User Account

All Pages

Post to the stockholders equity account

Assignment Help Accounting Basics
Reference no: EM132095336

Question - Tidwell Corporation was organized on January 1, 2014. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year.

Jan. 10 Issued 70,000 shares of common stock for cash at $4 per share.

Mar. 1 Issued 12,000 shares of preferred stock for cash at $53 per share.

May 1 Issued 120,000 shares of common stock for cash at $6 per share.

Sept. 1 Issued 5,000 shares of common stock for cash at $5 per share.

Nov. 1 Issued 3,000 shares of preferred stock for cash at $56 per share.

(a) Post to the stockholders equity account (use T account)?

(b) Prepare the paid-in capital portion of the stockholders equity section at Dec 31, 2014?

Reference no: EM132095336

Questions Cloud

Compute the amount of retained earnings : Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31
Compute the revised annual depreciation : The depreciation resulted from using the straight-line method with a useful life of 10 year. Compute the revised annual depreciation
How much income is each beneficiary entitled to receive : The NRBE Trust is a simple trust that correctly uses the calendar year for tax purposes. How much income is each beneficiary entitled to receive
What policies might you develop and implement as hrm : The Abreu article you were asked to read this week presents a list of benefits for an organization in developing a culturally diverse workforce.
Post to the stockholders equity account : Tidwell Corporation was organized on January 1, 2014. Prepare the paid-in capital portion of the stockholders equity section at Dec 31, 2014
Prepare the entry to record january payroll tax expense : In January, gross earnings in Gyro Company totaled $70,000. Prepare the entry to record January payroll tax expense
Explain why an on-boarding process needs to be created : Explain why an on-boarding process needs to be created. Then create an outline of an on-boarding process. Include a brief explanation of each step.
Calculate algerian delivery basic earnings per share : On January 1, 2013, Algerian Delivery had 100,000 shares of common stock outstanding. Calculate Algerian Delivery's basic earnings per share
Explore types of principal-agency relationships : Explore types of principal-agency relationships and determine what type of relationship exists in this case between the driver, Jose Carcamo, and the company.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the difference in price between what you can afford

what is the difference in price between what you can afford to buy with a 4% interest rate and a 6% interest rate

  Sale of property received as a gift during the current year

sale of property received as a gift. during the current year stan sells a tract of land for 800000. the property was

  Define the term financial leverage

Define the term financial leverage. Does the firm use financial leverage if preferred stock is present in the capital structure?

  What is the number of juices per day

Yummy Juices is a juice shop located in downtown Miami. What is the number of juices per day that must be sold to achieve break even

  Prepare contribution format segmented income statements for

Prepare contribution format segmented income statements for the total company broken down between sales territories. 1b. Prepare contribution format segmented income statements for the Northern Territory broken down by product line.

  A firm operated at 80 of capacity for the past year during

a firm operated at 80 of capacity for the past year during which fixed costs were 210000 variable costs were 65 of

  Prepare journal entries in the records of chifley ltd to

on 1 july 2009 chifley ltd acquired 2 assets within the same class of plant amp equipment. information on these assets

  A firm of manufactures whose books are closed on 31st

a firm of manufactures whose books are closed on 31st december purchased machinery for rs. 50 000 on 15 january

  Make the entry to record the partial refunding

Make the entry to record the partial refunding. Assume Latty Co. makes reversing entries when appropriate

  Users of financial statements rely on the information

users of financial statements rely on the information available to them to decide whether to invest in a company or

  How many units of product a must be produced

On November 1, Barnes Corporation has 9,950 units of Product A on hand. How many units of Product A must be produced during the month

  Difference between gross revenues and net revenues

Identify one of the two key principals used in accrual accounting and state an advantage and disadvantage?  What is the difference between gross revenues and net revenues? What is the difference between patient service revenue and other revenue

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd