Paid in Capital of Corporation: The Corporation rely on the issue of stock as a major source of amount financed and the stock which can be issued cane of two types: Common Stock and preferred Stock (having some privileges over common stock). Whether common or preferred stock issued, it may have a par value or no par value. In case of par value, the amount is fixed and is noted and approved with the State charter for each shares. The shares issued must be credited in the stock capital of the business with the amount of par value of shares issued. The amount excess recovered shall be credited in a separate account known as Additional paid in capital for each category of stock. The Shares having no par value is done away the requirement of allocation of par value and excess amount among two accounts. The whole amount received is credited to Stock-No par account (for each category of stock). Sometimes, the stock is issued as a consideration for any assets purchased. In such cases, the consideration must be determined on the basis of market value of assets or stock which is more clearly established for passing the entry in the books. Requirement1: The Journal entries for transactions relating issuance of stock capital.

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Answer 1

Question

Chapter 13, Problem E13.22E

To determine

Paid in Capital of Corporation:

The Corporation rely on the issue of stock as a major source of amount financed and the stock which can be issued cane of two types: Common Stock and preferred Stock (having some privileges over common stock).

Whether common or preferred stock issued, it may have a par value or no par value. In case of par value, the amount is fixed and is noted and approved with the State charter for each shares. The shares issued must be credited in the stock capital of the business with the amount of par value of shares issued. The amount excess recovered shall be credited in a separate account known as Additional paid in capital for each category of stock.

The Shares having no par value is done away the requirement of allocation of par value and excess amount among two accounts. The whole amount received is credited to Stock-No par account (for each category of stock).

Sometimes, the stock is issued as a consideration for any assets purchased. In such cases, the consideration must be determined on the basis of market value of assets or stock which is more clearly established for passing the entry in the books.

Requirement1:

The Journal entries for transactions relating issuance of stock capital.

To determine

Requirement2:

The amount of stockholder’s equity capital after above transactions.

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128361 MENTS was extracted by as at 30 June 2018. als to agree. 30 June 2018 Dr with each other. Trial Balance as at 31 December 2017 32.7X D. Fearon extracted the following trial balance from his books. He could not get the totals to agree Dr Cr Cr $ $ $ $ 87,050 Capital 25,621 62,400 Drawings 13,690 110° 305 410 Sales 94,630 Multiple Each multipl answers: (A) question and (B), (C) or (D piece of pape of questions written atter When you your answer 3,168 Purchases 258 60,375 61 A debit 595 Returns inwards and outwards 1,210 1,109 10,000-35 Wages and salaries 2,000 14,371 12,490 Sundry expenses чут -598 8,120 5,045 Inventory 1.1.2017 8,792 168 account (A) we (B) we (C) we h that 6,790+85 Accounts receivable and accounts 16811,370 4,290 (D) we payable 4,520 Loan from J. Chandler 2000 62 Inventor 5,000 17,017 Equipment 16,000 period is 1,134 Bank 1500 (A) carri 5,790 109,522 109,522 Suspense (B) carri 1,546 (C) tran 132,196 132,196 nd: by $350. ercast by $100. 50, have been entered in n…

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Answer 2

Question

Chapter 13, Problem E13.22E

To determine

Paid in Capital of Corporation:

The Corporation rely on the issue of stock as a major source of amount financed and the stock which can be issued cane of two types: Common Stock and preferred Stock (having some privileges over common stock).

Whether common or preferred stock issued, it may have a par value or no par value. In case of par value, the amount is fixed and is noted and approved with the State charter for each shares. The shares issued must be credited in the stock capital of the business with the amount of par value of shares issued. The amount excess recovered shall be credited in a separate account known as Additional paid in capital for each category of stock.

The Shares having no par value is done away the requirement of allocation of par value and excess amount among two accounts. The whole amount received is credited to Stock-No par account (for each category of stock).

Sometimes, the stock is issued as a consideration for any assets purchased. In such cases, the consideration must be determined on the basis of market value of assets or stock which is more clearly established for passing the entry in the books.

Requirement1:

The Journal entries for transactions relating issuance of stock capital.

To determine

Requirement2:

The amount of stockholder’s equity capital after above transactions.

Expert Solution & Answer

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Answer 3

Question

Chapter 13, Problem E13.22E

To determine

Paid in Capital of Corporation:

The Corporation rely on the issue of stock as a major source of amount financed and the stock which can be issued cane of two types: Common Stock and preferred Stock (having some privileges over common stock).

Whether common or preferred stock issued, it may have a par value or no par value. In case of par value, the amount is fixed and is noted and approved with the State charter for each shares. The shares issued must be credited in the stock capital of the business with the amount of par value of shares issued. The amount excess recovered shall be credited in a separate account known as Additional paid in capital for each category of stock.

The Shares having no par value is done away the requirement of allocation of par value and excess amount among two accounts. The whole amount received is credited to Stock-No par account (for each category of stock).

Sometimes, the stock is issued as a consideration for any assets purchased. In such cases, the consideration must be determined on the basis of market value of assets or stock which is more clearly established for passing the entry in the books.

