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\nVisit Below Link, To Download This Course:\nhttps://www.tutorialsservice.net/product/acc-291-week-4-individual-assignment-exercises/\n\nOr \nEmail us on\nSUPPORT@TUTORIALSSERVICE.NET\n\nACC 291 WEEK 4 INDIVIDUAL ASSIGNMENT – EXERCISES\nComplete Problem 11-6A.\nE11-15\n Before Action After Stock Dividend After Stock Split\nStockholders’ equity \n Paid-in capital \n Common stock $600,000 $630,000 $600,000\n In excess of par value 0 3,000 x ($14-$10)=\n12,000 0\n \n Total paid-in capital 600,000 642,000 600,000\n Retained earnings 900,000 $900,000-(3,000 x $14)\n858,000 900,000\n \n Total stockholders’\nequity 1,500,000$ $1,500,000 $1,500,000\nOutstanding shares 60,000 63,000 120,000\nBook value per share $25.00 $23.81 $12.50\n

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acc 291 week 4 individual assignment exercises

ACC 291 WEEK 4 INDIVIDUAL ASSIGNMENT – EXERCISES

Visit Below Link, To Download This Course:

https://www.tutorialsservice.net/product/acc-291-week-4-individual-assignment-exercises/

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Email us on

SUPPORT@TUTORIALSSERVICE.NET

ACC 291 WEEK 4 INDIVIDUAL ASSIGNMENT – EXERCISES

Complete Problem 11-6A.

E11-15

Stockholders’ equity

Paid-in capital

Common stock

Before Action

$600,000

After Stock Dividend

$630,000

3,000 x ($14-$10)=

After Stock Split

$600,000

0

0

12,000

In excess of par value

600,000

642,000

$900,000-(3,000 x $14)

600,000

Total paid-in capital

900,000

900,000

858,000

Retained earnings

Total stockholders’

1,500,000$

$1,500,000

$1,500,000

equity

60,000

$25.00

63,000

$23.81

120,000

$12.50

Outstanding shares

Book value per share

P11-6A

(a) Prepare the journal entries for the:

(1) Issuance of preferred stock for land.

Land 296,000

Preferred Stock 240,000 (2,400 x $100)

Paid-in Capital in Excess of Par Value—Preferred 56,000

2 issuance of common stock for cash

(2) Issuance of common stock for cash.

Cash 7,700,000 ($2,000,000 + $5,700,000)

Common Stock2,000,000 (400,000 x $5)

Paid-in Capital in Excess of Stated Value—Common 5,700,000

(3) Purchase of common treasury stock for cash.

Treasury Stock 33,000 (1,500 x $22)

Cash 33,000

(4) Sale of treasury stock for cash.

Cash 14,000 (500 x $28)

Common Treasury Stock 11,000 (500 x $22)

Paid-in Capital from Treasury Stock 3,000 (500 x $6)

(b) Prepare the stockholders’ equity section at December 31, 2011.

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