question archive The following information pertains to Kwon Corp
The following information pertains to Kwon Corp
Subject:AccountingPrice: Bought3
The following information pertains to Kwon Corp. at January 1, 2010. Common stock, $10 par, 50,000 shares authorized, 2,000 shares issued and outstanding$ 20,000 Paid-in capital in excess of par, common stock15,000 Retained earnings65,000 Kwon Corp. completed the following transactions during 2010:1.Issued 2,000 shares of $10 par common stock for $25 per share.2.Repurchased 200 shares of its own common stock for $22 per share.3.Resold 50 shares of treasury stock for $26 per share. 1. value:1.00 points Required information Required:(a)How many shares of common stock were outstanding at the end of the period? Outstanding at the end of the period References eBook & Resources WorksheetDifficulty: MediumLearning Objective: 08-5Check my work 2. value:1.00 points Required information (b)How many shares of common stock had been issued at the end of the period? Issued at the end of the period References eBook & Resources WorksheetDifficulty: MediumLearning Objective: 08-5Check my work 3. value:1.00 points Required information (c)Organize the transactions data in accounts under the accounting equation. (Amounts to be deducted should be indicated with minus sign. Leave no cells blank – be certain to enter “0” wherever required. Omit the “$” sign in your response.)Kwon Corporation Accounting Equation EventAssets=Stockholders’ EquityCash=Comm Stock+PIC in Excess CS+PIC in Excess TS-TreasuryStock 1. 2. 3. Bal. References eBook & Resources WorksheetDifficulty: MediumLearning Objective: 08-5Check my work 4. value:1.00 points Required information (d)Prepare the stockholders’ equity section of the balance sheet reflecting these transactions. (Amounts to be deducted should be indicated with minus sign. Omit the “$” sign in your response) Stockholders’ Equity (Click to select)Treasury stockRetained earningsCommon stockDividendsDividends payable$ (Click to select)DividendsTreasury stockDividends payablePaid-In Capital in Excess of Par, CSRetained earnings (Click to select)Retained earningsDividends payableDividendsPaid-In Capital in Excess of Cost, TSTreasury stock Total Paid-In Capital$ (Click to select)Retained earningsDividendsCommon stockDividends payablePaid-In Capital in Excess of Cost, TS (Click to select)Common stockPlus: Treasury stockRetained earningsPaid-In Capital in Excess of Cost, TSLess: Treasury stock Total Stockholders’ equity$
