PROBLEM SET B

Problem $13-1$B

Stockholders' equity transactions and analysis P$1$

Check $(2)6,000$ shares

$(3)$ $$260,000$

Problem $13-2$B

Cash dividends, treasury stock, and statement of retained earnings

$C3P2P3$

Weiss Company was incorporated at the beginning of this year and had a number of transactions. The following journal entries impacted its stockholders' equity during its first year of operations.

$\backslash$table$[[$a$.,$Cash....,$120,000,],[$Common Stock, $$1$ Par Value $..............,,3,000],[$Paid$-$In Capital in Excess of Par Value, Common Stock..,,$117,000],[$b$.,$Organization Expenses $.....,40,000,],[$Common Stock, $$1$ Par Value $.......,,1,000],[$Paid$-$In Capital in Excess of Par Value, Common Stock. $.,,39,000],[$c$.,$Cash $...,13,300,],[$Accounts Receivable,$8,000,],[$Building$.,37,000,],[$Notes Payable.....,,$18,300],[$Common Stock, $$1$ Par Value $....................,,800],[$Paid$-$In Capital in Excess of Par Value, Common Stock..,,$39,200],[$d$.,$Cash $...,60,000,],[$Common Stock, $$1$ Par Value....,,$1,200],[$Paid$-$In Capital in Excess of Par Value, Common Stock. $.,,58,800]]$

Required

Explain the transaction$($s$)$ underlying each journal entry a through $d.$

How many shares of common stock are outstanding at year$-$end?

What is the total paid$-$in capital at year$-$end?

Balthus Corp. reports the following components of stockholders' equity at December $31$ of the prior year.

Common stock$-$ $$1$ par value, $320,000$ shares authorized, $200,000$ shares issued and outstanding

$$200,000$

Paid$-$in capital in excess of par value, common stock

$1,400,000$

Retained earnings.

Total stockholders' equity

$\backslash$table$[[2,160,000$