Solution-Prepare the stockholders equity section of the

Prepare the stockholders equity section of the balance sheet

Assignment Help Accounting Basics

Reference no: EM13917751

Goldman Inc. was organized on June 1, 2013. It was authorized to issue 500,000 shares of $10 par common stock and 100,000 shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $50 per share. The following stock transactions pertain to Goldman Inc.:

1. Issued 40,000 shares of common stock for $16 per share.

2. Issued 20,000 shares of the class A preferred stock for $52 per share.

3. Issued 60,000 shares of common stock for $20 per share.

Required:

a. Prepare general journal entries for these transactions.

b. Prepare the stockholders equity section of the balance sheet immediately after these transactions.

Reference no: EM13917751

Questions Cloud

How does price of these bonds today compare to issue prices : One year ago, Alpha Supply issued 15-year bonds at par. The bonds have a coupon rate of 6.5 percent and pay interest annually. Today, the market rate of interest on these bonds is 7.2 percent. How does the price of these bonds today compare to the is..

Aggregate demand and aggregate supply model : According to the aggregate demand and aggregate supply model, in the long run an increase in the money supply leads to

Face value bonds-what is the yield to maturity : The $1,000 face value bonds of Jasper International have a 7.5 percent coupon and pay interest annually. Currently, the bonds are quoted at 98.27 and mature in 3.5 years. What is the yield to maturity?

Ethical issues multinational corporations : Examine two (2) of the major HR ethical issues multinational corporations face when operating globally. Recommend two (2) preventative actions that HR departments can take in order to lessen the occurrence of these ethical issues. Provide a ration..

Prepare the stockholders equity section of the balance sheet : The class A stock had a stated value of $50 per share. The following stock transactions pertain to Goldman Inc.:

Research to develop a new computer game : KADS, Inc., has spent $470,000 on research to develop a new computer game. The firm is planning to spend $270,000 on a machine to produce the new game. Shipping and installation costs of the machine will be capitalized and depreciated; they total $57..

Success of multicultural teamwork : How are they different in each country? Specifically, what considerations will be necessary to facilitate collaboration across these cultures? Identify supervisory skills appropriate to respond to your considerations. Can you have a U.S. managemen..

Discuss issue of a nonprofit organization having a conflict : Discuss the issue of a nonprofit organization having a conflict of interest. How might a conflict of interest be present in each of the organizational roles: CEO, Board, and stakeholders?

A project that provides annual cash flows : A project that provides annual cash flows of $10857 for eight years costs $76853 today. At what discount rate would you be indifferent between accepting the project and rejecting it?

User Account

All Pages

Prepare the stockholders equity section of the balance sheet

Reference no: EM13917751

Reference no: EM13917751

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT