Bell Inc. began operations on January 1,2017, and immediately issued 7000 common shares for cash of...
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Bell Inc. began operations on January 1,2017, and immediately issued 7000 common shares for cash of $3.5 per share. On January 3, 900 common shares were issued to promoters in exchange for their service in selling shares of the corporation. The costs were charged to organization expenses. The shares were valued at $1300. On January 12, 4000 preferred shares were issued for cash of $8.00 per share. On February 2,10000 common shares were issued in exchange two trucks at $ 29000. On February 26, 2000 more preferred shares were issued for total cash of $16000. Assume a loss of $7000 was realized in January, profit earned was $60000 and dividends totaling $7000 had been declared and paid in February and assume the assets fotaled to $390000 at February 28,2017 what is the total common shares (type the numbers only-do not include a 2 points dollar sign) * Your answer What is the total equity(Do not include dollar sign, type the number only)po Your answer What % of asses was financed by total debt?(do not include % sign, your answer should be stated as number only e.g 45. if the answer was 44.5 then your answer should still be expressed as 45) Bell Inc. began operations on January 1,2017, and immediately issued 7000 common shares for cash of $3.5 per share. On January 3, 900 common shares were issued to promoters in exchange for their service in selling shares of the corporation. The costs were charged to organization expenses. The shares were valued at $1300. On January 12, 4000 preferred shares were issued for cash of $8.00 per share. On February 2,10000 common shares were issued in exchange two trucks at $ 29000. On February 26, 2000 more preferred shares were issued for total cash of $16000. Assume a loss of $7000 was realized in January, profit earned was $60000 and dividends totaling $7000 had been declared and paid in February and assume the assets fotaled to $390000 at February 28,2017 what is the total common shares (type the numbers only-do not include a 2 points dollar sign) * Your answer What is the total equity(Do not include dollar sign, type the number only)po Your answer What % of asses was financed by total debt?(do not include % sign, your answer should be stated as number only e.g 45. if the answer was 44.5 then your answer should still be expressed as 45)
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Requirement a Journal Entries Date Accounts Title Debit Credit Jan01 Cash 24500 Common Shar... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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