CASTING Canyon Canoe Company will be able to acquire cash as well as land adjacent to its current business location. Before the following transactions, the balance in Common Stock on January 1, 2027, was $136,000 and included $136,000 shares of common stock issued and outstanding. (There was no Paid-In Capital in Excess of Par-Common.) Canyon Canoe Company had the following transactions in 2017: Jan. 1 Issued 50,0000 shares of $1 par value common stock for a total of $200,000. 10 Issued 20,000 shares of 4%, $3 par value preferred stock in exchange for land with a market value of $70.000. Dec. 15 Declared total cash dividends of $15,000. 20 Declared an 8% common stock dividend when the market value of the stock was $4.50 per share. 31 Paid the cash dividends. 31 Distributed the stock dividend. Requirements: Focus 32 E SEP 24 180% 13 14 15 16 6 7 8 9 10 11 12 17 18 19 20 21 22 23 74 A3 2 3 4 5 File 2 ||| - Calculation Mode

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
100%

Please use excel (if you have) when answering this question, I do not know how to use excel and it would be nice to see it in an excel format. Thank you in advance for answering my question. 

E
Canyon Canoe Company will be able to acquire
cash as well as land adjacent to its current business
location. Before the following transactions, the
balance in Common Stock on January 1, 2027, was
$136,000 and included $136,000 shares of
common stock issued and outstanding. (There was
no Paid-In Capital in Excess of Par-Common.)
Canyon Canoe Company had the following
transactions in 2017:
W
Jan. 1 Issued 50,0000 shares of $1 par value
common stock for a total of $200,000.
10 Issued 20,000 shares of 4%, $3 par value
preferred stock in exchange for land with a
market value of $70.000.
Dec. 15 Declared total cash dividends of $15,000.
20 Declared an 8% common stock dividend
when the market value of the stock was $4.50 per
share.
31 Paid the cash dividends.
31 Distributed the stock dividend.
Requirements:
□ Focus
= -
20
SEP
24
180%
20
22
13
8
9
S5670 SENAN495998
1
2
3
4
10
File
Dv
III
Calculation Mode:
Transcribed Image Text:E Canyon Canoe Company will be able to acquire cash as well as land adjacent to its current business location. Before the following transactions, the balance in Common Stock on January 1, 2027, was $136,000 and included $136,000 shares of common stock issued and outstanding. (There was no Paid-In Capital in Excess of Par-Common.) Canyon Canoe Company had the following transactions in 2017: W Jan. 1 Issued 50,0000 shares of $1 par value common stock for a total of $200,000. 10 Issued 20,000 shares of 4%, $3 par value preferred stock in exchange for land with a market value of $70.000. Dec. 15 Declared total cash dividends of $15,000. 20 Declared an 8% common stock dividend when the market value of the stock was $4.50 per share. 31 Paid the cash dividends. 31 Distributed the stock dividend. Requirements: □ Focus = - 20 SEP 24 180% 20 22 13 8 9 S5670 SENAN495998 1 2 3 4 10 File Dv III Calculation Mode:
E
Canyon Canoe Company will be able to acquire
cash as well as land adjacent to its current business
location. Before the following transactions, the
balance in Common Stock on January 1, 2027, was
$136,000 and included $136,000 shares of
common stock issued and outstanding. (There was
no Paid-In Capital in Excess of Par-Common.)
Canyon Canoe Company had the following
transactions in 2017:
W
Jan. 1 Issued 50,0000 shares of $1 par value
common stock for a total of $200,000.
10 Issued 20,000 shares of 4%, $3 par value
preferred stock in exchange for land with a
market value of $70.000.
Dec. 15 Declared total cash dividends of $15,000.
20 Declared an 8% common stock dividend
when the market value of the stock was $4.50 per
share.
31 Paid the cash dividends.
31 Distributed the stock dividend.
Requirements:
□ Focus
= -
20
SEP
24
180%
20
22
13
8
9
S5670 SENAN495998
1
2
3
4
10
File
Dv
III
Calculation Mode:
Transcribed Image Text:E Canyon Canoe Company will be able to acquire cash as well as land adjacent to its current business location. Before the following transactions, the balance in Common Stock on January 1, 2027, was $136,000 and included $136,000 shares of common stock issued and outstanding. (There was no Paid-In Capital in Excess of Par-Common.) Canyon Canoe Company had the following transactions in 2017: W Jan. 1 Issued 50,0000 shares of $1 par value common stock for a total of $200,000. 10 Issued 20,000 shares of 4%, $3 par value preferred stock in exchange for land with a market value of $70.000. Dec. 15 Declared total cash dividends of $15,000. 20 Declared an 8% common stock dividend when the market value of the stock was $4.50 per share. 31 Paid the cash dividends. 31 Distributed the stock dividend. Requirements: □ Focus = - 20 SEP 24 180% 20 22 13 8 9 S5670 SENAN495998 1 2 3 4 10 File Dv III Calculation Mode:
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 1 images

Blurred answer
Knowledge Booster
Investments and Financial instruments
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education