Requirement1:

The Journal entries for transactions relating issuance of stock capital.

To determine

Requirement2:

The amount of stockholder’s equity capital after above transactions.

Expert Solution & Answer

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Answer 4

Question

Chapter 13, Problem E13.22E

To determine

Paid in Capital of Corporation:

The Corporation rely on the issue of stock as a major source of amount financed and the stock which can be issued cane of two types: Common Stock and preferred Stock (having some privileges over common stock).

Whether common or preferred stock issued, it may have a par value or no par value. In case of par value, the amount is fixed and is noted and approved with the State charter for each shares. The shares issued must be credited in the stock capital of the business with the amount of par value of shares issued. The amount excess recovered shall be credited in a separate account known as Additional paid in capital for each category of stock.

The Shares having no par value is done away the requirement of allocation of par value and excess amount among two accounts. The whole amount received is credited to Stock-No par account (for each category of stock).

Sometimes, the stock is issued as a consideration for any assets purchased. In such cases, the consideration must be determined on the basis of market value of assets or stock which is more clearly established for passing the entry in the books.

Requirement1:

The Journal entries for transactions relating issuance of stock capital.

To determine

Requirement2:

The amount of stockholder’s equity capital after above transactions.

Expert Solution & Answer

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Answer 5

Chapter 13, Problem E13.22E

To determine

Paid in Capital of Corporation:

The Corporation rely on the issue of stock as a major source of amount financed and the stock which can be issued cane of two types: Common Stock and preferred Stock (having some privileges over common stock).

Whether common or preferred stock issued, it may have a par value or no par value. In case of par value, the amount is fixed and is noted and approved with the State charter for each shares. The shares issued must be credited in the stock capital of the business with the amount of par value of shares issued. The amount excess recovered shall be credited in a separate account known as Additional paid in capital for each category of stock.

The Shares having no par value is done away the requirement of allocation of par value and excess amount among two accounts. The whole amount received is credited to Stock-No par account (for each category of stock).

Sometimes, the stock is issued as a consideration for any assets purchased. In such cases, the consideration must be determined on the basis of market value of assets or stock which is more clearly established for passing the entry in the books.

Requirement1:

The Journal entries for transactions relating issuance of stock capital.

To determine

Requirement2:

The amount of stockholder’s equity capital after above transactions.

Answer 6

Chapter 13, Problem E13.22E

To determine

Paid in Capital of Corporation:

The Corporation rely on the issue of stock as a major source of amount financed and the stock which can be issued cane of two types: Common Stock and preferred Stock (having some privileges over common stock).

Whether common or preferred stock issued, it may have a par value or no par value. In case of par value, the amount is fixed and is noted and approved with the State charter for each shares. The shares issued must be credited in the stock capital of the business with the amount of par value of shares issued. The amount excess recovered shall be credited in a separate account known as Additional paid in capital for each category of stock.

The Shares having no par value is done away the requirement of allocation of par value and excess amount among two accounts. The whole amount received is credited to Stock-No par account (for each category of stock).

Sometimes, the stock is issued as a consideration for any assets purchased. In such cases, the consideration must be determined on the basis of market value of assets or stock which is more clearly established for passing the entry in the books.

Requirement1:

The Journal entries for transactions relating issuance of stock capital.

Answer 7

Chapter 13, Problem E13.22E

To determine

Paid in Capital of Corporation:

The Corporation rely on the issue of stock as a major source of amount financed and the stock which can be issued cane of two types: Common Stock and preferred Stock (having some privileges over common stock).

Whether common or preferred stock issued, it may have a par value or no par value. In case of par value, the amount is fixed and is noted and approved with the State charter for each shares. The shares issued must be credited in the stock capital of the business with the amount of par value of shares issued. The amount excess recovered shall be credited in a separate account known as Additional paid in capital for each category of stock.

The Shares having no par value is done away the requirement of allocation of par value and excess amount among two accounts. The whole amount received is credited to Stock-No par account (for each category of stock).

Sometimes, the stock is issued as a consideration for any assets purchased. In such cases, the consideration must be determined on the basis of market value of assets or stock which is more clearly established for passing the entry in the books.

Requirement1:

The Journal entries for transactions relating issuance of stock capital.

Answer 8

To determine

Requirement2:

The amount of stockholder’s equity capital after above transactions.

Answer 9

To determine

Requirement2:

The amount of stockholder’s equity capital after above transactions.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 13 - Prob. 1QC Ch. 13 - Prob. 2QC Ch. 13 - Prob. 3QC Ch. 13 - Prob. 4QC Ch. 13 - Prob. 5QC Ch. 13 - Prob. 6QC Ch. 13 - Prob. 7QC Ch. 13 - Prob. 8QC Ch. 13 - Prob. 9QC Ch. 13 - Prob. 10QC

Requirement2: The amount of stockholder’s equity capital after above transactions.

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Chapter 13 Solutions

Requirement2:

The amount of stockholder’s equity capital after above transactions.