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ACC 291 WEEK 4 INDIVIDUAL ASSIGNMENT – EXERCISES

<br>Visit Below Link, To Download This Course:<br>https://www.tutorialsservice.net/product/acc-291-week-4-individual-assignment-exercises/<br><br>Or <br>Email us on<br>SUPPORT@TUTORIALSSERVICE.NET<br><br>ACC 291 WEEK 4 INDIVIDUAL ASSIGNMENT – EXERCISES<br>Complete Problem 11-6A.<br>E11-15<br> Before Action After Stock Dividend After Stock Split<br>Stockholders’ equity <br> Paid-in capital <br> Common stock $600,000 $630,000 $600,000<br> In excess of par value 0 3,000 x ($14-$10)=<br>12,000 0<br> <br> Total paid-in capital 600,000 642,000 600,000<br> Retained earnings 900,000 $900,000-(3,000 x $14)<br>858,000 900,000<br> <br> Total stockholders’<br>equity 1,500,000$ $1,500,000 $1,500,000<br>Outstanding shares 60,000 63,000 120,000<br>Book value per share $25.00 $23.81 $12.50<br>

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ACC 291 WEEK 4 INDIVIDUAL ASSIGNMENT – EXERCISES

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  1. 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/ Or 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. (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. Download Now

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