acct hw need calculations shown and proper journal entries 494376

Chapter 11 Quick Study 11-16 (10 minutes) Total stockholders’ equity Less equity attributable to preferred shares: Call price (10,000 shares x $30) Equity applicable to common shares Book value of common shares ($620,000/75,000 shares) PROBLEM SET A Problem 11-1A (30 minutes) Part 1 a. To record sale of 5,000 shares of $25 par value common stock for $30 per share. b. To record issuance of 2,500 shares of $25 par value common stock to the company’s promoters for their efforts in organizing the company when the market value is $30 per share. c. To record acquisition of assets and liabilities by issuing 1,000 shares of $25 par value common stock at $40 per share. d. To record sale of 1,500 shares of $25 par value common stock for $40 per share. Part 2 Number of outstanding shares Issued in (a) Issued in (b) Issued in (c) Issued in (d) Total Part 3 Minimum legal capital = Part 4 Total contributed capital from common stockholders From transaction (a) From transaction (b) From transaction (c) From transaction (d) Total contributed capital Part 5 Book value per common share Total stockholders’ equity (given) Outstanding shares (from Part 2) Book value per common share Calculations: Problem 11-2A (60 minutes) Part 1 You can place your calculations in the description line Jan. 1 Treasury Stock, Common Cash Jan. 5 Retained Earnings Common Dividend Payable Feb. 28 Common Dividend Payable Cash July 6 Cash* Treasury Stock, Common** Aug. 22 Cash* Paid-In Capital, Treasury Stock Retained Earnings Treasury Stock, Common** Sept. 5 Retained Earnings Common Dividend Payable Oct. 28 Common Dividend Payable Cash Dec. 31 Income Summary Retained…