Acct 2011 Final Exam

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ACCT 2011 Final Exam
Buy Now From Below: http://www.homeworkarena.com/acct-2011-final-time-test BE15-1

Buttercup Corporation issued 300 shares of $10 par value common stock for $4,500. Prepare Buttercup's journal entry. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)

BE15-2

Swarten Corporation issued 600 shares of no-par common stock for $8,200. Prepare Swarten's journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $2 per share. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)
BE15-3

Wilco Corporation has the following account balances at December 31, 2012. Common stock, $5 par value $510,000 Treasury stock 90,000 Retained earnings 2,340,000 Paid-in capital in excess of par 1,320,000
Prepare Wilco's December 31, 2012, stockholders' equity section.

BE15-4

Ravonette Corporation issued 300 shares of $10 par value common stock and 100 shares of $50 par value preferred stock for a lump sum of $13,500. The common stock has a market price of $20 per share, and the preferred stock has a market price of $90 per share. Prepare the journal entry to record the issuance. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)

BE15-5

On February 1, 2012, Buffalo Corporation issued 3,000 shares of its $5 par value common stock for land worth $31,000. Prepare the February 1, 2012, journal entry. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)

BE15-6

Moonwalker Corporation issued 2,000 shares of its $10 par value common stock for $60,000. Moonwalker also incurred $1,500 of costs associated with issuing the stock. Prepare Moonwalker's journal entry to record the issuance of the company's stock. (List multiple…...

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