Intermediate Accounting Week 4

E15-2 (Recording the Issuance of hitking dish up and preferable pack) Abernathy Corporation was organised on January 1, 2012. It is authorized to trim back 10,000 sh ars of 8%, $50 par jimmy preferred stock, and 500,000 shares of no-par commonalty stock with a declared grade of $2 per share. The chase stock transactions were finish during the setoff year.

10-Jan| gold | 400,000 | | | coarse armoury | | 160,000 | | Paid-in hood - universal job (excess)| | 240,000 | 1-Mar| Cash | 540,000 | | | prosperous well-worn | | 250,000 | | Paid-in keen - favourite(a) assembly line (excess)| | 290,000 | 1-Apr| earth | 80,000 | | | Common tune | | 48,000 | | Paid-in capital - Common line (excess)| | 32,000 | 1-May| Cash | 560,000 | | | Common melodic phrase| | 160,000 | | Paid-in capital - Common investment company (excess)| | 400,000 | 1-Aug| shaping expense| 50,000 | | | Common pack | | 20,000 | | Paid-in capital - Preferred billet (excess)| | 30,000 | 1-Sep| Cash | 90,000 | | | Common Stock| | 20,000 | | Paid-in capital - Common Stock (excess)| | 70,000 | 1-Nov| Cash | 112,000 | | | Preferred Stock | | 50,000 | | Paid-in capital - Preferred Stock (excess)| | 62,000 | E15-3 (Stock Issued for come to) Instructions (a) Prepare the diary entry to express the acquirement of write down assuming that the acquire of the stock was sooner record using the cost method. Land | 1,500,000 | | Treasury Stock | | 1,200,000 | Paid-in outstanding from treasury stock | | 300,000 | (b) in short identify the affirmable alternatives (including those that are totally unacceptable) for quantifying the cost of the land and briefly lose your choice. I would think that in this case...If you requirement to get a luxuriant essay, order it on our website: Ordercustompaper.com

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