Business, 04.04.2020 04:24 lIechonoxIl

Mendoza Corporation was organized on January 1, 2017. It is authorized to issue 20,000 shares of 6%, $40 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year.

Jan. 10 Issued 100,000 shares of common stock for cash at $3 per share.
Mar. 1 Issued 10,000 shares of preferred stock for cash at $55 per share.
Apr. 1 Issued 25,000 shares of common stock for land. The asking price of the land was $90,000. The company's estimate of fair value of the land was $75,000.
May 1 Issued 75,000 shares of common stock for cash at $4 per share.
Aug. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill for $50,000 for services performed in helping the company organize.
Sept. 1 Issued 5,000 shares of common stock for cash at $6 per share.
Nov. 1 Issued 2,000 shares of preferred stock for cash at $60 per share.
a) Journalize the transactions.

b) Post to the stockholders' equity accounts. (Use J1 as the posting reference.)

c) Prepare the paid-in capital section of stockholders' equity at December 31, 2017.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 21.06.2019 21:30, gokusupersaiyan12345

Afreezer manufacturer might purchase sheets of steel, wiring, shelving, and so forth, as part of its final product. this is an example of what sub-classification of business market?

Answers: 1

continue

Business, 22.06.2019 10:20, rockstargirl9245

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.

Answers: 1

continue

Business, 22.06.2019 19:20, dayday0

Six years ago, an 80-kw diesel electric set cost $160,000. the cost index for this class of equipment six years ago was 187 and is now 194. the cost-capacity factor is 0.6. the plant engineering staff is considering a 120-kw unit of the same general design to power a small isolated plant. assume we want to add a precompressor, which (when isolated and estimated separately) currently costs $13291. determine the total cost of the 120-kw unit. (hint: skip $ and comma symbols)

Answers: 3

continue

Business, 22.06.2019 22:50, emanuelmorales1515

Amonopolist’s inverse demand function is p = 150 – 3q. the company produces output at two facilities; the marginal cost of producing at facility 1 is mc1(q1) = 6q1, and the marginal cost of producing at facility 2 is mc2(q2) = 2q2.a. provide the equation for the monopolist’s marginal revenue function. (hint: recall that q1 + q2 = q.)mr(q) = 150 - 6 q1 - 3 q2b. determine the profit-maximizing level of output for each facility. output for facility 1: output for facility 2: c. determine the profit-maximizing price.$

Answers: 3

continue

You know the right answer?

Mendoza Corporation was organized on January 1, 2017. It is authorized to issue 20,000 shares of 6%,...