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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

Help

Martin

Answer
Submitted by Martin on Sat, 2013-02-23 04:20
teacher rated 53 times
4.37736
purchased 6 times
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Arnold Corporation Stockholder's Equity Section

body preview (15 words)

xxxx solution is xx attachment.Please xxxx free to message xx xxx xxx questions,thanks

file1.xlsx preview (105 words)

Sheet1

xxxxxxxxxxxxxxxxx
xxx xxxxxxx xxx xxxxxxxxxxxxx xxxxxx xxxxxxx xx December 31, 2011.
xxxxxx CORPORATION
xxxxxxxxxxxx’ equity
xxxxxxxx xxx 2011
Paid-in capital
xxxxxxx stock
xx preferred stock,$100 par value, xxxxxxxxxxxxxxxxxxxxx shares xxxxxxxxxxx 2400 xxxxxx issued xxx xxxxxxxxxxx
$240,000
xxxxxx stock, no par, $5 stated xxxxxxxxxxxxxxx shares xxxxxxxxxxx 400,000 shares xxxxxx xxx xxxxxxx xxxxxx outstanding
2,000,000
xxxxx xxxxxxx xxxxxxxxxxxxxxx
Additional paid-in xxxxxxx
xx excess of par value - preferred xxxxx xxxxxx
In excess of xxxxxx xxxxx - Common stock xxxxxxxxx
From Treasury stock x xxxxxx 3,000
xxxxx additional paid-in capitalxxxxxxxxx
xxxxx xxxx xx xxxxxxx xxxxxxxxx
Retained xxxxxxxx xxxxxxx
xxxxx paid-in capital xxx retained earnings 8,559,000
Less: xxxxxxxx xxxxx (1000 xxxxxx xxxxxxxxxxxx
Total stockholders’ xxxxxx$8,537,000

xxxxxx

Sheet3

file2.docx preview (289 words)

xx
x
x

xxxxxxxx x

Arnold xxxxxxxxxxx xxx been authorized xx xxxxx 40,000 shares of xxxx xxx value, xxx noncumulative xxxxxxxxx xxxxx and 2,000,000 shares xx no-par xxxxxx stock. xxx xxxxxxxxxxx assigned x xx xxxxxx xxxxx xx xxx common stock. xx December xxx 2011, the ledger contained xxx following balances pertaining to xxxxxxxxxxxxx equity.

xxxxxxxx

Preferred Stock

xxxxxxxx

Paid-in Capital in xxxxxx of xxx xxxxxxxxxxxxxxx

56,000

Common Stock

xxxxxxxxx

Paid-in xxxxxxx in xxxxxx xx Stated xxxxxxxxxxxx

xxxxxxxxx

xxxxxxxx Stock-Common (1,000 xxxxxxx

xxxxxx

xxxxxxx Capital xxxx xxxxxxxx Stock

xxxxx

Retained xxxxxxxx

560,000

The preferred xxxxx was xxxxxx for xxxx having a xxxx market xxxxx of $296,000. All common xxxxx issued was xxx cash. In xxxxxxxxx 1,500 shares of common stock xxxx purchased xxx the treasury xx a per xxxxx cost xx xxxx xx xxxxxxxxx xxx shares xx treasury xxxxx xxxx sold for $28 per share. xx dividends xxxx declared xx 2011.

x

x

x
x

Prepare xxx journal xxxxxxx xxx the: (For multiple xxxxxxxxxxxx xxxxxxxx xxxx xxxxxxx xxxx xxxxxxx to xxxxxxxx xxxx 10, xx xx xxx

xxxxxxxx of preferred xxxxx for xxxxx

Issuance of xxxxxx xxxxx xxx xxxxx

xxxxxxxx of common treasury xxxxx xxx xxxxx

Sale xx xxxxxxxx stock xxx

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Answer
Submitted by Martin on Fri, 2013-02-22 22:20
teacher rated 53 times
4.37736
purchased 3 times
price: $3.00

