All of these screen shots are part of the same question.. This one questions has
ID: 2572043 • Letter: A
Question
All of these screen shots are part of the same question.. This one questions has three seperate parts.
Problem 11-1A B e Spruce Coro as organized on January 1 2017. It is authorized to issue 19,500 shares or 6% ss par val e p efer ed stock and 451.000 shares o, no par com on stock with a stated value of S3 per share. The following stock transactions during the first year Jan. 10 Issued 65,500 shares of common stock for cash at $6 per share. Mar. Issued 1,110 shares of proferred stock for cash at $54 per share. May ued 110,500 shares of common stock for cash at $5 per share. Sept. 1 Issued 4,100 shares of common stock for cash at $8 per share. Nov. Issued 2,100 shares of proferred stock for cash at $60 per share. ere completed ounalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit CreditExplanation / Answer
General Journal
Date
explanation
debit
credit
10-Jan
cash
393000
common stock
196500
additional paid in capital- common stock
196500
1-Mar
cash
59940
preferred stock
55500
additional paid in capital- preferred stock
4440
1-May
cash
552500
common stock
331500
additional paid in capital- common stock
221000
1-Sep
cash
32800
common stock
12300
additional paid in capital- common stock
20500
1-Dec
cash
126000
preferred stock
105000
additional paid in capital- preferred stock
21000
General ledger
common stock
balance
540300
cash
196500
cash
331500
cash
12300
540300
total
540300
preferred stock
balance
160500
cash
55500
cash
105000
total
160500
total
160500
additional paid in capital- equity
balance
438000
cash
196500
cash
20500
cash
221000
total
438000
total
438000
additional paid in capital- preferred stock
balance
25440
cash
4440
cash
21000
total
25440
total
25440
Balance sheet
Shareholders equity section
Paid in capital
preferred stock
160500
common stock
540300
additional paid in capital- equity
438000
additional paid in capital- preferred stock
25440
total shareholders equity
1164240
General Journal
Date
explanation
debit
credit
10-Jan
cash
393000
common stock
196500
additional paid in capital- common stock
196500
1-Mar
cash
59940
preferred stock
55500
additional paid in capital- preferred stock
4440
1-May
cash
552500
common stock
331500
additional paid in capital- common stock
221000
1-Sep
cash
32800
common stock
12300
additional paid in capital- common stock
20500
1-Dec
cash
126000
preferred stock
105000
additional paid in capital- preferred stock
21000
General ledger
common stock
balance
540300
cash
196500
cash
331500
cash
12300
540300
total
540300
preferred stock
balance
160500
cash
55500
cash
105000
total
160500
total
160500
additional paid in capital- equity
balance
438000
cash
196500
cash
20500
cash
221000
total
438000
total
438000
additional paid in capital- preferred stock
balance
25440
cash
4440
cash
21000
total
25440
total
25440
Balance sheet
Shareholders equity section
Paid in capital
preferred stock
160500
common stock
540300
additional paid in capital- equity
438000
additional paid in capital- preferred stock
25440
total shareholders equity
1164240