4. The owners are desirous of comparing serval financial transactions and possible outcomes to assist in guiding their decision-making process. They assume that the company will be formed on January 1, 2020. In addition, E&B Comic Bookstore Company’s charter will authorize 1,200,000 shares of common stock (to be divided into two classes (700,000 shares class A -voting rights and 500,000 shares class B -nonvoting rights) and 400,000, $X par value (see info below), 5% cumulative preferred stock. They have asked each student from your accounting course to prepare the company’s journal entries and statement of owner’s equity based on the following information which is grouped according to your first name initial. (Hint!!!! Example first Manuel will use the initial M and that person should only use the info presented in line with the heading with their first name initial. You are not allowed to use info associated other initials other than that of your own. My initial is S A. Issued ____shares of class A common stock. Stock has par value of ___ per share and was issued at $____ per share. (Please refer to table below and use only the info in line with your first name initial in the blank/underlined space). firstname Initial # of shares issued Par value Issue Price A, P, I, E, V 30% of authorised shares $ 20.00 $28.00 C, O, R, Y 20% of authorised shares $ 30.00 $40.00 K, Q, M, F 40% of authorised shares $ 45.00 $62.00 S, W, G, Z 50% of authorised shares $ 45.00 $75.00 D, T, L, U 60% of authorised shares $ 48.00 $105.00 N, B, J, X, H 80% of authorised shares $ 60.00 $125.00 B. Issued _____ shares of no-par class B stock (Please refer to table below and use only the info in line with your first name initial in the blank/underlined space). firstname Initial # of shares issued Issue Price A, P, I, E, V 30% of authorised shares $ 25.00 C, O, R, Y 20% of authorised shares $ 38.00 K, Q, M, F 40% of authorised shares $ 60.00 S, W, G, Z 50% of authorised shares $ 70.00 D, T, L, U 60% of authorised shares $ 98.00 N, B, J, X, H 80% of authorised shares $ 118.00 ACCT1002 Introduction to Financial Accounting 4 C. Issued _______ shares of preferred stock at par value. (Please refer to table below and use only the info in line with your first name initial in the blank/underlined space). firstname Initial # of shares issued Par Value A, P, I, E, V 50% of authorised shares $ 100.00 C, O, R, Y 40% of authorised shares $ 110.00 K, Q, M, F 30% of authorised shares $ 125.00 S, W, G, Z 25% of authorised shares $ 145.00 D, T, L, U 20% of authorised shares $ 168.00 N, B, J, X, H 10% of authorised shares $ 192.00
4. The owners are desirous of comparing serval financial transactions and possible outcomes to assist in guiding their
decision-making process. They assume that the company will be formed on January 1, 2020. In addition, E&B Comic
Bookstore Company’s charter will authorize 1,200,000 shares of common stock (to be divided into two classes (700,000
shares class A -voting rights and 500,000 shares class B -nonvoting rights) and 400,000, $X par value (see info below),
5% cumulative preferred stock. They have asked each student from your accounting course to prepare the company’s
name initial. (Hint!!!! Example first Manuel will use the initial M and that person should only use the info presented
in line with the heading with their first name initial. You are not allowed to use info associated other initials other
than that of your own. My initial is S
A. Issued ____shares of class A common stock. Stock has par value of ___ per share and was issued at $____ per
share. (Please refer to table below and use only the info in line with your first name initial in the blank/underlined
space).
firstname Initial # of shares issued Par value Issue Price
A, P, I, E, V 30% of authorised shares $ 20.00 $28.00
C, O, R, Y 20% of authorised shares $ 30.00 $40.00
K, Q, M, F 40% of authorised shares $ 45.00 $62.00
S, W, G, Z 50% of authorised shares $ 45.00 $75.00
D, T, L, U 60% of authorised shares $ 48.00 $105.00
N, B, J, X, H 80% of authorised shares $ 60.00 $125.00
B. Issued _____ shares of no-par class B stock (Please refer to table below and use only the info in line with your
first name initial in the blank/underlined space).
firstname Initial # of shares issued Issue Price
A, P, I, E, V 30% of authorised shares $ 25.00
C, O, R, Y 20% of authorised shares $ 38.00
K, Q, M, F 40% of authorised shares $ 60.00
S, W, G, Z 50% of authorised shares $ 70.00
D, T, L, U 60% of authorised shares $ 98.00
N, B, J, X, H 80% of authorised shares $ 118.00
ACCT1002 Introduction to Financial Accounting
4
C. Issued _______ shares of preferred stock at par value. (Please refer to table below and use only the info in line
with your first name initial in the blank/underlined space).
firstname Initial # of shares issued Par Value
A, P, I, E, V 50% of authorised shares $ 100.00
C, O, R, Y 40% of authorised shares $ 110.00
K, Q, M, F 30% of authorised shares $ 125.00
S, W, G, Z 25% of authorised shares $ 145.00
D, T, L, U 20% of authorised shares $ 168.00
N, B, J, X, H 10% of authorised shares $ 192.00
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
