Sep 3, 2018
ACC 291 WEEK 4 INDIVIDUAL ASSIGNMENT – EXERCISES Complete Problem 11-6A. E11-15 Before Action After Stock Dividend After Stock Split Stockholders’ equity Paid-in capital Common stock $600,000 $630,000 $600,000 In excess of par value 0 3,000 x ($14-$10)= 12,000 0 Total paid-in capital 600,000 642,000 600,000 Retained earnings 900,000…
ACC 291 WEEK 4 INDIVIDUAL ASSIGNMENT – EXERCISES
Complete Problem 11-6A.
(a) Prepare the journal entries for the:
(1) Issuance of preferred stock for land. Land 296,000 Preferred Stock 240,000 (2,400 x $100) Paid-in Capital in Excess of Par Value—Preferred 56,000
