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This Tutorial contains Excel Files which can be used to solve for any
values (your Question may have different company name or values,
but that can be solved using Excel file)
E10-19A
Army Navy Sporting Goods is authorized to issue 10,000 shares of
common stock. During a two-month period, Army Navy completed
these stock-issuance transactions:
Apr 23 Issued 3,000 shares of $1.00 par common stock for cash of
$13.00 per share.
May 12 Received inventory with a market value of $20,000 and
equipment with market
value of $39,000 for 3,600 shares of the $1.00 par common
stock.Requirements
1. Journalize the transactions.
2. Prepare the stockholders' equity section of
Army Navy Sporting Goods' balance sheet for the transactions given in
this exercise. Retained Earnings has a balance of
$45,000.
E10-25A (similar to) Question Help
Ontario Manufacturing, Inc., reported the following at December 31,
2014 and December 31, 2015:
Stockholders' Equity
Preferred stock, cumulative, $1.00 par, 12%, 45,000 shares issued