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Surname Initial AP. I, E, V C,O,R, Y KO ME S W. G, Z D. T. LU IN, B. J, X,H Net Income 500,000.00 800,000.00 e50.000.00 750,000.00 820,000.00 900,000.00 • Paid dividends to preferred shareholders as well as $2 per share to common stockholders. Using the info above and as a guide: A. Prepare the journal entries with narrations to record the following: • The issuances of stock. • Close out net income to retained earnings. • Dividend paid. • Close out dividend to retained earnings. B. Prepare Osboume Corporation Stockholders equity section of the balanoe sheet at December 31, 2021. (Hint!!) The following information must be clearly stated/shown: • infomation on par values, • the number of shares authorized and issued where necessary. • the sub total for the total paid in capital. • Retained earnings. • total stockholders' equity.

Surname Initial AP. I, E, V C,O,R, Y KO ME S W. G, Z D. T. LU IN, B. J, X,H Net Income 500,000.00 800,000.00 e50.000.00 750,000.00 820,000.00 900,000.00 • Paid dividends to preferred shareholders as well as $2 per share to common stockholders. Using the info above and as a guide: A. Prepare the journal entries with narrations to record the following: • The issuances of stock. • Close out net income to retained earnings. • Dividend paid. • Close out dividend to retained earnings. B. Prepare Osboume Corporation Stockholders equity section of the balanoe sheet at December 31, 2021. (Hint!!) The following information must be clearly stated/shown: • infomation on par values, • the number of shares authorized and issued where necessary. • the sub total for the total paid in capital. • Retained earnings. • total stockholders' equity.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Kindly help. My surname begins with H.

2. The company is desirous of comparing serval financial transactions and possible outcomes to assist in guiding its Surname Initial# ofshares issued A P. I E V C.O.RY KQ. M.F S. W. G Z D. T, LU IN, B, J, XH 2,000 5,000 decision-making process. It is assumed that the company will be formed on January 1, 2021 and registered as Osboume Corporation. The company's charter will authorize 1,000,000 shares of common stock and 400,000, 8.000 10,000 12,000 14,000 $100 par value, 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 surname name initial. (Hint!!!! Example sumame Manuel will use the initial M and that person should only use the info presented in line with the heading with their surname initial. You are shares of common stock for land with an appraised value of $ and a building with • Exchanged an appraised value of S (please refer to table below and use only the info in line with your not allowed to use info associated other initials other than that of your own as this will result in the forfeiture of the grade.) (Please to rules above on double-barrel surnames) surname initial in the blank/underlined space) Surname Initial A P. I, E, V c, O, R, Y KQ. M. F S. W. G,Z D. T.LU IN, B, J, X H #of shares issued Value of Iland Value of Building 100,000 S 250,000.00 S 120,000 $ 300,000.00 S 160.000 S 400.000.00 S 650.000.00 200,000 S 500,000.00 s 220,000 s600.000.00 s 260,000 | se50,000.00 | s • Issued shares of common stock. Stock has par value of per share and was issued at $ 450,000.00 500,000.00 per share. (please,refer to table below and use only the info in line with your surname initial in the blank/underlined space) 700,000.00 350.000.00 Surname Initial# of shares issued Par value A P. I E V C.OR.Y K Q. M. F S W. G. Z D. T. LU IN, B, J, X H 5,000 S 15,000 S 45.500 S 65,000| S 80.000s 100,000 | s Issue Price 0.01 S 0.10S 0.30 S 0.40 s 0.50 S 0.60 | s 30.00 30.00 30.00 30.00 30.00 500,000.00 Earned Net income $ (please refer to table below and use only the info in line with your surname initial in the blank/underlined space) 30.00 • Issued shares of preferred stock at par value as payment in exchange for legal services. (please refer to table below and use only the info in line with your surname initial in the blank/underlined space)
Transcribed Image Text:2. The company is desirous of comparing serval financial transactions and possible outcomes to assist in guiding its Surname Initial# ofshares issued A P. I E V C.O.RY KQ. M.F S. W. G Z D. T, LU IN, B, J, XH 2,000 5,000 decision-making process. It is assumed that the company will be formed on January 1, 2021 and registered as Osboume Corporation. The company's charter will authorize 1,000,000 shares of common stock and 400,000, 8.000 10,000 12,000 14,000 $100 par value, 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 surname name initial. (Hint!!!! Example sumame Manuel will use the initial M and that person should only use the info presented in line with the heading with their surname initial. You are shares of common stock for land with an appraised value of $ and a building with • Exchanged an appraised value of S (please refer to table below and use only the info in line with your not allowed to use info associated other initials other than that of your own as this will result in the forfeiture of the grade.) (Please to rules above on double-barrel surnames) surname initial in the blank/underlined space) Surname Initial A P. I, E, V c, O, R, Y KQ. M. F S. W. G,Z D. T.LU IN, B, J, X H #of shares issued Value of Iland Value of Building 100,000 S 250,000.00 S 120,000 $ 300,000.00 S 160.000 S 400.000.00 S 650.000.00 200,000 S 500,000.00 s 220,000 s600.000.00 s 260,000 | se50,000.00 | s • Issued shares of common stock. Stock has par value of per share and was issued at $ 450,000.00 500,000.00 per share. (please,refer to table below and use only the info in line with your surname initial in the blank/underlined space) 700,000.00 350.000.00 Surname Initial# of shares issued Par value A P. I E V C.OR.Y K Q. M. F S W. G. Z D. T. LU IN, B, J, X H 5,000 S 15,000 S 45.500 S 65,000| S 80.000s 100,000 | s Issue Price 0.01 S 0.10S 0.30 S 0.40 s 0.50 S 0.60 | s 30.00 30.00 30.00 30.00 30.00 500,000.00 Earned Net income $ (please refer to table below and use only the info in line with your surname initial in the blank/underlined space) 30.00 • Issued shares of preferred stock at par value as payment in exchange for legal services. (please refer to table below and use only the info in line with your surname initial in the blank/underlined space)
Surname Initial A P, I, E V C.O, R Y KQ. M.F S. W, G, Z D. T. LU IN, B. J, Ҳ, H Net Income 500,000.00 800,000.00 650.000.00 750,000.00 820,000.00 900,000.00 Paid dividends to preferred shareholders as well as $2 per share to common stockholders. Using the info above and as a guide: A. Prepare the journal entries with narrations to record the following: • The issuances of stock. • Close out net income to retained earnings. • Dividend paid. • Close out dividend to retained earnings. B. Prepare Osboume Corporation Stockholders equity section of the balance sheet at December 31, 2021. (Hint!!!!!) The following information must be clearly statedishown: • information on par values, • the number of shares authorized and issued where necessary. • the sub total for the total paid in capital. • Retained earnings. • total stockholders' equity.
Transcribed Image Text:Surname Initial A P, I, E V C.O, R Y KQ. M.F S. W, G, Z D. T. LU IN, B. J, Ҳ, H Net Income 500,000.00 800,000.00 650.000.00 750,000.00 820,000.00 900,000.00 Paid dividends to preferred shareholders as well as $2 per share to common stockholders. Using the info above and as a guide: A. Prepare the journal entries with narrations to record the following: • The issuances of stock. • Close out net income to retained earnings. • Dividend paid. • Close out dividend to retained earnings. B. Prepare Osboume Corporation Stockholders equity section of the balance sheet at December 31, 2021. (Hint!!!!!) The following information must be clearly statedishown: • information on par values, • the number of shares authorized and issued where necessary. • the sub total for the total paid in capital. • Retained earnings. • total stockholders' equity.
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