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 $ 45,000
Common stock , $ 0.60 par , 9,070,000 shares issued 5,442,000 Ontario Manufacturing has paid all preferred dividends through 2011 Requirement