The Charter For KCAS-TV, Inc., Authorizes The Company To Issue 100,000 Shares Of $4, No-par – collegepaperslab.com | Instant Assignment Help
Accounting – Business Finance
The charter for KCAS-TV, Inc., authorizes the company to issue 100,000 shares of $4, no-par preferred stock and 500,000 shares of common stock with $1 par value. During its start-up phase, KCAS completed the following transactions:
Sept 6 Issued 275 shares of common stock to the promoters who organized the corporation, receiving cash of $8,250.
12 Issued 400 shares of preferred stock for cash of $20,000.
14 Issued 1,600 shares of common stock in exchange for land valued at $18,000.
30 Closed net income of $32,000 into Retained earnings.
1. Record the transactions in the general journal.
2. Prepare the stockholders’ equity section of the KCAS-TV balance sheet at September 30, 2012.
WHY SHOULD YOU HIRE EXPERT ACADEMIC WRITERS?
Answering this question is not essay as it seems. It will require you to research or burn your brainpower, write your findings down, edit, proofread severally, and submit unsure of the grade you will get. Collegepaperslab.com assignment writers are offering to take care of that. Order your assignment now, relax, submit, and enjoy excellent grades. We guarantee you 100% original answers, timely delivery, and some free products.
Place your order now…