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Rainoy, Inc., was organized on June 5, 2012. It was authorized to issue 380,000 shares of $10 par common stock and 50,000 shares of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $25 per share. The following stock transactions pertain to Rainoy, Inc.
1. Issued 17,000 shares of common stock for $14 per share.
2. Issued 10,000 shares of the class A preferred stock for $27 per share.
3. Issued 56,000 shares of common stock for $18 per share.
equired:
Prepare the stockholders' equity section of the balance sheet immediately after these transactions.
Stockholders' Equity:
Preferred stock...?
Common stock...?
Paid-In Capital in Excess of SV, PS...?
Paid-In Capital in Excess of Par, CS....?
Retained earnings...?
Total Stockholders' Equity $....?
1. Issued 17,000 shares of common stock for $14 per share.
2. Issued 10,000 shares of the class A preferred stock for $27 per share.
3. Issued 56,000 shares of common stock for $18 per share.
equired:
Prepare the stockholders' equity section of the balance sheet immediately after these transactions.
Stockholders' Equity:
Preferred stock...?
Common stock...?
Paid-In Capital in Excess of SV, PS...?
Paid-In Capital in Excess of Par, CS....?
Retained earnings...?
Total Stockholders' Equity $....?
Accounting Question Assistance?
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