I need help filling in the Stockholder\'s Equity balance sheet (Part 2) for this

Question

I need help filling in the Stockholder's Equity balance sheet (Part 2) for this problem.

Part 1

Part 2

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Homework: Week 1 Homework / Chapter 13 Score: 0.61 of 1 pt 2 of 11 (2 complete) E13-23 (similar to) The charter for KWCP- 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, KWCP- TV completed the following transactions: 1 (Click on the icon to view the transactions) Read the requirements Requirement 1. Record the transactions in the general joumal. (Record debits first, then credits. Select the explanation on the last line of the jounal entry table.) Sep. 6: Issued 250 shares of common stock to the promoters who organized the corporation, receiving cash of $7,500. Date Accounts and Debit Credit Sep. 6 7,500 Common Stock- $1 Par Value 250 Paid-In Capital in Excess of Par-Common 7.250 Isaued common stock for cash. Sep. 12: Issued 300 shares of preferred stock for cash of $29,000. Date Accounts and Debit Credit Sep. 12 29.000 Preferred Stock-No Par Value 29,000 Isaued preferred stock for cash Sep. 14: Issued 1,000 shares of common stock in exchange for land with a market value of $24,000. Date Accounts and Debit Credit Sep. 14 24,000 1,000 Common Stock-$1 Par Value Paid-In Capital in Excess of Par-Common 23,000 Issued oommon stock for land

Explanation / Answer

Solution Part 2:

KWCP-TV Inc. Balance Sheet (Partial) 30-Sep-18 Particualrs Amount Stockholder's Equity: Paid in Capital: $4 preferred stock, no par, 100000 shares authorized, 300 shares issued and outstanding $29,000.00 Common Stock, $1 par, 500,000 shares authorized, 1,250 shares Issued and outstanding $1,250.00 Paid-in capital in excess of par value—common stock $30,250.00 Total Paid in capital $60,500.00 Retained Earnings $40,000.00 Total Stockholder's Equity $100,500.00

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