Ouestion B. Bookkeeping Ine. (20 points) October 1 2016Issued 150,000 of common

Question

Ouestion B. Bookkeeping Ine. (20 points) October 1 2016Issued 150,000 of common stock at s22 per share, par value of s S16. services rendered by attorneys Able & willing- s rethi company issued 2000 shares of common stock at 5 23 par value $16 for legal ober 17 issued 1000 shares of common stock in exchange of land. The par value o o. The asking price of land is s s0,000 and FMV of land s 23,000 Question C. Carpet Enterprises Inc. All information pertains to 2 016 (30 points) November 1 stm, declared a $1.75 cash dividend on 280,000 shares of common stock outsta to be paid November 30h November 30th, paid the dividends declared. December 5th, had a 2 for 1 stock split. December 10h, declared a $1.50 cash dividend on common stock outstanding to be paid on Dec 30th paid the cash dividends declared on December l0 Question D. Dunrite Moving Inc. All information pertains to 2017 (20 points) October 26h bought 13,000 treasury stock at S 19. October 29th, sold 3,000 of treasury stock for $21 Nov 12h, sold the balance of treasury stocks for $ 15.

Explanation / Answer

Date Accounting titles & Explanations Debit Credit 1-Oct Cash (150,000*22) 3300000 Common stock (150000*16) 2400000 paid in capital in excess of par (150000*6) 900000 5-Oct legal expense 46000 Common stock (2000*16) 32000 paid in capital in excess of par (20000*7) 14000 17-Oct Land 23,000 Common stock 16,000 paid in capital in excess of par 7,000

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