Question: How do I do this? Journal entry, t-account and balance sheet. Journal Entries T-Accounts Jan.05 Jan. 18 Mar.12 Jul.17 Oct.01 Oct.01 Bal Jan.18 Mar.12 Cash

How do I do this? Journal entry, t-account and balance sheet. How do I do this? Journal entry, t-account and balance sheet. JournalEntries T-Accounts Jan.05 Jan. 18 Mar.12 Jul.17 Oct.01 Oct.01 Bal Jan.18 Mar.12Cash 0 0 0 0 0 Jul.17 Bal. ooooo Treasury Stock 0

Journal Entries T-Accounts Jan.05 Jan. 18 Mar.12 Jul.17 Oct.01 Oct.01 Bal Jan.18 Mar.12 Cash 0 0 0 0 0 Jul.17 Bal. ooooo Treasury Stock 0 0 0 0 0 0 0 Paid-in-Capital in Excess of Par Value - Preferred Stock 0 0 0 0 0 0 0 Balance Sheets OO Oct.01 Bal. Preferred Stock 0 Beg. bal Dec.31 Bal. Retained Earnings 346,000 0 OO 0 0 Beg. bal Jan.05 Bal 0 0 Common Stock 0 0 750,000 0 0 OO Paid-in-Capital in Excess of Par Value - Common Stock Beg. bal 600,000 Jan.5 Bal 0 0 Paid-in-Capital from Treasury Stock 0 0 0 Mar.12 Jul.17 Bal. Journal Entries Do not use negative signs with your answers. Paid in Capital T-Accounts Balance Sheets Total Paid-in-Capital Check Stockholders' Equity Additional Paid-in-Capital Paid-in-Capital in Excess of Par value-Preferred Stock Paid-in-Capital in Excess of Par value - Common Stock 4 tA 0 0 0 0 0 +A $ LA 0 0 0 0 0 0 0 Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders equity accounts of Scott Corporation at January 1 follow: Common stock, $5 par value. 350,000 shares authorized: 150,000 shares issued and outstanding Paid-in capital in excess of par value (common stock) Retained earnings During the year, the following transactions occurred: Jan. 5 Issued 10,000 shares of common stock for $16 cash per share. 18 Purchased 4,000 shares of common stack as treasury stack at $18 cash per share. Mar. 12 Sold one-fourth of the treasury shares acquired January 18 for $19 per share. July 17 Sold 500 shares of the remaining treasury stock for $17 per share. Oct. 1 Issued 5,000 shares of eight percent, $25 par value preferred stock for $39 cash per share Dec. 31 Required Prepare journal entries to record the foregoing transactions and post to T-accounts. Do not prepare the journal entry for the Dec. 31 transaction, but post the appropriate amount to the Retained Earnings T-account. Determine the ending balances for the stockholders equity accounts. Prepare the December 31 stockholders' equity section of the balance sheet. Journal Entries T-Accounts Date Jan 05 Jan 18 Mar.12 Jul. 17 These are the first preferred shares issued out of 50,000 authorized shares. Closed the net income of $75,500 to the Retained Earnings account Oct 01 Common Stock Issued common stack Purchased treasury stock Treasury Stock-Common Sold treasury stock. $750,000 600,000 346,000 Balance Sheets Description General Journal Paid-in-Capital from Treasury Stock To record sale of treasury stock. Paid-in-Capital in Excess of Par Value - Preferred Stock To record issue of preferred stack # # # # $ Debit 0$ 0 0 0 0 0 0 0 0 0 0 0 0 0 Credit 0 0 0 a 0 0 0 a 0 0 0 a 0 0

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