xxxxxxx Capital from Treasury xxxxx

3,000

Retained Earnings

xxxxxxx

The preferred xxxxx xxx issued for xxxx having a xxxx market value of $296,000. xxx xxxxxx stock issued was for xxxxx xx November, 1,500 xxxxxx xx common xxxxx were purchased for the treasury at x xxx xxxxx cost xx xxxx In December, 500 xxxxxx of xxxxxxxx stock xxxx sold xxx xxx xxx xxxxxx No dividends were xxxxxxxx xx 2011.

x

x

xx

x
x
xx

xxxxxxx the xxxxxxx entries for xxxx xxxx multiple xxxxxxxxxxxx entries, xxxx amounts xxxx xxxxxxx xx smallest e.g. 10, 5, 3, xxx

Issuance of preferred stock for xxxxx

xxxxxxxx of xxxxxx stock xxx cash.

xxxxxxxx of xxxxxx xxxxxxxx xxxxx xxx cash.

Sale of xxxxxxxx stock for

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file2.xlsx preview (97 words)

Sheet1

xxxxxxxxxxxx
xxx Prepare xxx xxxxxxxxxxxxx xxxxxx xxxxxxx at December xxx 2011.
xxxxxx CORPORATION
xxxxxxxxxxxx’ equity
xxxxxxxx 31, xxxx
Paid-in xxxxxxx
Capital stock
xx preferred stock,$100 xxx xxxxxx xxxxxxxxxxxxxxxxxxxxx xxxxxx xxxxxxxxxxx xxxx shares xxxxxx xxx outstanding
xxxxxxxx
xxxxxx xxxxxx xx xxxx xx xxxxxx value,2,000,000 xxxxxx xxxxxxxxxxx 400,000 shares xxxxxx xxx xxxxxxx xxxxxx outstanding
2,000,000
xxxxx capital xxxxx xxxxxxxxxx
Additional xxxxxxx capital
In excess xx xxx xxxxx x xxxxxxxxx xxxxx 56,000
In xxxxxx xx stated value x xxxxxx stockxxxxxxxxx
From Treasury stock x xxxxxx 3,000
xxxxx additional paid-in xxxxxxx 5,759,000
Total xxxx in xxxxxxx xxxxxxxxx
Retained earnings560,000
Total paid-in capital xxx retained xxxxxxxx xxxxxxxxx
Less: xxxxxxxx xxxxx xxxxx common share) xxxxxx
xxxxx xxxxxxxxxxxx’ xxxxxx $8,537,000

xxxxxx

Sheet3


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