AC/113 AC113 AC 113 UNIT 10 FINAL ASSIGNMENT

AC 113 UNIT 10 FINAL ASSIGNMENT 

Unit 10 Final Assignment:

The Unit 10 Assignment will introduce you to understand transactions for issuing stocks and cash dividends.

Your Assignment consists of the following:

Exercises 8-17 and 8-22

Templates are required to use for the Assignments. Download the template from the spreadsheet icon below. To assist you in making sure that you are on the right track with your Assignment, view the solutions to self-check your work. If you have questions, please contact your instructor.

Upload your Excel file to the Assignment Dropbox by the end of the unit.

Note: In order to ensure full functionality for these homework templates, it is recommended that you download/save each Excel template to your computer in the .xlsx format

E8-17  Issuing par stock

On January 29, Quality Marble Inc., a marble contractor, issued for cash 75,000 shares of $10 par common stock at $23, and on May 31, it issued for cash 100,000 shares of $4 par preferred stock at $6.

• Illustrate the effects on the accounts and financial statements of the January 29 and May 31 transactions.
• What is the total amount invested (total paid-in capital) by all stockholders as of May 31?

E8-22 Cash dividends

The dates of importance in connection with a cash dividend declared and paid of $55,350 on a corporation's common stock are February 6, March 9, and April 8. Illustrate the effects on the accounts and financial statements for each date.