Answer rating (rated one time)

5

ACC 291 Week 4 Wiley P11-6A Arnold Corporation

body preview (19 words)

Your answer xx in attachment.Please xxxxxxx xx for xxx xxxxxxx xxx don't forget to rate this tutorial,thanks

file1.docx preview (297 words)

x
x

xxxxxxxx x

Arnold Corporation has xxxx authorized xx issue xxxxxx xxxxxx of $100 par xxxxxx xxx noncumulative xxxxxxxxx xxxxx xxx xxxxxxxxx xxxxxx of no-par xxxxxx stock. xxx xxxxxxxxxxx xxxxxxxx x $5 xxxxxx xxxxx to xxx xxxxxx stock. xx xxxxxxxx xxx xxxxx xxx ledger contained xxx xxxxxxxxx xxxxxxxx xxxxxxxxxx xx xxxxxxxxxxxxx xxxxxxx

x
xxxxxxx

Preferred xxxxx

xxxxxxxx

Paid-in Capital in xxxxxx xx xxx Value-Preferred

xxxxxx

Common Stock

2,000,000

Paid-in Capital in Excess of Stated xxxxxxxxxxxx

xxxxxxxxx

Treasury Stock-Common xxxxxx xxxxxxx

22,000

xxxxxxx Capital xxxx Treasury Stock

xxxxx

Retained xxxxxxxx

560,000

The xxxxxxxxx stock was issued for land having a fair market value xx $296,000. All xxxxxx xxxxx issued xxx xxx xxxxx xx November, 1,500 xxxxxx xx common xxxxx xxxx xxxxxxxxx for xxx treasury xx x per share cost xx $22. In xxxxxxxxx xxx shares of xxxxxxxx xxxxx were sold xxx xxx xxx share. xx dividends were declared in 2011.

x

x
xxx

Prepare the journal xxxxxxx xxx the: (For xxxxxxxx debit/credit xxxxxxxx list amounts from xxxxxxx to smallest e.g. xxx xx 3, xxx

xxxxxxxx xx preferred stock for land.

xxxxxxxx of common stock xxx xxxxx

xxxxxxxx of common xxxxxxxx xxxxx xxx cash.

Sale of treasury xxxxx xxx

- - - more text follows - - -

file2.xlsx preview (109 words)

xxxxxx

xxxxxxxxxxxxxxxxxx
(b) xxxxxxx the stockholders' equity xxxxxxx at December xxx 2011.
xxxxxx CORPORATION
Stockholders’ xxxxxx
December xxx 2011
Paid-in capital
xxxxxxx xxxxx
xx preferred xxxxxxxxxx xxx value, non-cumulative,40,000 xxxxxx xxxxxxxxxxx 2400 xxxxxx xxxxxx xxx outstanding
xxxxxxxx
xxxxxx xxxxxx xx xxxx $5 xxxxxx xxxxxxxxxxxxxxx xxxxxx xxxxxxxxxxx xxxxxxx xxxxxx issued and 399,000 xxxxxx outstanding
xxxxxxxxx
xxxxx xxxxxxx xxxxx $2,240,000
xxxxxxxxxx paid-in capital
In excess of xxx value x preferred xxxxx xxxxxx
In xxxxxx xx xxxxxx value x xxxxxx xxxxx xxxxxxxxx
xxxx xxxxxxxx xxxxx - xxxxxx3,000
Total additional paid-in xxxxxxx 5,759,000
Total xxxx xx capital 7,999,000
Retained xxxxxxxx xxxxxxx
Total xxxxxxx xxxxxxx xxx xxxxxxxx earningsxxxxxxxxx
xxxxx xxxxxxxx xxxxx xxxxx xxxxxx xxxxxx xxxxxx
xxxxx stockholders’ xxxxxx$8,537,000

Sheet2

xxxxxx


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