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Chapter Two and Three Problems

 

Please complete the following 7 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.

 

Chapter 2 Exercise 1

1. Issuance of stock

Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases:

a.       Jackson Corporation has common stock with a par value of $1 per share.

b.      Royal Corporation has no-par common with a stated value of $5 per share.

c.       French Corporation has no-par common; no stated value has been assigned

 

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Chapter 2 Exercise 3 3. Analysis of stockholders' equity Star Corporation issued both common and preferred stock during 20X6. The stockholders' equity sections of the company's balance sheets at the end of 20X6 and 20X5 follow. 20X6 20X5 Preferred stock, $100 par value, 10% $580,000 $500,000 Common...
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