Question: headings and options for b provided. quick response needed thanks Ludwig Inc. was authorized to issue an unlimited number of common shares. During September 2014,

 headings and options for b provided. quick response needed thanks Ludwig
Inc. was authorized to issue an unlimited number of common shares. During
September 2014, their first month of operations, the following selected transactions occurred:
a September 3: Gave the corporation's promoters 9,000 common shares for their
services in organizing the corporation. The directors b. September 3: 8,000 common
shares were issued in exchange for land valued at $24,000 c. September
8: 7,000 of the common shares were issued for a total of
$35,000 cash d. September 13 Issued 8,000 common shares at $6.90 per
share for cash e. September 30: Closed the Income Summary account. An headings and options for b provided. quick response needed thanks

Ludwig Inc. was authorized to issue an unlimited number of common shares. During September 2014, their first month of operations, the following selected transactions occurred: a September 3: Gave the corporation's promoters 9,000 common shares for their services in organizing the corporation. The directors b. September 3: 8,000 common shares were issued in exchange for land valued at $24,000 c. September 8: 7,000 of the common shares were issued for a total of $35,000 cash d. September 13 Issued 8,000 common shares at $6.90 per share for cash e. September 30: Closed the Income Summary account. An income of $80,000 was earned. a) Prepare journal entries for the above transactions, entering the transaction letter as the explanation, and the dates in the format dd/mmm. (ie. 15/Jan) General Journal Account/Explanation Date Page GU5 F Debit Credit + + T + - + - + b) Prepare the equity section of the balance sheet of Ludwig Inc. at September 30, 2014 Ludwig Inc. Equity Section of Balance sheet September 30, 2014 Common shares, unlimited shares authorized; shares issued and outstanding (Select one) (Select one) c) What was the average issue price per common share? Average issue price per common share Choose an Account or Heading ategories: Accounts and Headings: Accounts Payable ssets Accounts Receivable abilities Accumulated Amortization, Copyright quity Accumulated Amortization, Patents Equity Accumulated Amortization, Trademark Revenues Accumulated Depreciation, Automobiles Expenses Accumulated Depreciation, Boats Other Accumulated Depreciation, Building Accumulated Depreciation, Equipment Accumulated Depreciation, Furniture Accumulated Depreciation, Land Improvements Accumulated Depreciation, Machinery Accumulated Depreciation, Trucks Advertising Expense Advertising Payable Amortization Expense, Copyright Amortization Expense, Patents Automobiles Search: Erase Cancel Choose an Account or Heading ategories: Accounts and Headings: 1 Depreciation Expense, Furniture ssets Depreciation Expense, Land Improvements abilities Depreciation Expense, Machinery quity Depreciation Expense, Trucks Equity Depreciation expense Revenues Equipment Expenses Furniture Other Income Summary Income Taxes Expense Income Taxes Payable Insurance Expense Interest Earned Interest Expense Interest Payable Interest Receivable Investment in Bonds Land Land Improvements Search: Erase Cancel Choose an Account or Heading ategories: Accounts and Headings: 1 - Land Improvements ssets Long-Term Notes Payable abilities Long-term Investment in Shares quity Machinery Equity Merchandise Inventory Revenues Mortgage Payable Expenses Notes Receivable Other Office Salaries Expense Office Supplies Expense Organization Expense Patents Preferred Shares Prepaid Advertising Prepaid Insurance Prepaid Interest Prepaid Rent Property Taxes Expense Property Taxes Pavable Search: Erase Cancel Choose an Account or Heading tegories: Accounts and Headings: Property Taxes Payable sets Rent Earned bilities Rent Expense uity Rent Payable quity Rent Receivable evenues Rent expense, office space xpenses Rent expense, selling space ther Retained Earnings Salaries Expense Salaries Payable Sales Sales Discounts Sales Returns and Allowances Sales Salaries Expense Share Dividends Declared Short-Term Notes Payable Store Supplies Expense Sunnlias Search: Erase Cancel Choose an Account or Heading ategories: Accounts and Headings: 1 Retained Earnings ssets Salaries Expense abilities Salaries Payable quity Sales Equity Sales Discounts Revenues Sales Returns and Allowances Expenses Sales Salaries Expense Other Share Dividends Declared Short-Term Notes Payable Store Supplies Expense Supplies Supplies Expense Trademark Trucks Unearned Consulting Revenue Unearned Rent Unearned Revenue - Utilities Expense Search: Erase Cancel Share ISSUE Select one) Select one) Assets Liabilities clNet income erag Net loss Retained earnings pel per Total equity

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