Business, 30.04.2021 17:50, queengenni
Stockholders' Equity: Transactions and Balance Sheet Presentation Torey Corporation was L04, 8 organized on April 1, with an authorization of 25,000 shares of six percent, $50 par value preferred stock and 200,000 shares of $5 par value common stock. During April, the following transactions affecting stockholders' equity occurred: Apr. 1 Issued 80,000 shares of common stock at $40 cash per share. 3 Issued 2,000 shares of common stock to attorneys and promoters in exchange for their services in organizing the corporation. The services were valued at $31,000. 8 Issued 3,000 shares of common stock in exchange for equipment with a fair market value of $55,000. 20 Issued 6,000 shares of preferred stock for cash at $80 per share. Required a. Prepare journal entries to record the above transactions. b. Prepare the stockholders' equity section of the balance sheet at April 30. Assume that the net income for April is $60,000.
Answers: 2
Business, 22.06.2019 11:30, iBrain
4. chef a says that broth should be brought to a boil. chef b says that broth should be kept at an even, gentle simmer. which chef is correct? a. neither chef is correct. b. chef a is correct. c. both chefs are correct. d. chef b is correct. student c incorrect which is right answer
Answers: 2
Business, 22.06.2019 18:00, tifftiff22
On september 1, 2016, steve loaned brett $2,000 at 12% interest compounded annually. steve is not in the business of lending money. the note stated that principal and interest would be due on august 31, 2018. in 2018, steve received $2,508.80 ($2,000 principal and $508.80 interest). steve uses the cash method of accounting. what amount must steve include in income on his income tax return?
Answers: 1
Stockholders' Equity: Transactions and Balance Sheet Presentation Torey Corporation was L04, 8 organ...
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